Suspension of financial monitoring reviews

In light of the review of the Tri-Agency Financial Administration Guide, the Agencies are suspending their financial monitoring reviews and follow-up exercises until July 2018. The Agencies feel that monitoring based on a Guide that will be substantially changed would not be beneficial to either the Agencies or the administering institutions.

For those organizations that have recently had a Financial Monitoring review and are working to implement further control mechanisms to meet the requirements of that review, we encourage you to contact the Agencies so that we may discuss postponing those implementations.

Notwithstanding this suspension, we encourage all organizations to continue any improvements of your financial administration of Agency funds in order to ensure sound controls are in place.

Ongoing improvements

As part of our commitment to having strong and productive collaboration with the administering institutions, the Agencies will continue to seek feedback from research administrators and business officers. Your feedback in regards to our forms, processes and guidelines has been invaluable to date, and we are continuing to improve our service delivery. As part of our ongoing improvement, the Agencies remain committed to:

  • Improving service standards;
  • Addressing areas of debates such as reporting requirements; and
  • Reviewing and standardizing tri-agency forms.
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