Financial Compliance
The information below describes what you need to think about when KI is a subawardee recipient of US federal funding, for example, funding from the NIH, DoD, and CDC.
The US post-award team can assist you and answer any questions you have related to your subaward. You can reach the US post-award team at compliance@ki.se
Subaward agreement
The terms and conditions and any special requirements (e.g.for the budget, indirect cost coverage, carry over, etc) of the subaward are defined in the Notice of Award (NoA) and the subaward agreement. For many projects co-financing from the department is needed.
Timesheets and Level of Effort report
The number of worked hours or effort within a project needs to be reported.
Please find our KI template timesheets here.
Annually an effort report also has to be submitted for all key personnel.
Financial reporting/invoicing
KI has a financial report template, which includes an invoice and budget control document that can be used when requesting funding from the prime institution.
Audits
All projects should be audited at least once per period.
All federal projects are required to carry out a financial audit within 90 days of the end of each financial period. Ernst &Young are procured to carry out these audits.