RSS Feeds5. Financial Records and Other Records
5.1.1 The Host Institution shall maintain separate Financial Records for the Grant identified by a reference code which is specific to the Grant and all costs and income properly relating to the Grant (including without limitation all disbursements of Grant monies) shall be accounted for through them.
5.1.2 The Financial Records shall be maintained in accordance with good accounting practice.
5.1.3 The Host Institution shall maintain such other records as may be reasonably necessary or as may be reasonably required by the HRB to satisfy the HRB that the Host Institution has complied with all of the Grant Conditions including without limitation records relating to evaluations of the outputs, outcomes, impacts and other results of the Grant Funded Activities.
5.1.4 All such records shall be maintained in paper and electronic form and shall be to the satisfaction of the HRB including without limitation the quality of the information contained in them.
5.2 The Host Institution shall ensure that in any agreement it may enter into with a third party in relation to the co-funding of the Grant Funded Activities it reserves or provides for the right of the HRB or any other body or individual appointed by it to inspect the Financial Records and other records as aforesaid.
5.3 The Host Institution shall retain or arrange for the retention of the Financial Records and other records referred to above in both paper and electronic form and shall make them available to the HRB or its authorised representatives upon seven days notice during the Term and for a period of seven years following submission of the End-of-Grant Report or for such longer period as the HRB may require whether they are located on premises owned or occupied by the Host Institution or otherwise.
5.4 The HRB or its authorised representative(s) shall be entitled to enter any premises owned or occupied by the Host Institution or over which the Host Institution have control or right of access in which any Grant Funded Activity is being conducted and/or the Financial Records or other records are being stored for the purposes of inspecting the premises, observing procedures, inspecting the Financial Records and other records and doing all things necessary to satisfy itself that the Host Institution has complied with all of the Grant Conditions.
