It is mandated to:
- Provide oversight to the university management on its governance processes.
- Review audit issues raised by both internal and external auditors.
- Review all significant audit issues arising from unsettled and unimplemented Public Accounts and Public Investment Committees’ (PAC/PIC) Recommendations.
- Enhance communication between management, internal and external audit and foster an effective internal audit function.
- Carry out other duties not specified above but which it deems necessary to perform its duties and responsibilities.
The mandate of the audit committee is not limited in any way, which would prevent it from properly performing its duties and responsibilities.
Duties and responsibilities
Duties and responsibilities of the Audit Committee include:
- Evaluating adequacy of management procedures with regard to issues relating to risk management, control and governance.
- Reviewing and approving the audit charter and the internal audit annual work plans.
- Reviewing the internal and external audit findings and recommendations and confirming that management is taking appropriate remedial action.
- Reviewing the systems and procedures established to ensure sound public financial management and internal controls, as well as compliance with policies, laws, regulations, procedures, plans and ethics.
- Initiating special audit/investigation on any allegations, concerns and complaints regarding corruption, lack of accountability and transparency in consultation with the accounting officer/chief executive officer.