Post-award ServicesAUDIT SIMULATION

YOUR NEED

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

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

You’d like to have an in-depth review of one or more Financial Statements already submitted and approved to determine if there have been any significant errors that you should be aware of, including a quantification of the possible sums you might be required to repay to the European Union as a result of undue payments (e.g., an incorrect calculation of the hourly cost of personnel).

OUR SOLUTION

The Simulation of a Financial Audit is a service that allows you to experience an audit without the risk of the financial consequences that a real audit conducted by European Commission auditors would entail.

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

One of the most valuable benefits of this service is the ability to avoid the “panic effect,” typical of organizations undergoing an EC audit for the first time. Understanding the entire audit work cycle enables you to implement a preparation strategy in case an audit is actually ordered on the organization, allowing you to prepare in advance the information that will be requested before and during the auditors’ visit.

This service has also demonstrated significant beneficial effects on the overall grant management methods of beneficiary organizations.

Frequently Asked Questions

Q1?

A1

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