2 Days Training Course

FINANCIAL ADMINISTRATION & AUDITING PREPARATION
FOR EU FUNDED PROJECTS

From understanding the Financial aspects of Horizon to delivering model Financial Reporting and successfully dealing with on-the-spot audits

2 Days Training Course & Certification

FINANCIAL ADMINISTRATION & AUDITING PREPARATION
FOR EU FUNDED PROJECTS

From understanding the Financial aspects of Horizon to delivering model Financial Reporting and successfully dealing with on-the-spot audits

Upcoming Courses

Short Course Description

Quick Facts:

  • Duration: 2 Days
  • Format: Online / On-site (scheduled in various cities across Europe)
  • Certification: Certificate of Training Completion (hard copy and digital)
  • Interactive Workshops: Practical exercises on cost eligibility, financial reporting, and audit preparation

Why Choose This Course

Developed by former EC auditors with extensive experience in EU funding, this course equips participants with the essential financial management and auditing skills required for EU-funded projects. The course covers the key principles of sound financial management as defined by the European Commission, ensuring compliance with EC regulations and enhancing your project’s financial performance.

Each session is tailored to participants’ specific needs based on a pre-training survey to optimise learning and address the unique challenges they face in EU project management.

Key Benefits

  • Exclusive insights from experienced former EC auditors
  • Master the financial rules governing EU-funded projects
  • Hands-on exercises to help you prepare for audits and financial reporting
  • Personalised content based on your specific needs and knowledge
  • Avoid costly mistakes with expert guidance on compliance and audit readiness

What You Will Learn

  • Understand the contractual and financial requirements of EU-funded projects
  • Identify and manage eligible vs. non-eligible costs
  • Prepare for financial audits and on-the-spot checks
  • Improve financial reporting and avoid financial corrections
  • Ensure Value for Money principles in budget implementation
  • Navigate EC procedures to maximise fund absorption

Are you managing an EU Funded project?

Are you struggling with the EC procedures for recognising your project costs?

Would you like to understand the WHY and WHAT in the Grant Agreement provisions that you are obliged to?

Have you wondered how to calculate the Day Equivalents for your personnel, working for one or more EU Grants?

Are you hesitating on how to ensure Value for Money principle is adequately followed in your budget implementation?

With this online course, you will equip yourself with in-depth understanding about the   sound financial management principles, defined by the EC Authorities.  If your project is funded with a Budget-Based Grant and so funding is dependent on your financial reporting…

.. or if you are considering future participations in EC Calls for Proposals – even for Lump Sum Grants – and so, you would have to draft a budget….

In both cases, solid comprehension on the financial rules and on cost eligibility is a prerequisite for cooperating with the EC Authorities.

The best strategy for defending your financial interests when requesting EU funding is to design your financial internal controls the way the EC auditors would check them!

The course will give you a wide range of considerations, that project managers need to well be aware of, when partnering EC Authorities. From a theoretical point of view – on what is to be a partner of the EC Authorities, and on the process of Grant Management for both the Grant Holder and for the Grant Authority – to the practical application of the cost eligibility criteria and relevant financial provisions in the Grant Agreement or in a Call for Proposal – you will have the “code” to solve the puzzle.

We discuss and practice how to correctly identify, calculate and justify the different spending lines into the Grant Agreement’s cost categories according to the general and specific eligibility criteria. The course is relevant for most of the EU Programme funding opportunities, with a special focus on Horizon Europe.

