1. 15 minutes FINANCIAL TRAINING FOR MANAGERS A presentation from UWA Financial Services Facilitator: Kathy Kok-Liang

2. 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?

3. www.finserv.uwa.edu.au/training Training Schedule Course Outline Enrolment Form Course Materials FAQ

4. Financial Training What’s available ? What’s relevant to your staff ? What’s covered in each topic?

5. No time to attend training?

6. http://www.finserv.uwa.edu.au/guidelines/reference_documents Financial Handbook For Finance Officers

7. The University Finance Manual Outlines the policies & procedures http://www.finserv.uwa.edu.au/finance_and_accounting/finance_manuals/ufm The Revised version

8. Important UWA 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…

9. 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.

10. Quiz Time Are you ready ?

11. 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)

12. 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…

13. Working with Financial Forms 1.Statistics 2.The checklist 3.The full training notes A quick refresher …

14. 200820072006 Forms processed116453114314102102 Incorrect forms368627714157 Error%3%2%4% Note: Figures are based on Accounts Payables forms only Statistics Abstract from Working with Financial Forms…

15. 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…

16. 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…

17. 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.

18. There is a form for everything !

19. 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

20. 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