University of Ghana Financial Regulations and Governance

Abstract

The Statutes of the University of Ghana highlight at Statute 8 (1) that “the University shall be managed and administered in accordance with sound and internationally acceptable practices,benchmarks, principles and ideas on university management and administration, including the principles of academic and financial integrity, confidentiality, accountability, transparency, fairness and equality of opportunity.”Accordingly, to conduct its business effectively, the University of Ghana needs to ensure that it has sound financial management systems in place and that they are strictly adhered to. Part of this process is the establishment of Financial Regulations and Governance which set out the University of Ghana's policies and procedures relating to financial management, control and reporting.These Regulations are made by Council pursuant to its powers under Statute 53 of the Statutes of the University of Ghana. The purpose of the Regulations is to provide a framework and guidelines to ensure control over the totality of the University's resources and provide management and stakeholders with assurances that these resources are properly applied for the achievement of the University's Vision and Mission.