Participants of the two days training will learn: 

  • The contractual requirements for EU funded projects
  • Documentation and record keeping requirements  
  • How to document project finance
  • How to identify eligible and non-eligible costs
  • The differences between direct and indirect costs
  • 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 

Course’s Benefits & Outcomes: 

  • Become familiar with the current EU rules

  • Prepare accurate documentation

  • Avoid compromising your project

  • Avoid financial corrections and repayments due to incorrect financial recording

  • Increase absorption of your funds through simplifying application and reporting processes

  • Find out how to utilise the financial and auditing control tools

  • Increase your organisation’s competitiveness

  • Benefit from practical workshops and exercises

  • Learn from best practice examples of our experienced speakers

  • Benefit from key insights

  • Receive tangible and actionable advice on your individual questions

  • Network and exchange experience with peers and possible partners from across EU

  • National Contact Points for Horizon
  • Project Managers
  • Projects Administrators
  • Account Managers
  • Co-ordinators and Controllers
  • Managers
  • Development Managers
  • Directors of Research
  • Accountants
  • Auditors
  • Financial Specialists
  • Grants Financial Accountants
  • Heads of Finance
  • Directors of Financial Services
  • Chief Financial Officers & Chief Internal Auditors
  • Internal Auditors
  • External Auditors working for the Public Administration
  • Consultants advising Beneficiaries
  • Policy Advisors
  • From:
  • European Agencies
    Executive Agencies
    Certifying Authorities
    Competition Authorities
    National and Regional Audit Authorities
    National and Regional Courts of Auditors and Inspectorates
    Coordinating Bodies
    National and Regional Public Authorities
    Regional and Local Governments
    Development Agencies
    Subordinate Bodies
    Public and Private Beneficiaries of EU Funds
    Research & Technology Centres
    Public and Private Research Institutes
    Universities
    Spin-off Companies
    Clusters and Innovation Centres
    Private Companies of all Sectors
    Associations, Foundations, Non for Profit and NGOs
    Advisory and Auditing Companies serving EU Beneficiaries

     

Participation fee for the 2 days training:

In-Class €1490 excl. VAT
Online €1100 excl. VAT

Training package includes:

Admission to the course

Course’s Handbook

Hard copies of training material 

Certificate on the “Financial Administration & Auditing Preparation for E.C. Funded Projects” training completion

Certificate of attendance

Accreditation to Professionals Directory

Complimentary coffee & snack breaks

Complimentary networking lunch breaks 

Sara Dishkova
Certified Internal Auditor (CIA) since 2002

Sara has a long record of work experience in the domain of the internal and financial audit with a focus on managing EU Funds. She has been working in the European Commission, as a Certified Internal Auditor, on EU Agencies and other EU bodies, as well as Financial Auditor on beneficiaries of FP7 Research program.

As of 2020 Sara has joined the European Academy as a lead training consultant on EU Grants’ financial management. Her specialty spans from the experience in EU Research funds, through other EU Programmes as EU4Health, CERV and others.

Dimitrios Prilidis
Certified Auditor

Only recently left the B2 Unit, where for the last 4 years he has been conducting on the spot controls for beneficiaries. During his work, Dimitrios has contributed to the development and definition of new audit methodologies, approaches and strategies, guidance documents, manuals and other audit-related matters for Horizon 2020. Dimitrios has an extensive experience in Financial and Business Controls.

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QUESTIONS ABOUT THE COURSE

PM² is a project management methodology developed by the European Commission to help project managers deliver successful outcomes by managing projects throughout their complete lifecycle. Designed with the needs of EU institutions and projects in mind, PM² integrates globally accepted best practices, standards, and the operational experience of the European Commission. It provides a clear and structured framework that includes a project governance structure, process guidelines, artefact templates, and effective mindsets. PM² is light, easy to implement, and adaptable, making it suitable for a variety of project environments.

PM² offers several key benefits for managing EU-funded projects. It provides a structured framework that ensures alignment with EU standards, facilitating compliance with regulatory requirements and improving the overall governance of projects. PM² promotes effective collaboration among project partners by clearly defining roles and responsibilities, improving communication, and ensuring that all stakeholders are engaged throughout the project lifecycle. Its’ well-defined processes and artefacts help teams manage resources efficiently, monitor progress, and control risks. By fostering a comprehensive approach to planning, execution, and monitoring, PM² supports the successful delivery of projects within the defined scope, timeline, and budget, ultimately maximizing the benefits and impact of EU-funded initiatives.

