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Preparing for institutional audits in Worktribe
15 April 2024
In April, an interim audit began to prepare for year-end financial statements with research being a key area of focus. If an amendment or change to an award has been made, PIs and departments should ensure evidence to support the changes is uploaded to Worktribe.
This month an interim audit began with information from ongoing and closed awards being checked.
During audits, our Award Services Post-Award team submit evidence on the financial management of awards, such as how and when costs were charged, staff posts were approved, and justifications for inter-departmental transfers (IDTs) and intra-departmental journals (IDJs).
Some of the information requested can date back several years. With staff turnover and different filing systems across departments, it can be particularly challenging to retrieve the required documents.
What do PIs and departments need to do?
To support the audit process, Principal Investigators (PIs) and departments should keep records of all required evidence for awards in a structured and accessible way.
When making amendments to an award that affects the original contract, such as end dates, budget supplements, or virements, you should ensure any third-party or funder agreements and/or communication with the funder are uploaded to the Documents tab in Worktribe.
You should add as much detail to the name of the document as possible and include collaborator names, if applicable. This will help our Post-Award team and research support staff in departments to provide evidence requested by auditors on time.
Further information
For further information visit our Financial management webpage.
If you have any questions about audit processes or the financial management of your research project get in touch with our Post-Award team for advice.