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Audit Committee

Audit Committee is mandated to oversee the functioning of Internal Audit in the University. It has clear and defined Terms of Reference and meets on a quarterly basis. The Audit Committee is composed of professional, experienced and non executive members.

Audit committee Terms of reference

1. To review and obtain reasonable assurance that internal controls and university systems are operating effectively to produce accurate, appropriate and timely management and financial information.

2. To ensure that resources are utilized in an economic efficient and effective manner

3. To review and monitor compliance to laws, regulations and policies.

4. To review risk management systems for identifying, measuring, monitoring and controlling risks.

5. To monitor and review the functioning of internal audit covering.

i. Reviewing the audit structure, audit charter, audit operating manuals procedures and code of conduct.

ii. Approval of audit strategies, Annual Plans and Budgets.

iii. Reviewing implementation of audit strategies, plans and budgets

iv. Receive and consider audit reports

v. Review implementation of audit recommendations

vi. Review matter that may affect the independence of Internal Audit.

6. Receive and consider Auditor General's report, management letter and review the implementation of their recommendations

7. Review and consider special audits, review and examinations carried out within the University.

8. To interface with management and staff for more clarifications on actions required to be taken;

9. To report and advise Council on a regular basis on all matters relating to Audting in the University

10. To review governance systems and process in the University and

11. To review the University's audited accounts and recommend to Council for submission to the Ministry of Education who shall then present them to Parliament.

Audit Committee Members

1. Mr. Bruce Balaaba Kabasa - Chairman of Audit Committee and Representative of Convocation on Council.

2. Mr. David Opio Okello - Representative from the Institute of Certified Public Accountants of Uganda

3. Mr. Gervase Ndyanabo - Representative from the Institute of Internal Auditors of Uganda

4. Dr. Malooba Stephen - Representative of Government and Chairperson of Appointments Board

5. Mr. Matyama Fredrick - Member of Council and Representative from Ministry of Finance Planning and Economic Development on Council

Last Updated on Wednesday, 22 February 2012 14:39
 

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Address: 3rd Floor, Main Building
Tel: +256 414 532 475
Email: audit@ia.mak.ac.ug
Website: www.ia.mak.ac.ug