Any external audit requirements will be included in the terms and conditions of each award. External audits will be arranged by ROO and auditors may need to visit departments to check invoices and payroll information. ROO will contact departments to arrange these visits.
Our most common grant audits are for EC-funded grants, Technology Strategy Board, Research Councils, National Institute for Health (US) and some major UK charities, e.g. Wellcome Trust, Cancer Research UK.
Please refer to the Financial Procedures Manual (FPM) for financial requirements, particularly when dealing with travel, subsistence and entertainment. Whilst there are some mandatory elements, it is the intention of the FPM to provide a set of best practice guidelines. Provided expenses are wholly and exclusively for the purposes of business, and comply with the mandatory elements, they may be allowed outside these guidelines.
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See the Research Operations Office EU website for further details http://www.research-operations.admin.cam.ac.uk/managing-research-project... |