Executive Audit Committee (EAC)

The purpose of the Executive Audit Committee (EAC) was to provide support to the Vice-Chancellor as part of the University's ongoing review of performance in discharging its functions and activities. As well as providing for necessary liaison between the Internal Auditor and senior management, the EAC will oversight and review implementation by management of recommendations made in internal and external audit reports.

Reporting Line: The EAC shall be responsible to the Vice-Chancellor who, as the Chair of the Vice-Chancellor's Committee (VCC), will be the Chair of the EAC. The EAC will communicate to the Audit Committee through the Vice-Chancellor.

The internal auditor shall have the right of direct access to the Vice-Chancellor or to the Audit Committee.

Functions:
- consider, approve and review from time to time the University's internal audit charter.
- review, approve and monitor the performance of the internal audit plans.
- confirm that timely, relevant action is taken by management in relation to the matters raised by the internal Auditor.
- monitor internal audits in terms of their efficiency
- consider and negotiate the annual audit coverage proposed by the external auditors.
 - confirm that timely, relevant action is taken by management in relation to the matters identified by the external auditors in their management letter.
- communicate to the Audit Committee, as appropriate, any matters considered to be of significance
- report to the Audit Committee, from time to time, on the effectiveness of the University's accounting and internal financial management information reporting.
- monitor the University's anti fraud/corruption program

Composition:
The EAC shall be the VCC meeting in special session. Initially, for a period of 1 year, an outside auditing expert will be engaged to provide advice and support to the Committee.

The EAC was disestablished in late 1996. The University's prime audit committee became the Audit Advisory Committee which was the Senior Executive Staff (SES) meeting in special session.