The Finance and Risk Committee (FRC) is a sub-committee of the AIHE Council. The Committee supports management and provides strategic advice to Council on matters relating to finance and risk.
It provides oversight of AIHE’s financial reporting and risk management frameworks, to assist with ensuring financial stability, compliance with relevant laws and regulations, and to assist with mitigating operational and reputational risks.
Its purpose is to provide advice and assurance to the AIHE Council regarding the integrity of financial reporting for the organisation, and the adequacy of risk management frameworks.
Membership is for two years with an option to renew for a second term. The Committee will comprise three Council members appointed by Council, one of whom will serve as Chair. At least one member of the Committee shall have recent relevant experience related to finance or risk. The CEO will be in attendance at each meeting. The Committee may invite other members of management or external advisers to attend as required.
The Committee will meet at least four times per year, or more often as required. A quorum is a majority of members. If the Chair cannot be present at any meeting, the Chair will nominate another member to act as Chair of that meeting. One member will be selected to take notes at each meeting.
The Chair will report to Council following each meeting and present any recommendations of the Committee. The Committee has no decision-making authority unless delegated by Council.
These Terms of Reference will be reviewed periodically by Council.
View the complete Terms of Reference for the Committee.
Adelaide Institute of Higher Education is a member of
Adelaide Institute of Higher Education (AIHE) is registered as an Institute of Higher Education with the Tertiary Education Quality and Standards Agency (TEQSA), the Australian Government regulator for Higher Education. AIHE delivers fully accredited undergraduate and postgraduate degrees to domestic and international students that are recognised under the Australian Qualifications Framework (AQF).
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