Audit Committee
Upcoming Meetings
2020/2021
17 May 2021
Council Members
Ex-officio members
Dr Elaine Way, Pro-Chancellor
Read moreDr Elaine Way, Pro-Chancellor
Committee membership: Audit Committee, GNRC Committee
Dr Elaine Way CBE is the former Chief Executive of the Western Health and Social Care Trust.
A public servant for 25 years, she was dedicated to the health and wellbeing of the communities she served and led significant reform to meet the needs of patients, families and communities for the 21st century.
Elaine has been central in the development of cross border health links including the development of the North-West Cancer Centre and has consistently worked with Co-operation and Working Together, a cross border organisation dedicated to improving the quality and safety of care in Northern Ireland and the Republic of Ireland.
She previously served as President of the Association of Healthcare and Human Resource Management, and received a special award in recognition of her work. She has also spoken nationally about the transformative care that she led in the Western Trust.
In 2016 Elaine was honoured with a CBE in the Queen’s Birthday Honours List.
Declaration of Interest
Trustee St Canice’s Church (Parish of Faughanvale), Eglinton. Registered charity
Appointed members
Mr Peter Sheridan
Read moreMr Peter Sheridan
Committee membership: Audit Committee
Peter Sheridan joined the peace-building charity Co-operation Ireland an all-island community organisation in 2008 as Chief Executive. The organisation was established in 1979, to build mutual respect and understanding between the peoples of NI and the ROI through practical co-operation. Prior to this he was an Assistant Chief Constable with the Police Service of NI. He retired from the police service in 2008 after 32 years police service. Before retiring he was responsible for the Crime Operations Department, which included murder and serious organised crime investigation including terrorist investigations.
Peter is a Commissioner with Foyle Port and is a member of the Advisory Board of the Woodland Trust. He graduated from Cambridge University with a master’s degree, attended the FBI Academy in 1999 and was awarded the OBE in in 2008 for services to the community. In January 2018 Peter was made an Honorary Professor in the Senator George J. Mitchell Institute for Global Peace, Security and Justice, at Queens University Belfast. He is a deputy Lord Lieutenant for Derry~Londonderry.
Declaration of Interest
CEO – Co-Operation Ireland
NI Executive, Department of Foreign Affairs and Trade
Pivotal – Chair
St Columbs Hall Derry/Londonderry
Woodland Trust
Deputy Lord Lieutenant
Hon Professor Mitchel Institute Queens University
Mr Russell Sloan
Read moreMr Russell Sloan
Committee membership: Audit Committee
Russell Sloan is Digital Services Director for Kainos Group plc, the largest indigenous IT services company in Northern Ireland. Russell has worked in Kainos for over 20 years, starting as a graduate software engineer.
In his current role he leads the Digital Services business which focuses on complex digital transformation projects across UK government, healthcare and commercial sectors.
Russell studied Engineering at Queen’s University Belfast and is a Chartered Engineer. He is an alumnus of Stanford Graduate School of Business and Darden Graduate School of Business, University of Virginia. Russell is married with four daughters.
Declaration of Interest
Digital Services Director - Kainos
Kainos Evolve Limited
Member of the Institution of Engineering and Technology
Ms Jayne Taggart
Read moreMs Jayne Taggart
Committee membership: Audit Committee
Jayne Taggart is Chief Executive of Enterprise Causeway, a Not for Profit third sector organisation committed to the promotion of enterprise and entrepreneurship. Jayne has worked in the business support sector for 26 years and is passionate about enabling entrepreneurs across all sectors with a focus on micro start-up companies, SMEs in their early stages of growth and social enterprises
Jayne is currently involved in a number of Boards and charities -she is Director & Vice Chair of Enterprise Northern Ireland, Director of Can Advocacy Network, Council Member of Causeway Chamber of Commerce and Director of Causeway Connections.
Jayne studied Geography and Marketing at Ulster University. In 2014 she received the Queen’s Award for Enterprise.
Declaration of Interest
Chief Executive - Enterprise Causeway
Enterprise Northern Ireland
Director of Causeway Connections
Director – Compass Advocacy Network
Council member – Causeway Chamber of Commerce
Elected members
Mr Eddie Friel
Read moreMr Eddie Friel
Committee membership: Audit Committee
Eddie Friel studied at Ulster University and Queen’s University Belfast. He has been Director of Development and Alumni Relations at Ulster University since late 2013.
