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Financial Affairs Group (FAG)

Terms of Reference

  1. To oversee the implementation of the recommendations in the Financial Affairs Working Group ("FAWG") Report;

  2. To advise UGC on the implementation of the recommendations in the FAWG Report;

  3. To advise UGC on the appropriate mechanism by which the cost allocation practices of the institutions can be periodically reviewed and endorsed;

  4. To consider and endorse Financial Affairs Expert Working Group ("FAEWG")'s proposals necessary for the implementation of the recommendations in the FAWG Report;

  5. To advise UGC on any issues relating to the good financial governance and sound financial planning of the UGC-funded institutions; and

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