Research Councils UK (RCUK) has undertaken a Funding Assurance Review during the period February to April 2017.
This was a wide-ranging review of the administrative environment in operation at Queen's to support Research Council grants and fellowships. The review examined the University's systems for financial management, governance, audit, risk, research integrity, ethics, management of third-party research providers and the public engagement with research.
The review involved a detailed reconciliation of University records to RCUK records for 32 grants, with a value of £47.2m, with no errors identified and also included an in-depth audit of a large sample of financial transactions to ensure compliance with RCUK grant terms and conditions.
RCUK have reported their findings, and have assigned the highest available rating of 'Substantial Assurance' to the University, which is an excellent outcome from the University's largest funder of research grants and contracts.