D.3 - H2020 and Horizon Europe Financial Audits

This course is a practical workshop on how EC Audits are performed for an organization participating in EU projects. The participants get practical experience by playing the role of a reviewer, going through the audited company, its accounting and management principles, and the project that is being audited. The objective is to o identify the mistakes and/or miscalculations in favour of both the EC and the Beneficiary, and to summarise them in a Draft Audit Report. Through this exercise, the course participants will get a clear understanding of the processes before, during and after of EC financial audits; and get an insight to the on-site audit process and to managing it successfully.

Our Horizon Europe seminars are distributed into 5 topics (A-E) on three knowledge levels (1-3). Read more about the different courses.

08:45 – 09:00 Arrival

09:00 – 09:15 Workshop: The EC Audit – Kick-off Meeting: Briefing of the "Auditors"

The Participants (now as Auditors) are briefed about the Workshop –
introducing the audited company, its accounting and management
principles, and the project that is being audited. Defining the scope of
the Workshop – beware, it’s a competition! 😊

09:15 – 12.00 Workshop: The EC Audit

Participants become EC Auditors – all participants in small group of 4-5 each receive a tailor-made HE/H2020 project documentation, including Financial Statements (Form Cs), full financial background documentation, a project periodic report and other supporting documentation for a virtual H2020/HE project.

The primary objective is to identify the mistakes and/or miscalculations in favour of both the EC and the Beneficiary, and to summarise them in a Draft Audit Report.

(10:30 – 10:45 Coffee break) / (12:00 – 13:00 Lunch break)

13:00 – 14:15 Analysis of the Workshop

Discussing the findings of the audit process, finalising the Draft Audit Report. Possible consequences and outcomes of the EC Audits. Announcing the winner group of the workshop

14:15 – 15:00 EC Financial Audits in theory and in practice

Learn how to avoid errors in the financial administration and reporting of your H2020/HEU project; and about the typical mistakes and systematic errors in personnel costs that may lead to significant losses. Understand the processes before, during and after of EC financial audits; and get an insight to the on-site audit process and to managing it successfully

15:00 End of course