1. This Directorate derives its authorities (Financial) from the Constitution of the Federal Republic of Nigeria, Financial Regulations, Treasury Circulars from the Federal Ministries of Finance and Health and directives of Management Board through the Management headed by the Chief Medical Director.
2. The duties and responsibilities of the Directorate are as defined/stated in the Financial Regulations. Some of which are:
   1. Treasury Management
   2. Cost Control
   3. Billing and Credit Control
   4. Ensuring compliance with relevant laws
   5. Handling tax issues
   6. Preparation of financial statements
   7. Safeguarding assets through internal control
   8. Inventory Management and Control
   9. Payroll System
   10. Budgeting and Budgetary Control

For the Directorate to perform these functions maximally and effectively in consonance with good internal control system, it is broadly divided into two major sub Directorate Divisions namely Financial Accounting and Management Accounting, each ably headed by a Deputy Director within the Directorate. A Secretariat is attached to the office of the Director of Finance and Accounts.

Each of these sub-Directorate houses the following Departments:

Financial Accounting:

1. Revenue Monitoring and Assessment Department
2. Credits and Advances Department
3. Bank Reconciliation Department
4. Treasury Services Department
5. Final Accounts Department

Management Accounting:

1. Expenditure Control Department
2. Salaries Department
3. Pension and Staff Welfare Scheme Department
4. Stock Control

Two other accounting service centres are located at Wesley Guild Hospital, Ilesa and Urban Comprehensive Health Centre, Eleyele, Ile-Ife respectively. These two service centres are directly responsible to Ife Hospital Unit (IHU) which serves as the Headquarters for all accounting services in all the Divisions of O.A.U.T.H.C.

Other arms of O.A.U.T.H.C. where the presence of the Directorate is heavily registered for overall effective and efficient service delivery are RCHC Imesi-Ile, Multi-purpose and Dental Hospital, O.A.U., Ile-Ife.

The Directorate also serves as the Secretary to the Management Finance Committee where all issues relating to Finances of the Institution are deliberated upon and as well as the Chairman, Board of Survey.

STAFFING

The Departments in the Directorate of Finance and Accounts are headed by the following officers as at 1st February, 2017:

1. Director of Finance and Accounts                      -     Olaobaju M. S.
2. Deputy Director (Finance)                                  -     Fola-Alao F. M.
3. Asst. Director (Finance)/Expenditure Control     -     Odewole P. O.
4. Asst. Director (Treasury)                                   -     Adegoke-Dada O. O.
5. Asst. Director (Salaries)                                     -     Oguniyi A. O.
6. Asst. Director of Finance (PS/W)                       -     Awoyemi J. B.
7. Asst. Director of Finance (FA)                            -     Osunmuyiwa M. O.
8. Asst. Chief Accountant/Secretary, MFC             -     Adebiyi O. J.
9. Chief Executive Officer (Accts) (RMU)                 -     Balogun W. A.
10. Chief Executive Officer (Accts) (C & A)                -     Ogundijo A. I.
11. Asst. Chief Accountant (Reconciliation)             -     Ewah L. O.
12. Asst. Chief Accountant (Stock Control)             -     Adeyemi R. S.
13. Senior Accountant (WGH)                                 -     Ajileye O. S.
14. Accountant I (UCHC)                                         -     Olatunde M. J.
15. Asst. Chief Conf. Secretary                               -     Eluyera S. A.