Stellenbosch University Governance
Stellenbosch University is committed to the principles of discipline, transparency, independence, accountability, responsibility, equity and social responsibility as contained in the King II Reports of Corporate Governance.
Council ensures that Stellenbosch is managed in a responsible and transparent way, creating the following structures to ensure its obligations are met:
Executive Committee of the Council - monitoring and control function, recommends annual operating and capital budgets, controls progress and results, ensures financial soundness.
Audit and Risk Committee of the Council – tended by internal and external auditors, responsible for: safeguarding assets; operation of suitable systems of internal control; risk management and risk control measures; internal and external audits; statutory compliance; accounting policy; financial reporting; sound cash-flow management vertically throughout institution and maintaining the university as a going concern.
Human Resources Committee of the Council – responsible for considering matters on staff remuneration and fringe benefits; recommendations on general staff policy, service contracts, pension funds, bonuses, performance assessment frameworks, appointments and promotion of members of senior management.
Hope Project initiatives are managed according to strict financial controls and cash-flow management tied to quarterly or half-yearly performance measurement and reporting.
All donations are audited and processed according to strict financial regulations.