Mangosuthu University of Technology’s remarkable transition from an audit disclaimer to an unqualified audit opinion in less than a year was made possible by the determination, discipline and collective effort of employees across the institution. At the heart of this historic turnaround was the University’s Finance Team, which worked tirelessly behind the scenes to help restore sound financial governance and institutional confidence.
During the Vice-Chancellor’s Townhall Meeting, Interim Vice-Chancellor and Principal, Professor Rushiella Songca, paid special tribute to the entire Finance Team for showing up for the University when it mattered most.
She acknowledged that the achievement “was evidence of what could be accomplished when employees embraced accountability, worked collaboratively and placed the interests of the University first.”
The Finance Team plays a critical role in safeguarding MUT’s financial health. Its responsibilities include ensuring compliance with financial legislation, policies and reporting standards; preparing credible annual financial statements; managing budgets, expenditure and cash flow; overseeing procurement and payments; maintaining accurate financial records; safeguarding institutional assets; strengthening internal controls; managing financial risks; and ensuring that audit findings are addressed promptly and effectively.
The team also verifies supporting documentation, monitors adherence to approved delegations of authority, facilitates reconciliations, prevents irregular or unauthorised expenditure, supports consequence management and provides financial information to enable evidence-based decision-making. Together, these checks and balances protect the University’s resources and promote financial sustainability, and accountability.
For Chief Financial Officer Bulelani Mahlangu, the Vice-Chancellor’s public recognition was a deeply meaningful moment. “The acknowledgement means a great deal to my team and me. It signals that the University values its people and recognises the sacrifices they make,” said Mahlangu.
He explained that an audit is an intensive process requiring precision, patience and constant engagement.
“The auditing process is not easy. It is tedious and iterative, and everyone involved understands that they are accountable. This year, we were united by the determination to move MUT from a disclaimer to an unqualified audit opinion.