Minutes:
The Committee noted a report from the Manager of Internal Audit and Risk that presented the Internal Audit Report relating to a review of the grant protocol and grants receivable (for copy see file of Minutes).
The Committee were given assurance on the effectiveness of arrangements in place relating to the risks associated with external funding grants. Members were advised that some of the issues raised in the report were due to the dual responsibility for grant funding between finance officers in Resources and officers in the external funding team within RED.. The Manager of Internal Audit and Risk advised that the need to have a co-ordinated approach to the bidding, management and monitoring of grant funding, financial and non financial performance, was key to improving controls. A shared database would help to resolve the data quality issues identified by the audit review.
Resolved:
That the report together with the recommendations included therein be approved.