Preparing for a Tri-Agency Financial Monitoring Review - For Research Administrators
Financial Monitoring Review
The Tri-Agency, National Sciences and Engineering Research Council of Council (NSERC), Canadian Institutes of Health Research (CIHR), and Social Sciences and Humanities Research Council (SSHRC), have confirmed that they will undertake a financial monitoring review of the University of Alberta during the months of November and December 2016.
Purpose of Financial Monitoring Review
The purpose of the financial monitoring review by the Tri-Agency is to confirm that the University of Alberta fulfills its research grant funds management responsibilities as set out in the Agreement on the Administration of Agency Grants and Awards by Research Institutions.
The review is also used to assess our internal control framework.
Importance of the Financial Monitoring Review
Positive findings from the review can provide comfort to all of our research sponsors that their dollars are being safeguarded. Negative findings from the review could result in funding from the Tri-Agency being suspended or withdrawn.
What Research Administrators Can Expect
When requested by reviewers, administrators will be requested by the Research Services Office to provide supporting documentation. These requests will come with a deadline. We may not be given an opportunity to provide missing documentation, in which case the expenditure may need to be removed from the project.
What the Tri-Agency Looks for in Expenditures
The Tri-Agency will look at samples of researcher expenditures from the most recent completed fiscal year (April 1, 2015 – March 31, 2016).
Reviewers will verify that expenditures are:
- Eligible - The Tri-Agency provide specific guidelines on acceptable use of grant funds. Where guidelines are not provided, University of Alberta policies and procedures apply. Examples of ineligible expenditures include alcohol and first-class travel.
- Compliant - Reviewers ensure that all expenses have adequate supporting documentation as required by the Tri-Agency and University of Alberta guidelines.