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It is essential that effective internal controls exist throughout departments, faculties, institutions and the University to:

  • safeguard University assets
  • prevent and detect errors and fraud
  • protect the interests of the staff
  • help to ensure the accuracy of accounting records

Internal controls can be a mix of financial procedures and actions of the staff who are involved with the finances in their workplace.

Examples include:

  • authorisation of purchase orders
  • safe custody of petty cash
  • a register of departmental assets
  • validation of a UFS accounting code
  • monitoring of research grant expenditure in accordance with the terms of grant
  • secondary approval of a purchase invoice
  • compliance with Financial Regulations

Departmental Considerations

In order to ensure that their internal controls are appropriate and operating well each department should:

  • Ensure all staff are aware of the University's Financial Regulations.
  • Understand and follow recommended procedures for using UFS. See the UFS Training Manuals on the Finance Training Team's website.
  • Read and follow the good practice guidance in the Financial Procedures Manual.
  • Implement all of the recommendations contained within any departmental Internal Audit report.
  • Write financial procedures for departmental specific areas that can be used as a point of reference and training for new finance staff.
  • Seek advice from and share good practice with Finance Division staff and/or colleagues within the University.

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