Expert Session Review: Avoiding financial mismanagement & getting ready for a CFS & audits

Our last Expert Session covering the topic of financial management in H2020 attracted hundreds of project managers. Check out the review and watch live recording of the webinar!

Svetlana Myagkova | Sep 24. 2020
Webinar H2020 financial management

This insightful Session focused on understanding what are the different levels of control and different levels of audits under EU projects, in particular Horizon 2020. Jeanne shared with participants some expert practices and tips for the contradictory reports, as well as helped to identify all of the supporting documents you need to get ready for those reports and audits.

In the beginning she gave a short reminder about the major contractual obligations that European project managers are compel to, namely accounting obligations, the obligation to inform/report, and the obligation to archive and submit to controls. All of these obligations are a part of the Grant Agreement which one is signing as a member of a Consortium with the EC.

First, Jeanne talked about different types of control happening in Horizon 2020. She noted that for each project lifetime there are certain types of control and highlighted three significant phases - everything that happens before the project (the ex-ante type of controls), during the project (the implementation controls), and when the project stops (the ex-post controls). Detailing each of these moments, she provided participants with her expert practices and advice on dealing with all of the certificates, assessments, and audits under Horizon 2020.

Second, Jeanne gave a detailed overview over the supporting documents coming from the CFS and the guidance online. She thoroughly presented the supporting documents for the personnel costs, subcontracting, and other costs (travel, equipment, indirect, etc). She also listed the items eligible invoices must comprise to be eligible, namely legal entity address (corporate name), company registration number, date, place, recipient's contact information, VAT, price, and name of the European project when possible.

In the end of the webinar Jeanne mentioned some additional documents, such as proof of payments, reports (financial & scientific), publicity checks, grant agreement & amendments, minutes from meetings, participation sheets, photos, and administrative data from the organization. Also, she strongly advised to organise blank audits before happening, to be sure during the implementation phase that the procedures are followed and at the end of the project that everything is done before closing the project entirely and if necessary to look up the potential solutions.

Interested in H2020 financial management?

Watch this webinar to make sure you have all the keys to submit a Certificate on Financial Statement and prepare for a Financial Audit.

Build your winning EU project consortium: 3 top basics to get you started

Nov 13. 2020

Have a look at this article that will guide you through successful tips and advice you can use when starting a quest for your future EU project partners and consortium.

Expert Session Review: 5 steps to take when you've received an H2020 grant

Nov 12. 2020

This Expert Session is for everyone working as a project manager or an accountant administering the financial aspects of an H2020 project. Check out the review and watch the recording of the session!

Collaboration, innovation, & beating the competition in Horizon Europe

Nov 2. 2020

This article focuses on the main aspects of successfull and secure collaboration in the new R&I Programme – Horizon Europe, and explains the importance of efficient Project Management.

Stay informed

Updates and expert insights straight to your mailbox