Financial Accounting has the responsibility for preparing the University’s financial statements in compliance with the International Financial Reporting Standards (IFRS). It reports the University’s monthly management accounts which are widely distributed to the USP community and also presented to the Finance and Investments Committee on a quarterly basis. Other responsibilities include ensuring integrity and compliance of the data within the University’s Financial Accounting System, and maintenance and updating of Chart of Accounts in Banner Finance system.

Management Accounting has the responsibility for providing first‐level financial support to the office of the Vice Chancellor, Vice President Administration, Vice President Regional Campus, Deputy Vice Chancellor Research & International, Deputy Vice Chancellor Learning & Teaching, FSTE, FALE, FBE and all its respective sections and departments. Its main tasks are preparation of the monthly sectional financial reports highlighting and analyzing any variances; coordination, developing and monitoring of budgets; and providing advice to departments on any issues relating to Finance. The unit also examines all requisitions and staff/student claims emanating from the Faculties and Sections assigned to it, in conjunction with the USP Policies and Procedures.

Treasury Accounting has the responsibility for the timely and accurate bookkeeping of all local and overseas bank accounts and managing the University’s cash flow so that there are sufficient funds to meet current commitments as well as investing surplus funds to maximize returns.

Tax, Internal Audit and External Audit has the responsibility for the coordination of audit, and managing the compliance and Regulatory and Statutory reporting.

Project Accounting has the responsibility for providing effective accounting and reporting of project funds to all stakeholders.

Fixed Assets has the responsibility for ensuring all assets are recorded and maintained in the Fixed Asset Register. This requires monthly reconciliation of the Fixed Asset Register to the General Ledger and resolution of variations.