The Audit Committee considers the appointment of the external auditors, the audit fee and any other related issues, and reviews the Annual Report and Financial Statements of the University. The Committee offers to the Council such additional assurance as it may reasonably require of the reliability of financial information submitted to it and of financial statements issued by the University, as well as the compliance by the University and its subordinated bodies with all statutes and other regulations to which they are subject. The Committee is also responsible for discussing with the University's auditors the general approach to and scope of their audits, reviewing the external auditor's management letter and University management's responses, and reviewing the internal audit plan and ensuring coordination between internal and external auditors. It shall undertake such other related tasks as the Council may from time to time entrust to it.
Mr. Dennis C.I. Chow