On April 13-14, 2023, European Academy delivered an in-depth, in-class training session on Financial Administration & Auditing Preparation for EU Funded Projects to the Malta Information Technology Agency in Santa Venera, Malta. Led by experienced auditors and EU project managers, this course provided participants with a comprehensive understanding of financial regulations, audit procedures, and compliance essentials for managing EU-funded initiatives.
Key topics included:
- EU Budgeting and Grant Management: Overview of the EU’s multiannual financial framework, funding instruments, and the specifics of Horizon Europe, with practical guidance on structuring budgets and understanding cost eligibility.
- Sound Financial Management Practices: Effective governance, record-keeping, and managing payments and budget adjustments within the grant framework, along with in-depth discussion on eligibility criteria for direct and indirect costs.
- Reporting and Audit Preparation: Detailed breakdown of the reporting process, from lump-sum to actual costs, and best practices for financial reporting, ensuring readiness for both periodic reviews and on-the-spot audits.
- Direct and Indirect Costs Compliance: Strategies for handling personnel costs, subcontracting, in-kind contributions, and travel, as well as adhering to principles like value-for-money and conflict-of-interest.
Through real-world examples, case studies, and hands-on workshops, participants gained valuable insights and skills to ensure effective financial management and audit compliance in EU-funded projects.
Prepare your team for the challenges of EU project management and financial administration! Explore our open Financial Administration course or discover in-house training options for tailored financial management solutions.
