MUMBAI, June 5 -- The state higher and technical education department has decided to introduce a common audit and finance code for all 13 universities under its jurisdiction, to improve uniformity in financial administration.

At present, each university has its own finance code and financial procedures. According to government officials, the new code will help streamline financial management, establish common standards and ensure better monitoring of funds.

In the first phase, audits will be carried out at SNDT Women's University, Yashwantrao Chavan Maharashtra Open University and Savitribai Phule Pune University. The audit will cover financial transactions and administrative processes from the financial years 2021-22 to 2025-26.

It wi...