Primary services
Audit Services
The main function of Internal Audit is to conduct independent reviews of the processes identified as being of risk to the University and to recommend improvements in processes, management and control procedures to ensure the risk is mitigated.
Benefits to the University:
- Improved efficiency, effectiveness and economy of operations and performance
- Improvement in the internal controls systems
- Minimisation of overall risk exposure to the University
- Minimisation of corrupt conduct
- Identification of problem areas and development of recommendations for corrective action
- Compliance with statutory requirements
- Assistance to management in compliance with accountability obligations and discharge of responsibilities
Supporting the Risk, Audit and Compliance Committee
The Risk, Audit & Compliance Committee is a formally constituted committee of Council with particular responsibility to assist and advise Council in fulfilling its corporate governance and oversight responsibilities in relation to the University’s management of risk, its internal control structure and its external reporting responsibilities.
To see details on the Terms of Reference, Membership and Meeting of this Committee.
UOW University Wide Risk Registers
The University Organisational Risk Register is updated on every six months.
The Register provides detailed risk descriptions, the possible causes and consequences of those risks, their ratings, and related mitigating controls and/or action plans. It is viewed as a living document, subject to changes in the University’s Risk Appetite Statement, and the operating environment for UOW.
Each risk has attached responsibility to owners at two levels- Management and Executive.
The Organisational Risk Registers, coupled with each Faculty & Division’s local risk register, ensure that all areas of the University are aware of the risks of delivering on the University’s strategic and business plans.
Business Continuity Management
The University of Wollongong has a comprehensive Business Disruption framework which encompasses the areas of Emergency Management, Crisis Management, Business Continuity and IT Disaster Recovery.
The Business Assurance unit looks after Business Continuity Plans for the University’s Faculties and Divisions and also supports the governance bodies- the Business Continuity Management Group and the Crisis Advisory Panel.
Related link: Business Continuity Management Policy.