An examination of the reports of quality audits of Australian universities is used to identify quality assurance issues which emerge as more or less important for governing bodies and academic boards respectively. For governing bodies, many issues identified in audit reports reflect established good practice, such as a need to evaluate the governing body's own performance and for the governing body to be well informed about the institution. Audit findings in respect of academic boards, however, indicate a need for greater clarity about board roles, coupled with improved leadership and more attention to quality assurance of academic activities. It is suggested that governing bodies may need to pay greater attention to ensuring that academic boards are able to fulfil their important roles in academic quality assurance and leadership.