They need to ensure that their audit methods are up-to-date, accurate and capable to uncover bad governance so that they can recommend innovative and adequate solutions.
Old threats in a new environment
Due to the expanding of responsibilities and new fields of activities, public sector auditors need to extend their know-how on a daily basis. At the same time, fraud and corruption remain the biggest threat to a proper functioning of public institutions. The European Academy for Taxes, Economics & Law supports internal and external auditors by providing the high-quality practical seminars and trainings in key issues such as:
Extend your expertise by participating in the various events held by the European Academy for Taxes, Economics & Law in this area.
See our range of training opportunities in EU Funding here.
In times of austerity, audits of public procurements have gained in importance. However, practitioners from public administrations often find auditing public procurement processes to be one of the most challenging and complex fields to audit. Misspent public money in low quality services and goods can endanger both the financial and operational integrity of an organisation.
The European Union provides various funds and instruments to support stakeholders such as universities, research centres and companies in the fields of research and development and the commercialisation of research results. However, financial accounting and reporting of EU-funded projects are considered very time consuming and complex.
Many authorities within the management and control system of EU Funds still face considerable difficulties and uncertainties when it comes to detecting and handling (suspected) fraud cases. They are presented with the challenge of distinguishing these cases from irregularities as well as identifying necessary actions.
In current times of tight public budgets, public administrations must set and achieve their goals in the most effective, efficient and economical way. This new obligation also alters the responsibilities of auditors in the public sector.
Meet the financial control requirements and reduce risk of incorrect reimbursements of EU Funds. The European Commission has set out detailed arrangements on the management and control systems to be operated by Member States for the EU Structural Funds in both programming periods (2007-2013 and 2014-2020).
Errors in handling EU Funds finances can seriously jeopardize your project! EU-funded projects put high demands on project leaders and coordinators. Especially the correct financial accounting of the project constitutes a great challenge.
A crucial part of public spending today is handled through public procurement procedures aiming to ensure financial prudence when dealing with taxpayers’ money. Thus, public institutions are required to transparent, effective and efficient measures to safeguard public finances.
National, European and international public institutions are under increasing pressure to achieve more and more with less and less. A solution to this problem is the introduction and implementation of a professional management of business processes that helps institutions to operate successfully despite budget cutbacks.
The ESI Funds 2014-2020 offer the possibility to support an operation comprising a series of works, activities or services of a precise economic or technical nature (for which the total eligible costs exceed 50 million Euro) as well as operations contributing to one thematic objective (where the total eligible costs exceed 75 million Euro) such as transport, water, waste and energy projects.
The European Union (EU) and its Member States are the world’s biggest donors, providing more than half of all development and humanitarian aid worldwide. However, in order to cooperate successfully with the EU and to benefit from the external cooperation funds, beneficiaries have to follow a multitude of administrative regulations and fulfil all external audit requirements.
Higher education and research institutions face unique challenges in Internal Audit. Their complexity, individuality and diverse foci and fields of work make for a wide array of issues, which are not covered by common place Internal Audit knowledge covered by Internal Audit in the private sector.
With the start of the new programming period 2014-2020 new regulations and rules regarding financial management, control and audit have been introduced. On the basis of the Common Provisions Regulation, Fund-specific rules as well as delegated and implementing acts EU-Member States have created and set up management and control systems for the European Structural and Investment Funds (ESI Funds) 2014-2020.