Sponsors frequently perform audits and related financial reviews of sponsored projects.
Types of audits
What is your role during an audit or financial review?
As soon as you are notified of an audit or financial review, you should notify IU’s Grants Finance & Operations team, which has university-wide responsibility for ensuring that financial standards are compliant with all applicable laws and regulations passed to us from outside sponsoring agencies.
The team will compile requested documentation and respond directly to auditor requests. You may be contacted throughout the audit or financial review process to provide additional information or supporting documentation. Since auditors often provide limited timelines in which to respond to their requests, you must provide requested documentation as quickly as possible. Once an audit or financial review has been completed, you will be notified of the results and if any further actions are required.
Need help with an audit?
Email Jim Engel at firstname.lastname@example.org.