15 minutesFINANCIAL TRAINING FOR MANAGERS

A presentation from UWA Financial Services

Facilitator: Kathy Kok-Liang

1. What training is available?

2. Which topic is relevant for your staff?

3. What is covered in each topic?

Today’s agenda

5. Auditors’ comments

6. A very quick refresher

4. No time to attend training?

www.finserv.uwa.edu.au/training

Training Schedule

Course Outline

Enrolment Form

Course Materials

FAQ

Financial Training

• What’s available ?

• What’s relevant to your staff ?

• What’s covered in each topic?

No timeto attend training?

http://www.finserv.uwa.edu.au/guidelines/reference_documents

Financial Handbook

For Finance Officers

The University Finance Manual

Outlines the policies &

procedures

http://www.finserv.uwa.edu.au/finance_and_accounting/finance_manuals/ufm

The Revised version

ImportanImportanttUWA has an obligation to comply with Australian & International Accounting principles, standards and controls.

The OAG (Office of Auditor General) requirements have increased significantly in the last 4 years.

Coming up …Auditors’ findings…

Auditors’ comments

1. Ensure internal controls are established, properly documented, maintained and adhered to.

2. No proper supporting documents.

3. No evidence of proper authorisation.

4. Lack of adequate audit trail on transfers/correction journals.

5. Lack of segregation of duties.6. Frequency of cash counts and banking.7. Lack of reconciliation between cash collections and

banking documentation.8. Segregation of duties within the cash receipting functions.9. Lack of approval requirements for processing void

transactions.10. Receipts not being issued when collecting cash.

Quiz Time

Are you ready ?

Authorised Signatories

Question 1:What Band Level will a Dean be?

Abstract from: Financial Toolkit: All you need to know to get started (Authorised Signatories)

Question 2:

A new Dean arrives in your

Faculty, what do you do?

A. Ring up Financial Services Help Desk to update the Financial Delegation Register.

B. Complete the Authorised Signatory Form to update the Financial Delegation Register.

C. No action required. Financial Services will eventually find out from its reliable sources.

Abstract from Working with Financial Forms…

Working with Financial Forms

1. Statistics

2. The checklist

3. The full training notes

A quick refresher …

2008 2007 2006

Forms processed 116453 114314 102102

Incorrect forms 3686 2771 4157

Error% 3% 2% 4%

Note: Figures are based on Accounts Payables forms only

Statistics

Abstract from Working with Financial Forms…

Do you know that…

• all incorrect forms are recorded by Financial Services?

• you can request for this report on a quarterly basis?

Abstract from Working with Financial Forms…

Checklist√ Ensure the correct form/s is/are used

√ Read and follow instructions written on forms. Use correct colour papers

√ Ensure all fields on the form are completed correctly

√ Ensure black & white invoices are stamped, verified & authorised

√ Ensure descriptions are meaningful

√ Ensure required/relevant supporting documents are attached

√ Retain copies

Abstract from Working with Financial Forms…

Contents of your Training Notes

• What forms are available?

• Where to get the forms?

• How to use each form?

• What to submit with each form?

• Common errors / why are your forms

returned.

There is a form for everything !

Summary - Every Business Unit is responsible for its own financials

Devolved system.

There is a form for everything!

Support is available:- Faculty Accountant

- HelpDesk Ring Ext 8777 or email fshelp@admin.uwa.edu.au

- Self-study materials, Financial Handbook for Finance Officers

- Finance Manual

- Financial Training ( monthly basis )

The Financial Delegation Policy is independent from the internal management reporting structure

Financial Training

1. Financial Toolkit – all you need to know to get started

2. Working with Financial Forms

3. Cash Handling

4. Month end reviews and reconciliations

5. PeopleSoft: Running Reports

6. PeopleSoft: DIY Enquiries

7. PeopleSoft: Journals and eTForms

8. PeopleSoft: Electronic Purchase Order