PM² distinguishes itself from other project management methodologies through its focus on the European context, emphasizing compliance with EU regulations and facilitating cross-border collaboration. While it integrates best practices from established methodologies, PM² is specifically designed to address the governance, transparency, and stakeholder coordination challenges often encountered in European projects. Its’ adaptability and simplicity make it an ideal framework for diverse project environments, offering practical tools that can be customised without compromising on robust oversight.

PM² is highly adaptable and can complement existing project management practices by introducing specific tools and processes that enhance project efficiency, particularly in regulated or multi-stakeholder environments. It can be seamlessly integrated alongside methodologies such as PRINCE2 or Agile, allowing teams to benefit from PM²’s emphasis on governance and risk management, while maintaining flexibility in execution. This makes it especially valuable for organisations managing EU-funded or complex international projects, as it aligns project activities with strategic goals and compliance requirements.

PM² ensures project success by offering a structured approach that integrates clear phases, practical tools, and defined roles and responsibilities. It provides teams with artefact templates, process guidelines, and effective mindsets, helping them manage resources, risks, and stakeholder engagement efficiently. PM² also emphasizes setting clear milestones, maintaining strong communication, and focusing on quality management. This comprehensive framework helps teams stay on track, deliver results within scope and budget, and meet project objectives with greater confidence and control.

PM² ensures project success by offering a comprehensive framework that combines structured governance, clear process guidelines, and practical tools. It provides project managers with a governance structure, artefact templates, and detailed guidelines for using these artefacts throughout the project lifecycle. By clearly defining roles and responsibilities, setting project milestones, and promoting effective communication, PM² helps teams manage resources efficiently, mitigate risks, and engage stakeholders effectively. Additionally, its focus on quality management and continuous monitoring ensures that projects stay on track, delivering results on time and within budget, while aligning with the organization’s strategic objectives.

Yes, the course includes an in-depth session on risk management within the PM² framework. Participants will learn the importance of identifying and managing risks, PM²'s specific approach to risk management, and practical techniques for analysing and mitigating risks. The session also includes a hands-on workshop where participants will work on real-world scenarios, develop mitigation strategies, and share solutions to common project risks.

The PM² Methodology consists of four main phases: Initiating, Planning, Executing, and Closing. These phases represent distinct periods in a project's lifecycle, guiding project teams through key activities from project inception to completion. While each phase has a primary focus (e.g., planning activities peak during the Planning phase), activities often overlap across phases. Throughout the entire lifecycle, the methodology emphasises continuous Monitoring and Controlling to track progress, manage risks, and ensure project objectives are met. This structured, phased approach helps ensure project deliverables are well-defined, effectively executed, and successfully completed.

PM² fosters collaboration by clearly defining project roles and responsibilities, ensuring that every team member understands their specific tasks and accountability. The methodology encourages the documentation of roles, with any deviations or new roles justified and outlined in detail. Additionally, PM² promotes regular communication and alignment through structured meetings and the use of collaborative tools. This clarity and structured approach help ensure that all stakeholders and team members are working cohesively towards shared project objectives.

Yes, PM² can be effectively adapted to Agile environments. It provides a structured framework that complements Agile practices, allowing teams to maintain flexibility while still adhering to governance, compliance, and audit requirements. The PM²-Agile Guide (v3.0.1) offers detailed guidance on how to integrate Agile principles within the PM² framework, supporting the iterative nature of Agile projects. It enables self-organising teams to work autonomously while staying aligned with organisational governance and project objectives. This integration helps Agile teams navigate challenges such as coordinating with non-Agile teams, managing external collaborations, and ensuring proper documentation and compliance. By blending Agile principles with PM²'s structured approach, teams can achieve both agility and control, making it suitable for various project types and contexts.

PM² provides a structured approach to Project Portfolio Management (PPM) by linking project activities to an organisation’s strategic objectives. The PM² Portfolio Management Guide (v1.5) offers detailed guidance on how to effectively select, prioritise, and manage a portfolio of projects and programmes. It helps organisations allocate resources, minimise risks, and optimise performance across multiple projects. By aligning portfolio management with strategic goals, PM² ensures that project investments are effectively managed and reported to senior management, enabling better decision-making and improved alignment with long-term objectives.

