68. Guild of Students

68.1. The Guild of Students is a separate legal entity from the University but is recognised to fulfil a valuable role in relation to the University’s students.

68.2. The Guild of Students is responsible for maintaining its own bank account and financial records and preparing its own annual financial statements.

68.3. Subject to any constraints imposed by the funding body, Council shall determine the level of grant to be paid annually to the Guild of Students. Council requires the Guild to provide for information details of its proposed budget to assist in determining the appropriate level of grant.

68.4. In accordance with an agreement between the University and the Guild of Students, it will provide quarterly statements of income and expenditure to the Director of Finance for information purposes only.

68.5. At year end the Guild of Students financial statements will be audited by an appropriately qualified firm of auditors and will be presented to Council for information.

68.6. In accordance with an agreement between the University and the Guild of Students, the University’s internal auditor shall have access to records, assets and personnel within the Guild in the same way as other areas of the institution.