The service of EU funds absorption audit is connected with the regulations for EU grants settling. It is highly recommended to benefit from the experience of professional auditors.

EU funds absorption audit

EU funds absorption audit is conducted before at least a half of the grant for the project is used. The audit can be done:

  • in the duration of the project (auditor’s opinion concerns the amounts and data only until the audit is being conducted)
  • in the final phase of the project (preliminary examination after half of the grant is spent; final examination in the final phase of the project; final auditor’s opinion is issued after the final analysis, however some recommendations are made after the initial analysis in a letter to the board, where the auditor indicates identified errors and risks.)

The scope of the audit includes:

  • internal control and defining the level of risks concerning incorrect use of EU grants,
  • tests to ensure that internal controls were continuous,
  • audit of cost eligibility, their documentation and recognition in a separate bank account itemized in the chart of accounts,
  • analysis of the timeliness and amount of received funds,
  • checking payout requests against accounts,
  • chcecking credibility of project realization reports,
  • verification of the way of monitoring the project (achieving the project objective).