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Financial Affairs Expert Working Group (FAEWG)

Terms of Reference

  1. To work with UGC-funded institutions on the implementation of recommendations in respect of cost allocation and financial transparency in the Financial Affairs Working Group ("FAWG") Report;

  2. To review the cost allocation recommendations with a view to establishing detailed guidance for institutions;

  3. To explore the possibility of introducing the Transparent Approach to Costing and full Economic Costing guidelines;

  4. To advise Financial Affairs Group ("FAG") on drawing up and updating related guidelines, and any financial matters in connection with the implementation of recommendations in the FAWG Report; and

  5. Where necessary, to engage external professional services to support the work.