Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 222222
Loughborough University

University Governance

Charter and Statutes

Statute XI

The Auditors

XI. The Auditors

1.

The Council shall appoint Auditors who shall hold office for such period, and at such remuneration as shall be determined by the Council.

2.%*

Every such Auditor shall be a member of one of the following bodies of accountants:

the Institute of Chartered Accountants in England and Wales;
the Institute of Chartered Accountants of Scotland;
the Association of Certified Accountants;
The Institute of Chartered Accountants in Ireland;

any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 161 (1)(a) of the Companies Act 1948 or any statutory modification thereof for the time being in force;

but no person shall hold office as Auditor who is, or any of whose partners is, a member of the Council or staff of the University.

3.

The Auditor or Auditors shall make a report to the Council at least once in each year.

4.

The Auditor or Auditors shall have the right of access at all reasonable times to the books, records, accounts and vouchers of the University and shall be entitled to require from the officers of the University such information and explanations as may be necessary for the performance of their duties.

5.

If the office of Auditor or Auditors shall become vacant by their death or resignation or any other cause before the expiration of their period of office the Council shall forthwith appoint an Auditor or Auditors in their place for the remainder of such period.

6.

 An Auditor may resign by writing addressed to the Council.

October 2013

Note: Amendments allowed by the Privy Council on 30 December 1974 and 7 April 1982 are embodied in the Statutes, and are indicated by *.

Modifications made by the University Commissioners and allowed by the Privy Council on 17 November 1992 are incorporated and are indicated by †.

Amendments allowed by the Privy Council on 14 December 1993, 24 April 1996, 3 September 1998, 10 August 1999, 27 July 2001, 31 October 2001, 8 May 2003, 20 August 2007 and 9 December 2009 are embodied in the Statutes, and are indicated by ¶, #, , $, ^, +, >, ~ and %.