Posted on 10/12/2012
The Research Councils’ Funding Assurance team completed a periodic review earlier this year. Their report provides “substantial assurance” (the highest of four possible ratings) to the Research Councils of the administration and management of grant funding and of compliance with the TRAC (costing) methodology at Royal Holloway. Their conclusion states that there were no concerns about controls and operating procedures, that the files contained all the expected items and that there was considerable engagement with and understanding of TRAC. The outcome of the Assurance Review is important in giving the Research Councils confidence to award funds to Royal Holloway’s researchers.
The verbal feedback provided at the end of the fieldwork was highly complimentary of the standard of record keeping and monitoring within the Research Finance team, for example they said that the records maintained for the administration of Doctoral Training Grants (which has been devolved to HEIs recently) were the best they had seen.
The findings reflect well on the collective work of researchers and their departments, faculty support, Research and Enterprise, and Finance. In particular, this is a credit to the hard work and attention to detail of the Research Finance team of Rosemary Greaves, Helen Swaine, Kate Corti, Kerry Prendergast and Marian Cannon, and of John Carroll, Rob Thrower and Ross Wilson, who prepare the annual TRAC return.
Director of Finance