Yes, the course offers a series of interactive workshops where participants actively apply PM² principles to real-world project scenarios. These hands-on sessions cover crucial elements like project initiation, risk management, stakeholder analysis, and project monitoring. Through group activities, peer reviews, and practical exercises, participants gain direct experience in using PM² artefacts and processes, ensuring they leave the course with practical skills to implement the methodology effectively in their own projects​.

GENERIC QUESTIONS ON COURSES PROCESS

To reserve a seat, you need to complete the course registration form on the course webpage, providing your personal details and your organisation's invoicing information. Within one working day, a member of the European Academy's Communications Team will contact you with a pro-forma invoice and further details. Pro-forma invoices are typically paid within two weeks of issuance, except in specific cases with exceptional circumstances. Your seat is tentatively reserved until payment is received, and your registration is finalized once payment is confirmed. For those paying online during registration, your seat is confirmed immediately, and a final invoice will be sent to you within one working day. If your organisation has specific payment requirements (e.g., adding a purchase order number or paying after course completion), you can note this in the comments section of the registration form for added flexibility.

Payments can be made via bank transfer or credit card, and all major credit cards are accepted. After registration, you will receive a pro-forma invoice to proceed with the payment via bank transfer. If your organisation requires a regular invoice instead, please let us know and we will be happy to accommodate your request. For those who choose to pay online during the course registration form submission, a final invoice will be sent within one working day. The payment is considered complete once the full amount is credited to the provider’s bank account. Please note that any bank charges or payment processing fees are the responsibility of the participant. The participation fee does not include travel, accommodation, or personal expenses, and VAT is applied separately if applicable.

After your registration is confirmed, you will receive a link to the Pre-Training Survey, which is sent one week before the course. This survey assesses your level of knowledge and understanding, and expectations from the course, allowing the expert to adjust the content to the specific needs of the group. In the week before the course begins, you will also gain access to the e-learning space, which remains available for 6 months after course completion. For online training, you will receive Zoom credentials and hard copies of the course materials delivered to your address via courier services. For in-class courses, venue information and directions will be provided, and hard copies of the materials will be distributed on the first day of training. Upon course completion, you will receive a link to the Post-Training Survey to provide feedback, along with hard copies of your Digital Certificate of Training Completion and a free voucher for the PM² Basic Certification Exam.

The training is offered both online and in-class at various locations across Europe, with upcoming cities announced on our website. Whether you attend online or in-person, the course combines lectures, interactive sessions, and practical group exercises. The online training is conducted through Zoom and uses collaborative tools to ensure high levels of interaction, allowing participants to engage with trainers and peers, take part in group discussions, and collaborate on exercises in real time, ensuring a dynamic and engaging learning experience.

For online courses, all sessions follow Central European Time (CET), which is the time zone of Brussels. In-class courses, however, follow the local time zone of the specific country where the course is being held. Please make sure to check the time zone when planning your participation, especially for online sessions.

Yes, all participants receive both soft and hard copies of the course materials. Soft copies are accessible through the e-learning space, which remains available for 6 months after the course completion. For online training, hard copies are delivered via courier services to the shipping address you provide during registration. For in-class training, hard copies will be handed out at the course venue on the first day, before the training begins.

Yes, upon successfully completing the course, you will receive a digital Certificate of Training Completion. This certificate will acknowledge your commitment and accomplishments throughout the training. You will have the convenience of easily accessing, downloading, and sharing your certificate, which can also be added to your professional LinkedIn profile, or shared with potential employers to highlight your new qualifications.

We understand that plans can change. Should you be unable to attend the course, you can request a cancellation at any time before the course start date. In some cases, full or partial refunds are available, depending on the timing of your cancellation. Additionally, you have the option to transfer your registration to a future course. For full details, please click here to view the course's terms and conditions.

