Financial Services

Financial Accountability and Legislative Requirements Policy

Further information

University finance manual

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The University of Western Australia has an obligation to be financially accountable for its income and expenditure and its assets and liabilities, even though it has a number of exemptions from the Financial Management Act 2006.

This section outlines the financial responsibilities for staff within the University, the role of policies within the University's financial administration and provides details regarding the Acts and Statutes as they relate to the financial aspect of the University.

Policy statement

Responsibilities

Policies

  • All accounting policies are set in line with the governing legislation, in particular The University of Western Australia Act, 1911 as amended and the Higher Education Support Act, 2003. All accounting policies are to be submitted to the Executive Director (Finance and Resources) through the Director, Financial Services. Where the policy will significantly impact on the University's operations, the policy must be ratified by the Senate as the accountable authority or a sub-committee of Senate as a delegated authority. Current specific policies are recorded within the Finance Manual and it is the responsibility of all staff charged with financial administration, control and reporting functions to be aware of these policies and the application to their functions.

Acts and Statutes

  • Under the authority of the Financial Management Act 2006 the Treasurer issues a set of Treasurer's Instructions specifying the financial administration, controls and reporting requirements by statutory authorities. Although the University is exempt from compliance with some of the Treasurer's Instructions, a number of instructions relating to financial administration, audit and reporting must be fully complied with and are given force under section 41 of The University of Western Australia Act, 1911, as amended. However, the University policy is to follow the intent of the Treasurer's Instructions.
  • The University of Western Australia Act, 1911 as amended, Section 41 provides legal authority for exemptions from certain sections of the Financial Management Act.
  • University accounting policies will be amended from time to time to comply with any changes in relative legsilation, statues, regulations and/or mandatory requirements.

Fraud policy

  • The University’s policy on fraud and corruption clarifies the responsibilities of all University staff in creating an honest, ethical and professional workplace, and outlines the requirements and protocols for raising issues of suspected fraud and corruption and the conduct of investigations, including referral to the Corruption and Crime Commission of Western Australia (CCC).
  • The policy is accompanied by the Guidelines for Dealing with Fraud and Corruption at UWA [PDF, 84.27KB]. This is a practical guide to enable staff to identify areas of risk and actual instances of fraud and corruption as well as setting out the processes to be followed when suspected acts of fraud and corruption are investigated at UWA. They set out the processes to be followed, the responsible officers in the process and the University’s reporting requirements.