1. 1 National R&I Programme Auditing Procedure National Funding Unit 2013

2. 2 Outline Introduction Why? How it was developed Approach Process CLOSURE Filing Structure & Templates Financial Technical Q&ANext Steps Purpose: Deploy Auditing Procedure for R&I Projects

3. 3 Introduction Why audit? As awarding body MCST would like to ensure that: funds used effectively projects contribute towards National strategies Through auditing we aim to: resolve issues provide support and reduce repeat issues make investment in R&I programme improve the programme

4. 4 Introduction How it was developed Benchmarking  Benchmarking allows to objectively evaluate key achievements of the project.  Each project is therefore expected to use reliable criteria for assessing progress and making the information available for public to allow comparison of research results.  It is important to evaluate the projects in a reproducible way

5. 5 Introduction How it was developed Internally: Policy Unit, National Funding Unit  Externally: Auditors, UoM Projects Office

6. 6 Introduction Evaluating of ongoing and finished projects should be made Interim Report  Interim Financial Statement  Final Financial Audit  Final Technical Audit  Scientific Audit 

7. 7 Delay policy

8. 8 Template for evaluating the project’s interim reports.

9. 9 Preparing the financial report Whenever the change is made to the budget, please include a comment and justify the change, refer to MCST e-mail, stated the date when the permittion to change the budget was granted

10. 10 Calculating your Eligible Funding Item Requested Funding as per Contract Actual Spend Eligible funding (up to 75% of Total Eligible Costs ) DifferenceCOMMENTS Personnel 12000 13000 13000 * 0.75 =12000 - (13000 * 0.75) € 0 Subcontracting € 0 Equipment € 0 Travel € 0 Other € 0 Indirect Costs 12000 *0.90909 13000*0.90909 (13000 * 0.75) *0.90909€ 0 TOTAL 12109.08 13118.17 € 0

11. 11 Process leading to the project closure Preparation Period: complete financial audit 1st Notification by email & Info Sessions PROJECT CLOSE-OUT MCST to send project- specific template Scheduled Scientific Audit Interviews: Scientific Audit Report completed by MCST Plan agreed with UoM Projects office & PwC Relevant documents available Accounts settled

12. 12 Technical Audit Filing Structure Dissemination  Publications  Conferences  Thesis  Patents Externalization  Website homepage  Articles  Events  Printed material  One-pager Other You are now ready for technical audit interview

13. 13 Templates Technical Audit One per consortium Prepare relevant documentation incl Certified Financial Statements

14. 14 Technical Audit Interview  Project management  Feedback to programme  Concur on account balance  Photoshoot & promotional Q&A Audit Report  By MCST  Transfer of remaining funds to/from MCST Audit is now complete Project is closed out

15. 15 Steps ItemBy WhenBy Who Send audit datesMCST Send guidelines and project-specific audit template Project Coordinator Confirm audit date with MCSTMCST Financial filingAudit Date – 3 weeks Project Coordinator Obtain financial audit certificate for each participant and send to MCST Audit Date – 1 week Project Coordinator Technical filingAudit Date – 1 week Project Coordinator