5 tips to a successful EC audit
If you are a beneficiary of an EU-funded project, the possibility of undergoing an EC audit may have crossed your mind and even kept you awake at night.
A significant percentage of beneficiaries will receive audit invitation letters and, unlike spam mail, to simply ignore them is not an option. Once the letters are officially sent by the EC, the clock is ticking and you will soon have auditors visiting your company headquarters.
Here are five tips to weather the audit successfully and get on with your innovation:
1. Keep calm and get organized
Most of the work for an EC audit is “tidying-up”, meaning you probably already have all the information you need. All that is needed is to organize it properly and prepare documentation to show the auditors the work was done and project records kept in order.
Sometimes “organizing” the information may be just “reshaping” it in a different format. Since the way auditors carry out their checks is not strictly prescribed, the Indicative Audit Programme gives auditors flexibility depending on the programme and type of audit.
2. Read the invitation letter carefully!
The invitation letter and related official documents you will receive via the Funding & Tender portal and by email are full of details. Take the time to read them carefully!
Deadlines may be too strict and tight for your internal organization. Make sure you have time to prepare all requested documents and, if not, try to negotiate with the EC and the selected auditors to postpone the on-spot visit.
It is also crucial to understand who the main actors involved in the audit will be on both sides. From the EC side, it is possible that the EC hires external companies to run the audit at your premises; from your side, you will need to identify key employees and collaborators to participate in the process, which leads us to the third tip….
3. Involve and prepare your team
The preparation of an EC audit involves teamwork. Employees and collaborators involved in the project must be involved in the preparation of the audit to share their expertise. Prepare your team for what is to come and have them prioritize the audit preparation over other long-term tasks -in EC audits, time is tight and you need your team’s full potential.
4. Be prepared for “out-of-scope” requests
EC audits can be quite broad in scope. You may expect only project-related information to be requested, but keep in mind that general company information such as annual accounts or company policies for salaries or purchase can also be requested by the auditors.
5. Get help!
Finally, the most effective and safe way to ensure your audit process will be handled and finalized successfully is get expert help. At Polite we have helped dozens of HE beneficiaries to successfully pass their ex-post audit processes.
Get in touch hello@getpolite.eu and we will be happy to do the same for your project!