The Audit Assurance and Risk Committee is chaired by a lay member of Council and comprises lay members of Council and co-opted lay members. All members are independent of the University's management, although senior executives attend meetings as necessary. The committee has a key role in the University's governance framework in ensuring that the University complies with Statutory, University and External Regulatory requirements in its financial and non-financial activities. In respect of the issues within its terms of reference, the committee has the authority to make recommendations to the University, its organisational units and its members.