Question 12 Umda University is a privately owned education institution operating in four provinces of South Africa. The council of the university held four meetings during the 2023 academic Not yet year ending July 2023, where the following documents were discussed. Marked out of 1.00 P Elag (1) Risk register (5 top risks) Notes: All risk management reports were timely communicated to both the management and council. (2) Audit report (matters needing urgent attention) a. Debt costs increased from 3% to 5% of university income. b. Non-adherence to accounting policies. c. All computer assets of the university have exceeded the SARS-prescribed depreciation rates and period. d. Insurance policies of the university have lapsed due to non-payment of premium. (3) Financial information e. Performance information The university has only achieved 2 out of 6 strategic objectives. A recognised institution has downgraded the university teaching and research from a ranking of 11 to 26 . Council has not ensured the implementations of recommendations made by both the internal Audit and Auditors during the last three years. Question 12 Umda University is a privately owned education institution operating in four provinces of South Africa. The council of the university held four meetings during the 2023 academic Not yet year ending July 2023, where the following documents were discussed. Marked out of 1.00 P Elag (1) Risk register (5 top risks) Notes: All risk management reports were timely communicated to both the management and council. (2) Audit report (matters needing urgent attention) a. Debt costs increased from 3% to 5% of university income. b. Non-adherence to accounting policies. c. All computer assets of the university have exceeded the SARS-prescribed depreciation rates and period. d. Insurance policies of the university have lapsed due to non-payment of premium. (3) Financial information e. Performance information The university has only achieved 2 out of 6 strategic objectives. A recognised institution has downgraded the university teaching and research from a ranking of 11 to 26 . Council has not ensured the implementations of recommendations made by both the internal Audit and Auditors during the last three years