SERDANG, 10 September 2020 – For the first time ever, the University Trust Account Management Briefing was successfully organized by the Trust Account Finance Section, Bursar’s Office UPM. The event was held at DKEP 1, School of Business and Economics, UPM Serdang, and was attended by 91 participants from 43 Responsibility Centres (PTJ) across the university.

Trust accounts are an essential element in the management of receipts and income at PTJs and are often a key area of focus during audits. Therefore, the main objective of this briefing was to provide clear and collective understanding regarding trust account management procedures, including authorization sources, account opening processes, operations, and closures.

Participants were also briefed on the roles and functions of committees involved in each stage of trust account management, monitoring processes, as well as audit issues commonly associated with trust accounts.

According to the Head of Financial Accounting Division, trust accounts with negative (debit) balances and unupdated accounts are among the frequent audit observations. He emphasized that all committee members must understand and play their respective roles effectively to ensure proper trust account management within their respective PTJs.

The session was delivered by Ms. Nur Asriati binti Jasmi, Head of Financial Accounting Division, and was also joined by Ms. Juliana Mahmood, Head of the Trust Account Section.

The briefing concluded with a Q&A session where participants could raise trust account-related questions, followed by a quiz segment to reinforce the knowledge shared.

This program is expected to contribute to improved financial governance and ensure that UPM's trust accounts are managed with high standards of accountability and transparency.