Middlesex University


Financial Statements 2015/16


Corporate governance


In preparing the financial statements, the Board of Governors has ensured that:


— Suitable accounting policies are selected and applied consistently;


— Judgements and estimates are made that are reasonable and prudent;


— Applicable accounting standards have been followed; and


— Financial statements are prepared on the going concern basis unless it is inappropriate to presume that the Institution will continue in operation. The Board of Governors is satisfied that it has adequate resources to continue in operation for the foreseeable future: for this reason the going concern basis continues to be adopted in the preparation of the financial statements.


The Governing Body has taken reasonable steps to:


— Ensure that funds from HEFCE, SFA and the NCTL are used only for the purposes for which they have been given and in accordance with the memorandum of assurance


and accountability with the Funding Councils and the Funding Agreement with NCTL, and any other conditions which the Funding Council or NCTL may from time to time prescribe;


— Ensure that there are appropriate financial and management controls in place to safeguard public funds and funds from other sources;


— Safeguard the assets of the University, prevent and detect fraud, and ensure that risk management is in place;


— Ensure that the Board of Governors’ report and other information included in the Financial Statements are prepared in accordance with relevant legislation in the UK;


— Secure the economical, efficient and effective management of the University’s resources and expenditure; and


— Ensure that the University operates an effective health and safety policy.


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