Authority

The Director of Internal Audit will report functionally to the Audit Committee and administratively (ie day-to-day operations) to a senior University Officer with direct access to the Vice-Chancellor ^[Note]. The Director of Internal Audit will have unrestricted access to, and communicate and interact directly with, the Audit Committee, including in private meetings without management presence, where necessary.

To establish, maintain, and assure that the University’s IAO has sufficient authority to fulfill its duties, the Audit Committee will:

• Approve the IAO’s charter.
• Approve the risk-based internal audit plan.
• Review the IAO’s budget and resource plan.
• Receive communications from the Director of Internal Audit on the IAO’s performance relating to its plan and other matters.

The Audit Committee authorises the IAO to:

• Have full, free, and right of unrestricted access to all functions, records, property, and personnel pertinent to carrying out any engagement, subject to accountability for confidentiality and safeguarding of records and information.
• Allocate resources, set frequencies, select subjects, determine scopes of work, apply techniques required to accomplish audit objectives, and issue reports.
• Obtain assistance from the necessary personnel of the University, as well as other specialised services from within or outside the University, in order to complete the engagement.

[Note: Under the present management structure of the University, the Vice President (Administration) who is also the Secretary of the University’s Council is designated by the Vice-Chancellor to oversee and supervise the internal audit function.]