Fund accounting is a self-balancing set of accounts, emphasizing accountability rather than profitability, used by government and non-profit organizations, segregated for specific purposes following laws and regulations or special restrictions and limitations. This study endeavours to assess the compliance of fund accounting in public universities of Bangladesh. Mainly the study was based on primary data sources collected through administering semi-structured questionnaires among the top and middle-level officials of the accounts office of public universities. The dichotomous procedure is used to ascertain the fund accounting compliance practices. Statistical resultssignify that the Fund Accounting Compliance Index (FACI) is satisfactory (76.19) but not outstanding in the public universities under study. Agricultural universities securethe highest FACI,whereasscience and technology universities secure the lowest FACI under the survey. The regression model was an excellentfitted model since the model is capableof explaining 77.4 percent of total variation by R² and 70.6 percent of total change by AdjR² though financial activities and universities’ category are statistically insignificant at a 5 percent level of significance. More emphasisshould be given tofund accounting practices to ensure budgetary control, transparency, accountability, and fairness of universities’ financial activities.