Yes, you can transfer your registration to another participant without any additional fees. To do so, simply submit your request via email to [email protected] at least 7 days before the course start date. In exceptional circumstances, if you are unable to meet the 7-day notice for transferring your registration, you can still notify us via email, and we will review the request on a case-by-case basis to accommodate the transfer where possible.

Yes, group discounts are available for organisations registering multiple participants for the same course session. For more details, please contact us at [email protected], and we will be happy to provide information on the discount structure for group bookings.

Yes, we offer in-house delivery of our full range of training courses, either online or on-site. For larger teams or organisations requiring specific project assistance, this is an ideal option. If you are interested, simply send your request to [email protected], and we will be happy to prepare a comprehensive proposal tailored to your needs

Participants of the two days training will learn: 

  • The contractual requirements for EU funded projects
  • Documentation and record keeping requirements  
  • How to document project finance
  • How to identify eligible and non-eligible costs
  • The differences between direct and indirect costs
  • 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 

Course’s Benefits & Outcomes: 

  • Become familiar with the current EU rules

  • Prepare accurate documentation

  • Avoid compromising your project

  • Avoid financial corrections and repayments due to incorrect financial recording

  • Increase absorption of your funds through simplifying application and reporting processes

  • Find out how to utilise the financial and auditing control tools

  • Increase your organisation’s competitiveness

  • Benefit from practical workshops and exercises

  • Learn from best practice examples of our experienced speakers

  • Benefit from key insights

  • Receive tangible and actionable advice on your individual questions

  • Network and exchange experience with peers and possible partners from across EU

  • National Contact Points for Horizon
  • Project Managers
  • Projects Administrators
  • Account Managers
  • Co-ordinators and Controllers
  • Managers
  • Development Managers
  • Directors of Research
  • Accountants
  • Auditors
  • Financial Specialists
  • Grants Financial Accountants
  • Heads of Finance
  • Directors of Financial Services
  • Chief Financial Officers & Chief Internal Auditors
  • Internal Auditors
  • External Auditors working for the Public Administration
  • Consultants advising Beneficiaries
  • Policy Advisors
  • From:
  • European Agencies
    Executive Agencies
    Certifying Authorities
    Competition Authorities
    National and Regional Audit Authorities
    National and Regional Courts of Auditors and Inspectorates
    Coordinating Bodies
    National and Regional Public Authorities
    Regional and Local Governments
    Development Agencies
    Subordinate Bodies
    Public and Private Beneficiaries of EU Funds
    Research & Technology Centres
    Public and Private Research Institutes
    Universities
    Spin-off Companies
    Clusters and Innovation Centres
    Private Companies of all Sectors
    Associations, Foundations, Non for Profit and NGOs
    Advisory and Auditing Companies serving EU Beneficiaries

     

Participation fee for the 2 days training:

In-Class €1490 excl. VAT
Online €1100 excl. VAT

Training package includes:

Admission to the course

Course’s Handbook

Hard copies of training material 

Certificate on the “Financial Administration & Auditing Preparation for E.C. Funded Projects” training completion

Certificate of attendance

Accreditation to Professionals Directory

Complimentary coffee & snack breaks

Complimentary networking lunch breaks 

Sara Dishkova
Certified Internal Auditor (CIA) since 2002

Sara has a long record of work experience in the domain of the internal and financial audit with a focus on managing EU Funds. She has been working in the European Commission, as a Certified Internal Auditor, on EU Agencies and other EU bodies, as well as Financial Auditor on beneficiaries of FP7 Research program.

As of 2020 Sara has joined the European Academy as a lead training consultant on EU Grants’ financial management. Her specialty spans from the experience in EU Research funds, through other EU Programmes as EU4Health, CERV and others.

Dimitrios Prilidis
Certified Auditor

Only recently left the B2 Unit, where for the last 4 years he has been conducting on the spot controls for beneficiaries. During his work, Dimitrios has contributed to the development and definition of new audit methodologies, approaches and strategies, guidance documents, manuals and other audit-related matters for Horizon 2020. Dimitrios has an extensive experience in Financial and Business Controls.

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