The Department of Financial Audit is responsible for the review of the University’s accounting and reporting of financial transactions, including commitments, authorizations and receipt and disbursement of funds. It helps to verify that there are sufficient controls over cash and cash-like assets and that there are adequate process controls over the acquisition and use of resources. It also focuses on the components of the University’s major business activities such as payroll, cash handling, inventory and non-current assets and their physical security, grants and contracts.
Other areas include the University’s Internally Generated Funds, Government funding, Budgeting, Procurement, Accounts Payable and Account Receivable, Imprests and Advances, Cash management and Investments.
The Head of the Department reports to the Director of Internal Audit.
The Department is organized into the following Units:
1. Financial Audit Unit
2. Routine Audit Unit