PROJECT OBJECTIVES

As a result of a procurement procedure and within the framework of the project “The financial management system and operational capacity audit report of the Ventspils University College” (hereinafter – Audit) Ventspils University College (hereinafter – VUC) involved Dynamic University Ltd. with the aim to develop the Audit. The objective of this task was to carry out financial management system and operational capacity audit about the time period between 1^st October 2013 and 31^st December 2015.

PROJECT SOLUTIONS AND RESULT

In order to provide a full and comprehensive assessment, the project execution was carried out within the framework of a total of 28 partially structured face-to-face interviews with the VUC staff (including vice-rector, deans, directors, managers and other employees), as well as the analysis of the internal and external documents, laws and regulations, including VUC management and strategy documents, the local, regional and national development and policy planning documents.

The Audit was developed basing on the information obtained about the time period between 1^st October 2013 and 31^st December 2015. The task was carried out by analysing the fallowing VUC areas of operation:

• VUC strategic management, within which the VUC governance, interconnectedness of strategic management and planning documents, strategic decision-making process, as well as the mechanisms and factors that affect the achievement of the set goals were evaluated;
• VUC resource management, within which the VUC available resources (financial, human and infrastructure) governance, including planning and control arrangements, as well as return on efficiency were evaluated;
• VUS administration management, within which the VUC central administration operational efficiency mandate, functions and the distribution of responsibility, the organization of work procedures and results achieved pursuant to the set functions and objectives were evaluated.

Audit was concluded with recommendations for each area of operation. The Audit was developed using the best practices of the field.