Audit commitment to verify and validate expenditure reflected in interim and final accounts of EU funded projects

The rules for the management of projects financed under European Union programs include a requirement to carry out an audit of costs and the implementation of activities under the approved project by a registered auditor or a specialized audit firm.

The audit engagement shall include an examination of the interim and final financial statements of projects for compliance of the reported costs and activities performed with all requirements of the Contracting Authority, the applicable national and Community rules.

Consulting related to projects funded by EU programs

Brain Storm Consult provides advice on the development and implementation of rules and procedures for financial management of projects funded by EU funds, staff training on their implementation and financial monitoring in all phases of the project cycle. We strive to maintain constant communication with our clients and together consider actions to eliminate possible mistakes and omissions that would have a negative effect on the implementation of projects.

Accounting and administration of projects funded by EU programs

Brain Storm Consult has many years of experience in:

• Preparation of individual accounts, payrolls, recapitulations, payment orders for remuneration under employment and civil contracts under the project;
• Preparation of summary statements for remuneration, reports on contributions of the employer under employment contracts, reports on the paid insurances under civil contracts according to the requirements of the specific operational program;
• Preparation of business trip orders and reporting of business trip expenses;
• Procedures for selection of service and equipment providers in connection with the implementation of the project;
• Observance of payment deadlines and reporting according to the budget framework;
• Current monthly monitoring of the implementation of the budget of the respective program in BGN and EUR;
• Maintaining an analytical system for reporting the direct and indirect costs of the project (costs by bank transfer, cash costs, costs of individual budget items);
• Preparation of interim financial statements and final financial statements with all necessary financial statements to it (according to the requirements of the financing agreement);
• Observance of payment deadlines and reporting according to the budget framework;
• Preparation of annual and interim financial statements in addition to Bulgarian, English or other language.

The activities are performed in compliance with the client’s requirements and observance of the principles of confidentiality included in the contract with Brain Storm Consult. For more information you can use the form “Make an inquiry” or write to us at sales@brainstorm.bg or contact us at +359 2 80 99 740.