Cambridge University Reporter


1. Under the University's Statutes it is the duty of the Council to prepare and to publish the annual accounts of the University in accordance with UK applicable accounting standards such that the accounts give a true and fair view of the state of affairs of the University.

2. The Council are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the University.

3. In preparing the financial statements the Council are required to:

(a select suitable accounting policies and then apply them consistently;
(b make judgements and estimates that are reasonable and prudent;
(c state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
(d prepare the financial statements on a going concern basis unless it is inappropriate to presume that the University will continue to operate;
(e ensure that income has been applied in accordance with the University's Statutes and Ordinances, and its Financial Memorandum with the HEFCE and the funding Agreement with the Training and Development Agency for Schools; and
(f safeguard the assets of the University and take reasonable steps to prevent and detect fraud and other irregularities.