Tri-Agency Monitoring Review - What can you expect?
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Transcript Tri-Agency Monitoring Review - What can you expect?
Tri-Agency Monitoring Reviews –
What Can You Expect?
CAURA Ontario 2013
November 25, 2013
Presented by:
Susan Munro, Assistant Director, Research Finance,
McMaster University
Annie Rémillard, Team Leader, Financial Monitoring,
NSERC/SSHRC
McMaster’s Journey
October 2009 Monitoring Review
Countermeasures
Process Re-engineering Working Groups:
Bookstore
Journal Entries
Certifications
Compensation
Scientific Stores and Systems Contracts
Compliance Officer Hired
Semi-Annual Information Sessions on Tri-Agency Matters
Continuous Internal Audits
PeopleSoft Implementation
Finance and Research Administration Go Live December 2013
Summer 2013 Monitoring Review
McMaster requested to pilot modernized financial monitoring process
Summer 2013 Monitoring Review
Positive Findings:
Clear Roles and Responsibilities
Hiring of Compliance Officer
Improved Oversight Responsibilities
Involvement of Internal Audit
Review of Signing Authorities
Transition to ERP
Improved Controls Needed:
Strengthening of University’s role in its Review of Expenses for Compliance and Eligibility:
Review of PI & Delegate Approvals in University Stores
Lack of Written Justification for Equipment and Supplies
Expense Reports – Purpose of Trip and Affiliation of Traveler
Delegation of Signing Authorities to Administrative Staff & Sub-Delegations
CIHR Research Allowances Account Set-up and Signing Authorities
Oversight of NCE
Overall:
Excellent Progress Made Since the 2009 Review
Tri-Agencies recognize all the effort, time and resources invested in improving systems and control
framework
The New Financial Monitoring
Review Process
Planning Stage
• Communication of
Monitoring Review
Schedule
Risk Assessment
Questionnaire
Reporting Stage
• Communications
• CIGT
• Document Requests
Execution Stage
• Opening Meeting
• Transaction Testing
• Interviews
• Closing Meeting
The Planning Stage
Initial Communications from Tri-Agency to Institution
Role of Institutional Coordinator
Notification Messages to Senior Management
Collaborative Information Gathering Tool (CIGT)
Timing
Length (Full-scope vs. Scoped-down)
Summary of CIGT Sections
Policies and Procedures
Tri-Agency Expectations on Level of Information
Information and Documentation Requests
General Ledgers
Transaction Supporting Documents
Request for Interviews
The Execution Stage
Official Opening Meeting
Timing
Attendance
Agenda
Interviews
Coordination of Meetings
Attendance
Transaction Testing and Worksheet
Debrief Meeting
The Reporting Stage
Detailed Assessment Report
Design of the Report
Remediation Action Plan
Management Letter
Follow-ups
Tri-Agency Guidelines Clarification
2013 Tri-Agency Financial Administrative Guide (TAFAG)
Summary of Changes
Incentive Payments to Study Participants
Transfer Letters
Supporting Documentation: Justification for Electronic
Equipment and Supply Purchases
Network Centers of Excellence
Institution as a Network Member
NCE Program Guide
TAFAG
Institution as a Network Host
Hosting Agreement
Funding Agreement
NCE Program Guide
TAFAG
Internal Policies of the NCE
Next Steps
Modifications to Tri-Agency Tools and SOPs
Ongoing Communications with Institutions
Publication of CIGT to all Eligible Institutions
Adaptation of Monitoring Methodology to
Eligible Colleges
Thank You