UM has adopted the Malaysian Public Sector Accounting Standard (MPSAS) starting 2020. The accounting policies adopted are disclosed in the annual financial statement submitted to auditors, and subsequently, are tabled at parliament. Periodic financial reports are prepared monthly, quarterly and annually and submitted to various committees (LPU, JTK, JKP, JPKA, JKA, and JKLK) for deliberations and comments for continuous improvement. In previous financial years, the financial statements of the University were prepared in accordance with the Malaysian Private Entities Reporting Standard (MPERS).
The annual financial statement is submitted to the Auditor General (AG) for auditing by the External Auditor before 30th April every year. These reports are also sent to the central agencies such as MOHE and MOF.
UM uses the System Application Product (SAP) as the Financial Management System to control and keep documentation on financial information. The system has been configured with an Authorization Matrix in accordance with the rules and regulations outlined in Treasury Circulars, Treasury Instructions, and so on.
Last Update: 13/01/2022