Training Courses 2017

Financial Management of EC Projects

From the fundamentals to dealing with the audit procedure

EASN and EFMC are jointly organizing a series of training courses on “Financial Management of EC Projects”.

Following the positive feedback received during last year’s courses on Financial Management of EC Projects, we are pleased to announce a new series of trainings to take place in the first half of 2017.

About this course

Any European funded project is subjected to audit by the European Commission, H2020 projects for up to two years and FP7 projects for up to five years after they have ended. During the last years EC audits have significantly increased as to ensure that transparent and sound practices are applied and public money is well spent.

This training will acquaint you with the financial rules and the EU projects environment from the very basics to the most advanced issues. It includes all the essentials for a solid understanding of the terminology, methods and procedures and will guide you from the fundamentals, all the way to mastering financial management. It contains step-by-step guidance along with tips and hints and it is designed to improve the skills necessary to those involved in the financial and managerial aspects of European funded projects.

This is not a course offering insights; any Project Manager who has been audited a couple of times could offer that. What is wrong with the experience based courses is that by definition, one can only speak about issues he faced himself. Instead, this is a complete three days training, led by a former external auditor of the EC, that focuses on all aspects of financial management of EC Funded Projects. At the end of the course, you will be able to understand the methods and procedures of EU projects financial management, accurately prepare a financial report and be prepared for all aspects of an audit control.

During the three days course, special attention will be given to how you can prepare and deal with an audit, by examining common mistakes often found during the audit process and how to deal with them. Really, wouldn’t you want to know what auditors are looking for before they even arrive at your premises?

Strictly limited seats per course ensure a much more focused learning experience and a customized programme.

Courses are organised in several European countries, so choose the one which is most convenient for you and enrol today!

Why Us?

As partners in several projects ourselves we have noticed that while over the last few years EC audits have significantly increased, several of our partners were unaware of the potential consequences of incorrect financial management and not ready to deal with an audit.

Since the European Commission can order Checks, Reviews, Audits and Investigations, we feel much safer knowing in advance what the auditors may be looking for. Since initiating our partnership with EFMC, some of the world’s largest organizations, Universities, Research Establishments, FP7 & H2020 National Contact Points as well as new and developing companies have taken advantage of this unique training course.

Contrary to other experience based courses, our training is led by a former external auditor of the EC and not by someone who has just been audited a couple of times. The course’s training material is based on the mistakes of hundreds of audited entities and projects, enriched with little secrets and reinforced by a mix of learning methods, including lecture style presentations, open discussions, case studies, simulations and group work.

Course Syllabus

The full course takes place over 3 days:

Day 1

Fundamentals of financial management

DAY 1 sets the frame of the EU projects environment.

The first day of the course is designed to set the foundations for a solid understanding of the terminology, general basis of the financial project management, methods and procedures. It has been proven very useful for people who have never before worked on an EU project but also for those knowing their ABC but want to fill in missing gaps.

View Agenda

Day 2

Preparing a financial report

DAY 2 goes into the financial aspects of projects, including the reporting principles applicable to the majority of projects.

The second day of the course is developed to give a sound understanding of the financial management and reporting. It includes all important elements to help participants prepare financial reports correctly.

View Agenda

Day 3

Mastering the audit procedure

DAY 3 is set to give an in-depth understanding of not-so-common aspects and on the audit procedure.

It is designed to create confidence and to eliminate the possibility of facing “unpleasant surprises” during an audit. It includes very important tips and hints along with potential remedies.

View Agenda

Attendees Profile

Over the last year, we have been designated by leading European companies as their preferred supplier for Financial Management Training Services. Our courses are attended by individuals and groups of people from large companies and SMEs, Public Institutions, Universities and Research Establishments.

The course is designed to cover the needs of, among others:

Accountants, Internal Auditors & Heads of Finance Development Managers Grants Financial Accountants
Account Managers & Project Managers Directors of Research National Contact Points for H2020
Chief Financial Officers & Chief Internal Auditors Directors of Financial Services Policy Advisors
Co-ordinators and Controllers Financial Specialists Researchers & Professors
Prices vat exl.

You may chose to follow the full 3-day course (recommended) but you may also opt to follow only 2 days of the training.

3 days full training course: €1390
2 days training: €990
What is included

Participation to the training course includes:

  • Training material (electronic and/or hardcopy versions)
  • Daily coffee breaks and lunch
  • Certificate of attendance

Tailored Courses

Upon request and provided that there is sufficient audience, we can organise a course in your country and tailored to your specific needs. Feel free to contact us and make your proposal.

Inspections Results and Consequences
European Commission’s tools for Project Inspections

The European Commission can order Checks, Reviews, Audits and Investigations.

Checks are used to control the implementation of the action, to verify the compliance with legal obligations and to assess deliverables and reports. Checks can be performed by the Commission itself or by external bodies. These checks, can relate to any aspect of the grant and there are no time restrictions.

Reviews mainly concern the technical and scientific implementation of the action and can include financial and budgetary aspects. Reviews can be also executed by external experts and may in-clude on-the-spot visits or review meetings. Reviews can take place up to 2 years after payment of the balance.

Audits are focusing on the financial implementation of the action and can include technical and other aspects. Audits may be performed by the Commission itself or may be assigned to external auditors. Audits usually include on-the-spot visits and desk reviews. Audit ends with a report of the findings and a 30 days “contradictory audit procedure”. Audits can take place up to 2 years after payment of the balance.

Investigations are executed by the European Anti-Fraud Office (OLAF) and aim to discover fraud, illegal activities and corruption. Investigations can happen at any moment during or after the action and they usually include on-the-spot checks and inspections.

Implementation of Audit Results

  • Managed by the operational services in charge of project management
  • Normally adjustment of ineligible costs
  • Possibility of extension of audit findings to other grants of this beneficiary in case of systemic and recurrent errors
  • Administrative and financial penalties
  • Further financial and legal consequences: reduction of grant, suspension of payments, termination of grant, OLAF investigations, etc.

Consequences of Financial Mismanagement

Depending on the findings the consequences of an Audit can include:

  • Rejection of ineligible costs (Article 42 MGA)
  • Reduction of the grant (Article 43 MGA)
  • Recovery of undue amounts (Article 44 MGA)
  • Administrative and financial penalties (Article 45 MGA)
  • Suspension of payments (Article 48 MGA)
  • Suspension of the action implementation (Article 49 MGA)
  • Termination of the agreement or participation (Article 50 MGA)
  • OLAF findings may lead to criminal prosecution

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