Post-award ServicesAUDIT SIMULATION

YOUR NEED

You have already successfully participated in completed projects, without any particular problems from the point of view of administrative and financial management.

However, you should be aware that – although so far no findings have emerged from the European Commission on your management, the system of controls in place by the Union bodies extends beyond the time limit of the project, and financial controls could be ordered by the Common Audit Service (CAS) within two years of the payment of the balance.

You’d like to have an in-depth check on one or more Financial Statements already submitted and approved to find out if there have been any important errors that you should be aware of, including a quantification of the possible sums that you could be required to repay to the European Union as a result of an undue payment (for example an incorrect calculation of the hourly cost of personnel).

OUR SOLUTION

The Simulation of a Financial Audit is a service that allows you to face the experience of an audit, without however running the risk of enduring the possible financial consequences that a real audit conducted by European Commission auditors would have.

The final output of the service is a  Final Audit Simulation Report which allows you to be aware of the errors committed, and to be able to implement corrective measures in the Financial Statements already submitted (in the framework of a project still in progress), and in future ones.

Nonetheless, one of the most valuable benefits of this service is the possibility of avoiding the “panic effect”, typical of organizations that undergo an EC audit for the first time. Knowing the entire work cycle of an Audit allows you to implement a preparation strategy for the eventuality that an audit is actually ordered on the Organization, being able to prepare in advance the information that will be requested before and during the visit of the auditors.

This service has also demonstrated – in practice – to produce important beneficial effects on the overall grant management methods by the beneficiary organizations.

Frequently Asked Questions

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