AUI is governed by the University Council which sets the teaching and research strategy and drives planning. It stipulates faculty planning within the university and the overall arrangement of work. The Rector is the head of university administration and is responsible for its operation. Day to day operations are in the hands of the Management Team, which consists of the Rector, Vice Rector for Academic Affairs, Vice Rector for Research, Deans of university faculties, Head of the Department of Vocational and Life Long Learning and Head of Operations and Physical Plant.
Björn Þorsteinsson, rector
Áslaug Helgadóttir, Vice rector