7.3 Processes ensure the proper Financial Management Policy and Manual review log shows the manual is current. recording of financial procedures. Internal audit shows compliance with policies. transactions consistent with Finance manual. Chart of accounts is uploaded to the accounting applicable accounting system and is the only source of account coding Chart of accounts. standards. information. 7.4 Financial operations contribute Finance policies and procedures. There are processes to assess the management towards the key of the finance system in relation to strategic plans. Audit reports. agency’s strategic goals and outcomes Number of adverse audit findings is low. and uphold the highest level of integrity. 7.5 Structured processes are in Finance policies and procedures. Procedures are used and records maintained as place to monitor and audit evidence. Financial Audit and Risk Management financial performance against (FARM) committee terms of reference. FARM committee/s established with TOR in place. budget and key strategic goals, There is evidence that the committee/s meet and both at executive level as well decisions are recorded. as by independent audit committee. 7.6 A framework for managing Procurement policies. Procurement system in place and evidence the procurement is in place. system and policies are used. Procurements are Audit reports. well documented and good standards of probity are adhered to. 7.7 Staff have clear boundaries for Incurring officers register. Internal audit shows that the registers are current financial authority. and there is no evidence that unregistered officers Certifying officers register. are incurring or certifying. CFO position description (JDF) CFO has qualifications that meet the position description requirements. 7.8 Assets are managed to support Asset register and management policies Asset register maintained, audits conducted in the organisation and manage accordance with the policy. Responsibility clearly Documentation identifying responsible officer loss. identified. to allocate assets with a unique asset number. Total Average Total score divided by number of – elements scored
7.3 Processes ensure the proper recording of financial transactions consistent with applicable accounting standards. Financial Management Policy and procedures. Finance manual. Chart of accounts. Manual review log shows the manual is current. Internal audit shows compliance with policies. Chart of accounts is uploaded to the accounting system and is the only source of account coding information. 7.4 Financial operations contribute towards the agency’s key strategic goals and outcomes and uphold the highest level of integrity. Finance policies and procedures. Audit reports. There are processes to assess the management of the finance system in relation to strategic plans. Number of adverse audit findings is low. 7.5 Structured processes are in place to monitor and audit financial performance against budget and key strategic goals, both at executive level as well as by independent audit committee. Finance policies and procedures. Financial Audit and Risk Management (FARM) committee terms of reference. Procedures are used and records maintained as evidence. FARM committee/s established with TOR in place. There is evidence that the committee/s meet and decisions are recorded. 7.6 A framework for managing procurement is in place. Procurement policies. Audit reports. Procurement system in place and evidence the system and policies are used. Procurements are well documented and good standards of probity are adhered to. 7.7 Staff have clear boundaries for financial authority. Incurring officers register. Certifying officers register. CFO position description (JDF) Internal audit shows that the registers are current and there is no evidence that unregistered officers are incurring or certifying. CFO has qualifications that meet the position description requirements. 7.8 Assets are managed to support the organisation and manage loss. Asset register and management policies Documentation identifying responsible officer to allocate assets with a unique asset number. Asset register maintained, audits conducted in accordance with the policy. Responsibility clearly identified. Total Average – Total score divided by number of elements scored
tafe-governance-maturity-selfassess-2016.docx