Yale University officials said that they have received three subpoenas as federal regulators have launched a probe into the Ivy League school's accounting practices surrounding its government research grants.According to published reports, Yale received the subpoenas from the Department of Health and Human Services, the Department of Defense and the National Science Foundation. The subpoenas cover some 47 grants valued at roughly $45 million.

Federal authorities also have been interviewing Yale employees about the grant accounting issues.

A February report by the Department of Health and Human Services that referred to a gene research program found that more than a third of the university's more than $500,000 in invoices did not comply with federal standards, and costs were improperly transferred across budget cycles to make up for shortfalls.

"Regardless of the outcome of the current investigation, we must get all our processes right and make sure that we are good stewards of the funds entrusted to us by the federal government," Yale president Richard Levin said in a statement.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access