AoC Audit Committee Masterclass Spring 2025

“The audit committee must advise the corporation on the adequacy and effectiveness of the corporation’s assurance framework. The audit committee must play a robust role in good stewardship and risk management ….. [the committee] advises and supports the corporation in explaining, in its annual accounts, the measures taken to ensure it has fulfilled its statutory and regulatory responsibilities.” - (Post 16 Audit Code of Practice, para 22)

College audit committees have a key role acting as the independent and objective conscience of the board. Most committee members are full governors and also have the joint and several responsibilities of governors and charity trustees. The remit of the college audit committee is not quite the same as that of most corporate audit committees and it is important that board members and management understand the role and responsibilities.

In this interactive masterclass, Tom Morrison of Stone King and Richard Lewis of RSM UK will take you through the audit committee roles and responsibilities and how to meet them, with examples. The session will also look at the relationship with auditors, how to use auditors to gain assurance and there will be plenty of time for discussion.