Home Uncategorized OpEd: UR Achieves Unqualified “Clean” Audit Opinion In Financial Management for the First Time In Its History

OpEd: UR Achieves Unqualified “Clean” Audit Opinion In Financial Management for the First Time In Its History

by Ignatius R. Kabagambe
7:14 pm

University of Rwanda registered a ‘Clean Audit’ opinion since its creation. File Photo.

For the first time since its establishment in 2013, the University of Rwanda (UR) proudly got unqualified audit opinion reflecting a clean report in financial management for the financial year 2022-2023, conducted by the Office of the Auditor General.

The University of Rwanda was founded through the merger of 14 former public Higher Learning Institutions in 2013, aimed at enhancing teaching, research, financial efficiency and workforce effectiveness.

This milestone is particularly significant as it marks the first clean audit report in the institution’s history, dating back to the autonomy of the 14 individual public Higher Learning Institutions prior to their merger into UR.

The Office of Auditor General for State Finances attributes this historical achievement to significant improvements in financial management and accountability. Initially, the incomplete student data and absence of asset valuation mechanisms contributed to the historical shortcomings in financial management.

In response to these challenges, UR management, with support from the Board of Governors, initiated corrective measures and a multi-year roadmap was established, implemented by the university finance team and closely monitored on a quarterly basis to address inefficiencies and enhance financial management.

Despite this milestone, the university acknowledges the existence of non-financial challenges, such as the management of academic staff workload, recruitment of staff with specialized skills, particularly in Science, Technology, Engineering and Mathematics (STEM), Medicine and others.

Furthermore, issues related to asset management, including outdated infrastructure require attention as noted by the Parliamentary Public Accounts Committee (PAC).

The recent institutional review conducted ten years after UR’s creation and ongoing reforms have highlighted these challenges. The government’s commitment to review and reform UR, as evidenced by the newly passed law by the Parliament, aims to address the issues comprehensively and enhance the institution’s operational capacity.

Upon gazetting of the new law, a series of bylaws will be enacted to facilitate its enforcement.

UR looks forward to leveraging these reforms to fulfill its core mandate of teaching, learning, and research, thereby realizing its vision of becoming a leading academic institution across the continent.

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