Audit preparation assistance

First level controls (FLCs) or EU audits as second level controls are in general announced in advance and accompanied by a questionnaire to be prepared. This gives you not only time to prepare the audit but also to ensure that the project expenditure complies with the eligibility requirements of the grant agreement. Even after the project end and before the start of the audit there are completely legal possibilities to ensure compliance to a maximum extent. We have already helped saving hundreds of thousands of euro for fund beneficiaries by ensuring that appropriate supporting documents for project expenditure is in place. Non-compliance aspects could often impact multiple, similar transactions, resulting in even a single non-compliant expense being extended to all similar expenses by the first level controller or the EC auditors and thus having a huge financial impact in the end.

A preparation starts from the analysis of the eligibility criteria in the grant agreement. These criteria are often similar among all different types of EU grant contracts but there could be differences and there is also an evolution in eligibility requirements from one multi-annual financial framework (MFF) to the next MFF. In many cases, the eligibility requirements of an EU grant are much more demanding than other donors’ grant contracts. This complexity requires a thorough preparation. The output of our service is a properly structured file with all required supporting documents for the project expenses. We will particularly pay attention to issue recommendations to you in order to make sure that any deficiencies in internal controls or supporting documents for expenses are remedied and avoided in the future.

As certified auditors exclusively dedicated to EU funds audits, we know exactly what it takes to ensure that project expenditure is eligible and avoid time consuming, costly and negative audits. We are also fully knowledgeable obviously about how auditors prepare their sample.

Our services could also include assistance during the EU audit process itself, at your office or remote, the closing with the auditors and even the contradictory comments phase on the EU audit report to which you are entitled and which is a crucial phase in the audit process as it will form the basis for the EU to conclude on the audit and possibly claim back or reduce amounts due.