The Internal Audit Directorate is responsible for enhancing and protecting corporate value through the provision of risk-based and objective assurance, advice and insight.

Core Responsibilities

1. Exercise professional and administrative supervision over staff under the Internal Audit Directorate to ensure that the internal control systems of the University are efficient and effective.
2. Management of the internal audit activities of the University in accordance with the Public Financial Management Act 2016 (Act 921), the Internal Audit Agency Act 2003 (Act 658) and relevant standards.
3. Internal audit of the accounts and financial transactions of the University.

Other Functions

a) Review and appraise, where necessary, the adequacy, soundness and applications of accounting, financial and operational controls in the University

b) Ensure the establishment and operation of an efficient and effective internal financial control system

c) Evaluate the effectiveness of the risk management and governance process of the University and contribute to the improvement of that risk management

d) Provide assurance on the efficiency, effectiveness and economy in the administration of the programmes and operations of the University

e) Ascertain the extent of compliance with established policies, plans and procedures, and appraise the quality of performance of those carrying out assigned responsibilities

f) Ascertain the extent to which assets are accounted for and safeguarded against losses of all kinds

g) Ascertain the reliability of accounting and other data developed or generated within the University

h) Provide assurance to the Vice-Chancellor, and for that matter, the University Council, that there is an adequate system of internal controls

i) Ensure that policies and procedures are appropriate and not wasteful

j) Ensure that reliable records form the basis for the preparation of appropriate financial and other data provided for decision-making

k) Vet all proposed expenditures to ensure compliance with laid-down internal control systems and other statutory requirements

l) Conduct periodic examination of the accounts of the University including the units with limited financial and operational autonomy

m) Monitor and ensure that all expenditure incurred have been authorized and are within budgetary provisions

n) Conduct periodic management audit and submit reports to the Vice-Chancellor and the Council

o) Liaise with External Auditors and ensure that appropriate action is taken on reported audit findings

p) Submit periodic audit reports on the activities of all Units to the Vice-Chancellor, the Audit Committee and the Council

q) Generally, be responsible for ensuring that the University complies with the provisions of the Internal Audit Agency Act, 2003 (Act 565) and Public Financial Management Act, 2016 (Act 921)

r) Discharge any other assignments that the Vice-Chancellor shall deem necessary

The Directorate is responsible for the financial administration of the University in accordance with the Public Financial Management Regulatory Framework, Financial and Stores Regulations and other relevant policies.

Core Responsibilities

1. Preparation of the annual operating budget of the University and submission of periodic reports to the Finance Committee on the status of plans and projections necessary for the preparation of budgets for succeeding years.
2. Without prejudice to the Finance Committee’s powers, the Directorate shall:

   a) Ensure that the University’s accounting system has been approved by the Controller and Accountant General in consultation with the Auditor-General

   b) Manage and operate the University’s accounting system to ensure the accountability of all officers transacting the University’s business, and facilitate the efficient discharge of such business

   c) Exercise oversight responsibility for the accounting functions of other self-accounting and income-generating units of the University

   d) Prepare monthly accounts in a form prescribed and time set by the Controller and Accountant General in the Accounting Manual

   e) Prepare financial statements in accordance with appropriate financial reporting standards and submit same to Council through the Finance Committee

   f) Ensure the efficient and effective use of appropriations under the University’s control, within the ambit of government policy and in compliance with any enactment, Regulations or instructions issued under the authority of any enactment

   g) Ensure the due and proper collection of government revenue collectable by the University within the terms of any enactment or of instructions issued or approved by the Controller and Accountant General or Council

   h) Make payments for works, goods and services within the funds appropriated to the University, and in accordance with Public Financial Management Regulations, the Financial and Stores Regulations and any other enactment

   i) Implement policies relating to accounting and financial control in the University

   j) Liaise with Ministries, Departments and Agencies (MDAs) in respect of financial matters affecting the University

   k) Receive and order the disbursement of any trust moneys for which the University has been appointed as administering authority by or under any enactment or agreement

   l) Manage and reconcile the bank accounts authorized for the University by the Controller and Accountant General or Council

   m) Preserve in good order and secure the economical use of all equipment and stores used by the University

   n) Ensure, on behalf of Council, that proper records are kept of all University property, assets, stocks and valuables of all funds in a register

   o) Transact any other financial business for which the Vice-Chancellor is made responsible, by or under any enactment in accordance with the requirement of such authority, or of instructions issued or approved by the University Council

   p) Answer such questions as are raised by the Auditor-General in respect of the financial transactions and accounts of the University

   q) Afford every facility to both internal and external auditors in the performance of their functions

   r) Appear before the appropriate committee to make such explanations, as required by the Committee, in respect of the annual University accounts

   s) Advise the Vice-Chancellor and other officers of the University on matters relating to the accounts and funds of the University and invest University funds as directed by Council or the Vice-Chancellor, as the case may be

   t) Perform such other functions relating to accounting, financial and treasury services as may be prescribed by Council, the Vice-Chancellor or the Academic Board