Financial Statements 2019/2020


Attendance at Finance and Infrastructure Committee meetings has been as follows: Name


Martin Taylor Mark Jopling


Chris Fenton Simon Darling Andy Wilson


Audit and Risk Committee


The Audit and Risk Committee is responsible to the Board of Governors for adequate and effective risk management, control and governance (including ensuring the probity of the financial statements and the effective management and quality assurance of data submitted to funding bodies) and for the economy, efficiency and effectiveness of the institution’s activities. The Committee meets with the University’s external and internal auditors in attendance. The Committee considers detailed reports together with recommendations for the improvement of the University’s systems of internal control and management’s responses and implementation plans.


The Committee reports to the Board on the adequacy and effectiveness of the University’s arrangements for:


— Risk management, control and governance — Financial reporting (i.e. the integrity of financial reporting arrangements, including the corporate governance statement and the statement of members’ responsibilities as reported in the annual Financial Statements)


— Economy, efficiency and effectiveness (Value for Money) — Data quality.


It also receives and considers reports from the Office for Students as they affect the University’s business and monitors adherence to the regulatory requirements. While senior executives attend meetings of the Audit and Risk Committee as necessary, they are not members of the Committee and the Committee meets annually with the Auditors on their own for independent discussions.


The University’s internal auditors monitor the systems of internal control in accordance with an agreed plan of input and report their findings to management and the Audit and Risk Committee.


Management is responsible for the implementation of agreed audit recommendations and the internal auditor undertakes periodic follow up reviews to ensure such recommendations have been implemented.


The Audit and Risk Committee also advises the Board of Governors on the appointment of internal and external auditors and the remuneration for both audit and non-audit work.


Attendance at Audit and Risk Committee meetings has been as follows:


Name


Marianne Neville-Rolfe


Paul Pugh Matt Lewis Mark Leach Michael Ekpe


11 November 2019


present


present present present


not applicable for this meeting


9 March 2020


present


present present


apologies present


22 June 2020


present


present present present present


4 November 2019


present apologies


present present present


29 January 2020


present


not applicable for this meeting


apologies present present


24 February 2020


present


not applicable for this meeting


present present present


15 June 2020


present


not applicable for this meeting


present present present


Middlesex University


71


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