An internal or external audit may be conducted at any time during the project period or after the project ends.
Auditors will review financial and research records. Special attention will be given to cost transfers, general purpose equipment, and any large purchases made near the end of a project.
External auditors should be directed to Sponsored Financial Reporting (SFR) before beginning an audit. SFR will coordinate departmental visits and access to central records.
If the results of an audit show unallowable expenses or activities on your projects, or if any penalties are assessed, your department, college, or center must cover these costs.