Financial Compliance

Financial compliance is a catch-all term used to describe a variety of reporting, monitoring, and review (with or without approval) activities conducted by central financial administration to demonstrate institutional compliance with financial requirements, policies and procedures; give unit leaders visibility into key business processes; and provide frontline staff with tools to help them perform their work in an efficient manner. While Finance Outreach and Compliance (FOC) is not directly responsible for all of the financial compliance activities performed at UVA, we are involved in the establishment and update of finance policies and procedures and develop and deliver training to University finance professionals on the associated systems and processes. Because of its training role, FOC can also serve as a resource to assist in the identification of applicable institutional policies and facilitate problem-solving for unit personnel taking on new responsibilities or leading new initiatives.