Do you currently review 100% of all expenses charged to a research grant? If so, did you know that the new principles-based guidelines introduced by the Tri-Agencies now allow institutions to consider materiality and risks for compliance testing purposes?
To help member institutions reduce the administrative burden associated with compliance, CAUBO engaged KPMG to develop a framework that can be used by institutions to implement a statistical approach, based on their own particular circumstances and in ways that will complement the Tri-Agencies’ new financial monitoring framework.
The Framework is now available for institutional members. (currently available in English only)
This report is part of a series of resources that CAUBO has developed to support members during the transition to the Tri-Agencies’ new principles-based guidelines. The new guide promotes efficiencies, reduces administrative burden, and provides administering institutions and grant recipients with greater flexibility in ensuring the appropriate accountability and use of grant funds.
A webinar was offered on July 9th where representatives from the Tri-Agencies, as well as KPMG’s Bailey Church (Partner), Sana Malik (Senior Manager) and Hassan Jan (Manager) presented a comprehensive overview of the sampling methodologies that can be applied by institutions, methodologies or considerations that could be utilized to establish materiality thresholds, and case studies that illustrate how to operationalize the framework. A recording of the webinar will soon be available for purchase. Stay tuned for details in the coming weeks.