Why is an external project audit more than just a formality?
Under the 2021–2027 financial framework, Poland is the largest beneficiary of EU cohesion policy funding. This creates significant opportunities for Polish companies, while at the same time imposing strict and often highly complex formal requirements.
Programme guidelines, expenditure eligibility rules, public procurement regulations and public finance discipline are all areas where an error may result in a financial correction or the need to repay funding. An independent external audit helps minimise risk and identify issues before they are detected by the relevant supervisory authority.
We conduct both mandatory audits required under the terms of funding agreements and voluntary audits commissioned by companies that want to ensure their projects are being implemented correctly.
What do we verify as part of an external project audit?
Our audit covers all key areas involved in the implementation of a funded project:
- Project documentation and the progress of planned activities
- Compliance with the provisions of the funding agreement and programme guidelines
- Correct application of accounting, public procurement and public finance regulations
- Correct accounting treatment of expenditure, its eligibility and justification, supporting documentation and separate recording in the accounting records
- Operation of the internal control system in relation to the project
- Timely settlement of funds received
- The method used to monitor project performance indicators
- Retention and safeguarding of project documentation
Following the audit, you receive a report setting out our findings and specific recommendations, including tools and document templates that will help streamline project management at subsequent stages.
Compliance with guidelines, without surprises.
We verify whether your project is being implemented in accordance with the funding agreement, programme guidelines and applicable legislation, including the competitiveness principle and public procurement law. This gives you confidence that your project is properly prepared in the event of an inspection.
Early identification of risks.
We identify potential risks both during project implementation and after its completion. By identifying them early, you can take corrective action before a financial correction or repayment of funds becomes necessary.
Better allocation of funding
We assess the effectiveness of internal control systems and their compliance with the project's implementation and financial schedule. We also identify areas where the use of grant funding can be optimised to ensure that the available funding is used as effectively as possible.
More efficient project management
Our analysis of project processes identifies specific areas for improvement in documentation, reporting and internal procedures. You come away from the audit with practical tools, not just a list of shortcomings.
A reliable basis for further decisions.
The audit findings provide a reliable source of information for decisions on the further implementation of the project and the allocation of company resources, particularly when you are planning further rounds of funding.
