Financial Code

The Revised Financial Code 2008 incorporates the Recommendations of the Commission on governance and the suggestions made by the Members of the Chancellor’s Commission on governance Working Group on Finance and Planning Issues, and the suggestions by the representatives from Contributing Governments during the Meetings of the Governing Committees, and other meetings.   The Financial Code stipulates in the various Chapters the Principles of Financial Propriety, Probity, Transparency, Integrity and Honesty, Accountability, Openness, Objectivity, Value for Money, and generally, the safeguarding of the interests of the University.

Financial Code means the provisions relating to the approval and control of expenditure and the receipt of moneys by the University and related matters entitled the Financial Code, adopted by the Finance & General Purposes Committee on behalf of the Council on June 01, 1996, and any amendments thereto which may, from time to time, be adopted by the Council. The Financial Code sets the broad policies on the general systems of financial management and control to be followed by members of the University entrusted with or having responsibility for financial matters related to the University.

The Financial Code has been structured in such a way that the main policies and principles are spelt out. The details are set out in the Financial Procedures and Guidelines.

The Financial Procedures and Guidelines have been organized by chapters which correspond with those set out in the Financial Code. Each chapter of the Financial Procedures and guidelines has been divided into sections with appropriate section numbers to facilitate the location of specific policies and procedures.

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