Audit

The Beneficiary(ies) accepts to allow verifications to be carried out by the European Commission, the European Anti-Fraud Office, the European Court of Auditors and any other auditor authorised by the Contracting Authority.
The Beneficiary(ies have to take all steps to facilitate their work(art. 16 – General Conditions).

The Beneficiary(ies) shall allow the above auditors to:

  • access the sites and locations at which the Action is implemented;
  • examine its accounting and information systems, documents and databases concerning the technical and financial management of the Action;
  • take copies of the documents;
  • carry out on the-spot-checks;
  • conduct a full audit on the basis of all accounting documents and any other document relevant to the financing of the Action.

Accounting and book-keeping system
The Beneficiary(ies) shall keep all records, accounting and supporting documents related to the contract for five years following the payment of the balance and for three years in case of grants not exceeding 60,000 euro, and in any case until any on-going audit, verification, appeal, litigation or pursuit of claim has been disposed of. Moreover, all supporting documents shall be available in the original form, including in electronic form.

Grant Beneficiaries should therefore keep accurate and regular accounts of the implementation of their actions using an appropriate accounting and double-entry book-keeping system. These system may either be an integrated part of the organisation’s regular system or an adjunct to that system, and should be run in accordance with the accounting and book-keeping policies and rules that apply in the country/ies concerned. Accounts and expenditure relating to an Action must be easily identifiable and verifiable. This can be done by using separate accounts for the Action concerned or by ensuring that expenditure be easily identified and traced to and within the Grant Beneficiary’s accounting and bookkeeping systems.

The Grant beneficiary must ensure that the financial reports (both interim and final) can be properly and easily reconciled to its accounting and book-keeping system and to the underlying accounting and other relevant records. For this purpose the Grant Beneficiary shall prepare and keep appropriate reconciliation, supporting schedules, analyses and breakdowns for inspection and verification.

Resources and useful links:
General Conditions

ATTENTION! The information included in this website refer to the rules of the PRAG 2014. The website is currently under revision to be aligned to the 2016 PRAG.