UNI0823 | Provision of Internal and External Audit Services, Harper Adams University

a. Harper Adams University acknowledges that the responsibility for establishing and maintaining systems of internal control rests firmly with its management and that internal audit is not a substitute for good systems of internal control nor an extension of the University’s responsibility or internal controls.

b. It is, however, the clear responsibility of the internal auditor to review, appraise and report upon these internal controls. In additions, whilst the responsibility for the prevention and detection of irregularities rest with Harper Adams University, it is the internal audit service’s responsibility to plan audit work so that there is an expectation of identifying where both potential or material non-compliance and potential or material fraud exists and reporting of such risk areas to the University – both its officers and, where appropriate, the Board of Governors.

c. It will be the tenderer’s clear responsibility to provide an effective professional and independent internal audit service to the University in full compliance with the standards laid down by:

• the Auditing Practices Board;
• Public Sector Internal Audit Standards (published by CIPFA);
• the Chartered Institute of Internal Auditors Standards and Ethics;
• Government Internal Audit Manual (GIAM);
• any mandatory internal audit standards set out in the Audit Code of Practice issued by the Office for Students (OfS) or UK Research and Innovation (UKRI);
• any other guidance or requirements for internal audit services relevant to UK HEIs including any further requirements set by OfS, CUC, UKRI or other sector level bodies.

The successful tenderer providing services to Universiy must be aware of and apply appropriate External Audit Standards including those set out by:

• International Standards on Auditing (ISA);
• The Financial Reporting Council (FRC);
• Company Law and relevant Statements of Recommended Practice (SORP);

The services will cover the following areas:

• The audit and certification of the University and Group Financial Statements;
• The audit and certification of the University Subsidiary and quasi-Subsidiary Financial Statements;
• Attendance as required at Audit Committee meetings currently 4 per year;
• Presentation of reports, together with reports to management, to the Audit Committee and when required the Main Board/Board of Governors. Reports to management are expected to cover any major issues while a supplementary report may also be prepared to cover procedural and minor matters;
• The Annual Report is normally reviewed by the Audit and Risk Management Committee during October/November and approved by the Board of Governors by 1 December each year for submission to OfS as part of the Annual Assurance Return to OfS;
• Provide advice on the adherence to Accounting Standards, Financial Reporting Standards and Audit Standards as they apply to the University;
• Provide an opinion, where required, to be included in the independent auditor’s report to University Board regarding the University various funding streams and their use (including but not limited to funds received from the Government and other funding streams). The wording of this opinion will meet any requirements of Financial Memoranda or contracts;
• To include pensions testing in respect of LGPS scheme;
• To included corporate tax compliance services to the University Group;
• Liaison as required with Funding Councils/funders; and
• Liaison as required with Authority Internal Auditors.

The successful tenderer will be required to provide the University with an Audit Plan prior to commencement of the services required and will be required to present the Audit Plan to the University’s Audit and Risk Management Committee.