Financial Reporting Requirements

Cost Statements:

All financial reports must be approved and signed by the Research Accounting Office.

The information that you provided in your Initial Contract Set up Form is fed into the Sub Account Master module of Agresso detailing the reporting periods, the contact in the Research Accounting Office etc.

Having reviewed your account details and you (as P.I.) are in a position to approve the amounts and categorisation of your data for your report you are now ready to contact the Research Accounting Office for an appointment in order that the cost statement may be prepared.

In order to ensure timely submission of your report please arrange an appointment.  In line with the Contract Research Policy copies of all documents must be kept in your office e.g. completed timesheets, invoices, expenses etc.

A draft report will then be completed and then emailed to the P.I. for approval. Signing of same confirms that you have complied with NUI, Galway policies and also funders’ Terms and conditions.

The Research Accounting Office will then be in a position to sign the report as the Financial Officer.

The P.I. should make contact with their Research Accounting Office contact 6 months before the end of an award in order to review it.  The RAO (Research Accounting Office) contact can be found on the Research Project Summary report on the web or alternatively on the Research Monthly Report that is emailed to the P.I.    

Audits:

As you are aware the Terms and conditions for awards may include a clause detailing the necessity / possibility of  an audit of your award.

Having complied with NUI, Galway policies this should be a straight forward Process.

The auditor will need to be accommodated by your office and be provided will all their required backup and explanations.

The Research Accounting Office will be an intrinsic part of this process being available to assist where necessary e.g. meeting with Auditors, providing further information and explanations.