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The responsibilities of Audit and Risk Committee include providing advice to Council on University accounting, control and reporting practices and the management of corporate assets and risks. The Committee also considers external and internal audit reports and reviews internal audit policy. Audit Committee comprises five (5) members, each external to the University.
A diagrammatic representation of the University's committee structure is available from The Guide by selecting Committees. It shows committees reporting to Council and Academic Board.
The Institute of Internal Auditors (IIA) Inc is the peak body that represents the internal audit profession worldwide. The Institute is based in the USA and has issued a number of standards and guidelines that provide internal auditors with professional support in the performance of their work. These standards and guidelines have been used as a basis for the standards and procedures adopted by Deakin University’s Internal Audit Unit.
The IIA's website is located at: http://www.theiia.org/ and provides information on issues such as Professional Practices, Standards and Ethics for internal auditors under the ‘Guidance’ section of the website.
The Institute of Internal Auditors–Australia is the relevant body that represents internal auditors in Australia. Employees within the University’s Internal Audit Unit are expected to achieve membership of the Institute as part of their ongoing professional development.
The Australian website of The Institute of Internal Auditors is located at http://www.iia.org.au/Home.aspx and contains practice advisories for internal auditors in addition to the material contained in the IIA-Inc website noted above.
The work of internal audit encompasses the financial aspects of the University’s operations. Accordingly, the standards and guidelines promulgated and disseminated by the CPA Australia may be relevant to the performance of internal audit’s work.
The website is located at: http://www.cpaaustralia.com.au/cps/rde/xchg/cpa/hs.xsl/index.html and contains publications on risk management, accounting and other topics relevant to internal auditors.
Similarly, The Institute of Chartered Accountants in Australia provides internal auditors with ‘Technical Resources’ support through its website at: http://www.charteredaccountants.com.au/, including publications on issues relating to management practice and corporate governance.
The Victorian Auditor-General's website can be found at http://www.audit.vic.gov.au/
The Australian National Audit Office's website can be found at http://www.anao.gov.au/