From understanding the financial aspects of H2020 to delivering model Financial Reporting and successfully dealing with on-the-spot audits.
During the last years, either with on-the-spot visits or with desk reviews, the European Commission has increased the audits of H2020 beneficiaries, significantly. Unfortunately the EC identifies mistakes and errors and takes recovery and other actions in more than 60% of these audits. These fully preventable errors occur because a great number of beneficiaries are unaware of their record keeping obligations and the potential consequences of incorrect financial management.
For this reason we have designed this course to provide participants with a thorough understanding of the financial aspects of the European-funded projects, starting from the very basics and leading to the most advanced issues. The three-day training offers a solid understanding of the terminology, obligations, methods and procedures, and will equip participants with all essential skills and knowledge required for the financial management of EC-funded projects.
The course is structured on a practical and hands-on approach and includes step-by-step guidance along with tips and hints and it is designed to improve the know-how necessary to accurately prepare financial reports and be in a position to successfully deal with on-the-spot audits.
Counter to many learn-by-doing courses, this complete three-day training has been developed by experienced H2020 Coordinators and former external Auditors of the EC, and is delivered by qualified Auditors who have for years been probing beneficiaries of various European grants and instruments. The training material contains case studies crafted on typical and less common observed mistakes of hundreds of audited beneficiaries and includes lecture-style delivery and discussions structured to provide answers on real issues that participants face.
Participants of the three-day training will learn:
The contractual requirements for EU-funded projects Documentation and record keeping requirements How to do document project finance How to correctly distinguish and record economic and non-economic activities How to identify eligible and non-eligible costs The differences between direct and indirect costs How to implement audit recommendations Differences between external and EC audits How to prepare for financial audits How to respond to pre-audit questions from the EC How to act during on-the-spot checks How to avoid disputes