Accountability Index (AI) of Financial Management is one of the initiatives introduced in the Report of Auditor General to Parliament and State Legislative Assembly beginning 2007 as part of its continuing efforts to enhance financial management accountability.
The rationale of introducing the AI is to respond to the concern of Government leaders over the instances of non-compliance and internal control weaknesses that were repeatedly mentioned in the annual audit reports. Through the implementation of an objective and transparent star rating system that formed the basis of the AI, it is hoped that agencies will be sufficiently induced to take corrective actions on the weaknesses on a timely basis and to undertake the necessary corrective action on shortcomings highlighted in the audit report. Thus, it is hoped that the AI will motivate heads of departments and agencies to walk the talk in ensuring accountability and integrity in their respective Cost Center's Accountability Index Financial Management and to diligently resolve the persistent weaknesses in their financial management.
Each Cost Center will be assessed based on indicators/sub indicators under the respective elements and each indicator/sub indicator consists of several criteria. The assessment will be given a score of 1 to 4. With effect since January 2016, the assessment will be given a score of 1 to 5. The main objective of Accountability Index as below;
1. Mechanism which objectively used to measure quality of financial management in Cost Center.
2. Remarks is given based on level of compliance by financial management in relation to the control of management, budgets, receipts, expenditure, management of trust funds and assets, inventory and store.
3. To strengthen the capacity of the University and to establish the implementation of KPI.
4. Accountability Index Rating can create a work culture based on best practices to improve the efficiency of financial management.
The Quality Management System (QMS) was officially implemented in the Internal Audit Office starting from April 2012 as an outcome from MS ISO 9001:2008 certification expansion program which was introduced by UNIMAS Strategic and Quality Center.
