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EC Financial Audits in FP7 – Get prepared for the inevitable!

June 12, 2012

A blog series by Gabor Kitley

Most of us are implementing FP7 projects with very good quality from a technical and research perspective. Financial issues are also taken care of with extra attention. But only some of us have been through an FP7 financial audit conducted by the EC, and even less had it without negative consequences.

Everyone knows that the EC Financial Audits are “part of the game”; still, only few of us are prepared for it. Our training participants are always surprised to see how (fast…) an audit is implemented in the “real life”; and they are sometimes shocked to hear the “horror stories” we have experienced at our clients.

Still, concluding an FP7 financial audit without any major consequences is not a “Mission: Impossible” at all. As we are and have been involved in many FP7 projects, we have been audited several times during the previous years.
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