The Audit Committee oversees the University’s internal audit function, covering the following key tasks:
- Approving the initial Internal Audit Charter and subsequent modifications for recommendation to and the final approval by the Council.
- Considering and approving the triennium and annual internal audit plan formulated by the OIA.
- Reviewing and assessing the system of internal audit and its effectiveness, and where deems necessary, to approve the appointment of external personnel to perform internal audit works.
- Receiving and considering major findings of internal audit and management responses.
- Playing a key role in the recruitment and to approve the selection and appointment of the Head of the OIA.
The Head of the OIA has direct and unrestricted access to the Audit Committee so she/he can communicate and interact directly with the Audit Committee. The Head of the OIA also has direct and unrestricted access to the President and the University’s senior management.