Internal Audit: Internal Controls & Improving Research Expenditure Compliance

Join Internal Audit colleagues for an overview of their Research Expenditure Compliance Assessment Process (RECAP). Gain a better understanding of common internal controls and processes for improved compliance in research expenditures.

Learning Outcomes

1. Understand key requirements for the appropriate use of grant funds.
2. Recognize core elements of proper internal control procedures for improved compliance.
3. Understand Internal Audit’s role and how they support research administrators

Key Takeaways

1. It is important to maintain complete and clear documentation to substantiate the direct relevance of expenditures to the funded research activities; this includes ensuring that the grant-related purpose can be reasonably understood by an outside party.
2. Research expenditure compliance is team effort.  Grant-holders, counter-approvers and research administrators all play a crucial role in contributing to better internal controls by following established guidelines, policies, and procedures.