About Accounting Service
This is a division with three subdivisions Final Accounts Unit, Budgetary Control Unit and Loans Assets Investments Monitoring and Utilities.
The final Account Unit of Directorate of Internal Audit is saddled with the responsibility of auditing Final Account and ledger, auditing of transfer of fund, budget implementation and cash count exercise.
- To ensure that all financial transactions of the University are accurately and completely captured in the books of Account and financial statement.
- To ensure that each of the financial item is accurately coded and classified in the books of account and the financial statement.
- To ensure that Accounting policy and financial regulation are strictly complied with International Public Sector Accounting Standards, (IPSAS).
- That accounting entries are trace from the source documents to the final stage of their posting in the accounts and the financial statements.
- To generate reports on the areas of weakness in the financial records and activities.
- To ascertain whether the budgets are fully implemented.
- To check the genuity and approval of any virement
Loan, Asset Monitoring and Utilities Section (LAMU)
LAMU ensure that the best practices recommended in the University financial regulations and operational guidelines on staff loans and advances are strictly adhered to and ensure compliance with applicable University rules and regulations on loans or advances and asset registration.
The Audit objectives of Assets and Price Monitoring are to:
- Ensure that fixed assets are acquired with due approval
- Ensure that fixed assets acquired are the types that are actually needed by the user Department.
- Establish coded title to the asset, in order to ascertain and ensure the University is its owner and commence the use the asset after confirming its existence.
- Ensure that all fixed assets have been recorded in the fixed asset register.
- Ensure that disposals are properly authorized and that proceeds from sales are accounted for.
- Confirm presentation and proper treatment in the Accounts