He has previously held roles in the University’s Academic Office and Research and Impact team. He also worked for Invest Northern Ireland, Queen’s University Belfast and in the private sector.
He has served as a Non-Executive Director on the Board of the Foyle Heath and Social Services Trust, Governor of Omagh College of Further Education and as a Director of the Clinical Translational Research and Innovation Centre (C-TRIC).
He is currently a Member of the Board of the Nerve Centre, a leading creative media arts centre. He spends his spare time with his family and is also actively involved in his local GAA club.
Declaration of Interest
Director of Development & Alumni Relations at Ulster University
Board member - Nerve Centre, Derry
Membership attendance
Terms of reference
- Considering and making recommendations on the appointment and reappointment of the external auditor, the audit fee and the provision of any non-audit services by the external auditor.
- Monitoring the effectiveness of the external audit service on an annual basis and subject to satisfactory performance re-appointing them for a further year.
- Advising on any questions of resignation or dismissal of the external auditor.
- Discussing the nature and scope of the audit with the external auditor if necessary before the audit commences
- Discussing any qualifications to the interim and final audits and any matters the auditor may wish to discuss (in the absence of management where necessary).
- Considering and making recommendations on the appointment and reappointment of the internal auditor and on the level of audit fees.
- Monitoring the effectiveness of the internal audit service on an annual basis and subject to satisfactory performance reappointing them for a further year.
- Ensuring that the resources made available for internal audit are sufficient to meet the institution’s needs.
- Reviewing the internal audit plan, using a risk based approach, considering major findings of internal audit investigations and management’s response and promoting co-ordination between the internal and external auditors.
- To receive regular updates on outstanding priority one recommendations from audit reports
- Keeping under review the effectiveness of internal control systems and in particular monitoring management responses to the external auditor’s annual report and internal audit reports and the implementation of agreed audit-based recommendations from whatever source.
- To receive and discuss with management, the external auditors and the internal auditors significant business risks and the processes established to identify, monitor, control and report such risks and to consider reports prepared by senior management on the operation of internal controls within the Ulster University Group, any significant risk management failures and management’s responses;
- Considering accounting policies and their interpretation and responding to any changes to or departures from those policies.
- Commenting on accounting or financial policies or other policies that may have an impact on the efficient and effective administration of the University including any limited companies.
- Ensuring that systems exist to provide timely and accurate information as required for the effective running of the University.
- Monitoring compliance with external regulations, the terms of the University’s financial memorandum with the Department for Employment and Learning (DEL), as advised by the Higher Education Funding Council for England and the University’s Charter and Statutes.
- To ensure that the Annual Academic Assurance report addressees the areas covered by the assurance statements required by DfENI as part of the Annual Accountability Report and provides a sound and comprehensive basis for a recommendation from Audit Committee to Council on the sign off of those statements.
- Ensuring that all significant losses have been properly investigated in accordance with the University’s Theft, Fraud and Corruption Response Plan and that the internal and external auditor, and appropriate authorities, have been informed.
- Ensuring that satisfactory arrangements are in place to promote economy, efficiency and effectiveness in the use of the University’s resources.
- Receiving any relevant reports from the National Audit Office, DEL, the Councils and other appropriate bodies.
- Considering the draft annual accounts and corporate governance statement in the presence of and taking into consideration the opinion of the external auditors.
- Keeping under review value for money developments internally or within the sector in the light of the University’s value for money strategy.
- Initiating special projects or reports on value for money issues and any other matters as it sees fit.
- Ensuring that satisfactory arrangements are in place for the identification, evaluation and management of the risks faced by the institution.
- Ensuring that satisfactory systems exist for public interest disclosure (whistleblowing).
- To receive annually, the updated Gifts Register, detailing gifts accepted and declined by members of staff
- Producing an annual report for the Council to be available in time to confirm approval of the accounts.
- To provide a report on the work of the Committee to each meeting of the University Council in a format to be determined by the Council.
Reporting
In reaching decisions the Committee will have due regard to their impact on, and implications for, the University’s commitment to ensuring equality of opportunity and good relations as outlined in its Equality Scheme, and associated policies, and where possible and practicable the Committee will ensure that its actions are proactive in this respect.