2 Days Training Course

FINANCIAL ADMINISTRATION & AUDITING PREPARATION
FOR E.C. FUNDED PROJECTS

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

Upcoming Courses

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.

Day 1

Legal Framework behind the H2020 Financial Framework and changes under the new programming period 2021-2027 Horizon Europe

  • The EC Financial Regulation – legal basis for EU funding, principles, management modes, control standards for a Sound Financial and Control Management system
  • Horizon Europe 2021-2027 – how it steps on H2020 and how it differs (rules, reimbursement rates)
  • Participation in the Guarantee Fund – the EC risk reserve tool
  • The Grant Agreement and its Annexes – what the Commission wants from beneficiaries and what it awards them

Eligibility of costs subject to reimbursement

  • Common principles of eligibility
  • Direct vs. Indirect costs
  • Keeping records
  • Actual vs Unit costs accounting

Direct costs – Personnel costs

  • Productive hours and hourly rate
  • Supplementary contracts
  • Unit costs (SME owners and Natural persons)

Day 2

Direct costs 

  • Subcontracting and Implementing contracts
  • Financial support to Third Parties
  • Travel and subsistence allowances
  • Other direct costs
    • Equipment
    • Administrative costs
    • Non-recoverable VAT

Indirect costs

  • General rules
  • Flat rate

Ineligible costs – identify and avoid errors from claiming them

How to treat Income from H2020 project?

EC Audits and conditions for final payment

Examples and questions

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 is an experienced internal and external auditor, both in the private sector and in management and audit of EU-funded projects.

As Internal Auditor, Sara was actively involved in the audit and financial administration of pre-accession EU funds in Bulgaria (SAPARD, ISPA and PHARE) and held many training courses for government officials there. Sara also worked for more than three years as internal auditor of EU Agencies and bodies in the European Commission in Brussels, providing services in risk management, assessment on internal control system, and consultancy.

As External Auditor of EU Funds beneficiaries, Sara worked another three years in the Common Audit Service (CAS) of the European Commission (DG RTD), responsible for the outsourced audits of FP7 beneficiaries, partly also for the development of the procedures used for audit of personnel costs under H2020 funding, and consultancy for entities funded under Art. 185 of the TFEU (e.g. PRIMA, Barcelone).

Sara is also consulting NGOs managing EU4Health funded projects, in Brussels, Belgium.

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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