Universiti Malaya ensures that the Quality Procedures involved in the preparation process have measurable Quality Objectives, whereby their implementation and achievement are monitored. Additionally, each Responsibility Center is also required to have its own quality objectives.
- To ensure that at least 80% of the total number of invoices issued in the current year have been collected from third parties.
- Ensuring that the Return On Investment exceeds the standards established by the university.
- To ensure that 95% of staff claim payments are disbursed to the recipient's account within three days after receiving the Head of Responsibility Centre's approval.
- To ensure that suppliers' bills and invoices are paid within 7 working days after receipt of a complete document.
- To ensure that the collection rate of Undergraduate and Postgraduate fees is at least 90% of the fees charged.
- To ensure that 95% of receipts are identified and accounted for in the following month.
- To ensure the Annual Financial Report is submitted to the National Audit Department based on the circular issued by the Ministry of Finance (MOF).
- To conduct financial management inspections at various PTj/departments in accordance with annual planning.
- To ensure 95% of procurement applications that require approval at UM level are processed within a period not exceeding 21 working days from the date of the complete submission to the Procurement Division, Bursary.
