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Audit

Qatar Finance is responsible for coordinating an External audit with an Independent Auditor jointly selected by CMU and Qatar Foundation. The External Audit involves a review of the Annual Financial Statements and audits of expenses in accordance with Generally Accepted Accounting Principles (GAAP).
 

Budget

We are also responsible for the creation and submission of the Budget and Forecast for the campus.

Budget Submission

  • The process is initiated with the distribution of Budget Templates for completion by Department heads.
  • The various needs and requirements of the departments are discussed and assistances is provided in completing the budget templates and preparing the Position Justification Form.
  • After the completion of the budget template by the department, the budget is reviewed in coordination with CMU International Finance.
  • The different department budgets are combined and the consolidated budget is reviewed and submitted to Qatar Foundation.
  • Upon receiving approval from Qatar Foundation, the budget is broken down and distributed to the various departments to facilitate planning for the next fiscal year.

Budget and Forecast Upload into Oracle

As part of our commitment to provide concise and transparent information in a clear and simple format, we are involved in the transfer of the budget and forecast information from the Budget template sheets into Oracle Financial Systems.
This process takes place prior to the beginning of each fiscal quarter and allows us to ensure the accuracy of each department's budget.

Reporting

The other area is Internal Reporting to the various departments.

This is done on a monthly basis and allows us to work closely with each department to ensure that spending is in line with the fiscal year approved budget besides giving us an opportunity to discuss any problems or concerns with each department.

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