Audit and Risk Committee
MembershipTerms of ReferenceReporting StructureSecretariatMeetings
| Restricted Area for Members of the Audit and Risk Committee |
Membership 2024/25
|
An independent member of the Council (Chair) |
Jayne Nickalls (31 December 2025) |
|
Four further independent members appointed by the Council, of whom a minimum of two will be serving independent members of the Council |
Adam Batty (31 March 2027) James Furse (2027) Kate Harrison (2027) Wayne Snow (31 December 2026) |
Notes: Members of the Audit and Risk Committee are not typically members of any Committee of the University with executive powers, such as the Finance and General Purposes Committee. Independent members from the Council can change annually.
In attendance
Vice-Chancellor
Provost
Group Finance Director
Registrar
Head of Internal Audit
Head of Risk and Resilience
External Auditors
Terms of Reference
To advise the Council on:
1. the appointment of the external auditors, the audit fee, the provision of any non-audit
services by the external auditors and any questions of the external auditors and any questions
of resignation or dismissal of the external auditors.
2. the appointment and terms of engagement of the internal audit service (and the head of
internal audit, if applicable), the audit fee, provision of any non-audit services by the internal
auditors and any questions of resignation or dismissal of the internal auditors.
3. of the Committee's consideration of issues relating to risk management and internal controls.
To monitor:
4. annually the performance and effectiveness of external and internal auditors, and to make
recommendations to the Council body concerning their re-appointment, where appropriate.
5. the implementation of agreed audit-based recommendations.
6. that satisfactory arrangements are in place to promote economy, efficiency and effectiveness.
7. that all significant losses have been properly investigated and that the internal and external
auditors, and where appropriate the Office for Students' (OfS) Accounting Officer, have been informed.
To receive:
8. any relevant reports from the National Audit Office, the OfS’ and other organisations.
9. regular reports and a series of presentations on the management of the University's significant
risks.
10. periodic reports from senior management on the University's governance arrangements
including arrangements for the conduct of reviews of the effectiveness of the University
Council.
To review:
11. reports, as required, relating to the Whistleblowing Policy.
12. the University’s Transparent Approach to Costing (TRAC) returns to the OfS.
13. the external auditors’ problems and reservations arising from the interim and final audits,
including a review of the management letter incorporating management responses, and any
other matters the external auditors may wish to discuss (in the absence of management where
necessary).
14. the elements of the annual financial statements in the presence of the external auditor,
including the auditor's formal opinion, the statement of members' responsibilities and the
statement of internal control in accordance with the OfS’ Accounts Directions.
15. the management letter of the external auditors, the annual report of the internal auditors'
annual report and management responses to both documents.
16. the internal auditors' audit needs assessment and the audit plan; to consider major findings of
internal audit investigations and management's response; and promote co-ordination
between the internal and external auditors. The Committee will ensure that the resources
made available for internal audit are sufficient to meet the institution's needs (or make a
recommendation to the Council as appropriate).
17. and discuss (if necessary) with the external auditors, before the audit begins the nature and
scope of the audit.
To oversee:
18. the processes used to produce the TRAC return, being assured that they comply with the
mandatory sector requirements.
19. the University's policy on fraud, irregularity and whistleblowing, including being notified of any
action taken under those policies.
Reporting Structure
The Audit and Risk Committee reports to the Council.
Click here to see a diagrammatic representation of the Committee Structure.
Secretariat
Secretary: Dr Chris Twine, Secretary to Council
Assistant Secretary: Kimberly Jebson-Hambly, Risk & Resilience Manager (Risk & Resilience Team)
Correspondence should be sent to universityaudit at warwick dot ac dot uk.
Papers for consideration by the Audit and Risk Committee should be submitted to the Secretary three weeks in advance of the meeting at which they are to be considered. Templates for reports should be requested from the email above.
The timetable for submission of reports to the Audit and Risk Committee is available here.
Meetings
Dates of meetings of the Audit and Risk Committee can be found within the University Committee Timetable.