UMY Financial Audit Achieves “Ordinary Without Exception” Rank

Every institution, including universities, has its own financial management system which is annually audited to see its transparency, level of accountability, and financial health. In 2020, the UMY financial audit achieved the rank of Ordinary Without Exception (WTP). WTP is the result of a financial audit given by the auditor if there is no overall error found in the financial statements and if the financial statements are in accordance with applicable accounting principles. WTP is the highest rank of the financial audit system.

The Public Accounting Firm, as the financial auditor, provided the WTP status to UMY with a fund absorption of 85 percent to 90 percent based on the standards set by the Indonesian Accounting Association (IAI), namely Entities without Public Accountability (ETAP) and PSAK 45 on Non-profit Entity Financial Reporting. This means that UMY has a good system in managing finances for planning, budgeting, disbursement, and budget accountability.

Dr. Suryo Pratolo, M.Si., Ak., CA., AAP-A., the UMY Vice Rector for Financial Resources and Assets, revealed that the management system used by UMY is already computer-based. The system is called MASMUHA or Management Accounting System for Muhammadiyah Higher Education which can provide financial reports quickly. “This achievement is the first time for UMY after the system was developed in 2002. This means that UMY has succeeded in managing funds from the community including parents, donors, government and grantees in a good and accountable manner and with maximum performance,” he explained when interviewed by BHP on Tuesday (01/09).

In addition, Suryo revealed that this achievement had a major effect on the public’s trust of UMY in terms of financial management as a mandate from the community as evidenced by the enthusiasm of UMY registrants even though they are currently in a pandemic. “We hope that UMY can continue to serve the community continuously. With this WTP status, hopefully the level of public trust in UMY will increase,” he said. (ays)

Share This Post

Berita Terkini