The role of internal control and financial audit in implementing European financed projects from European social fund category

Dumitru NICA, Cristinel-Claudiu COCOȘATU, Liviu TOMOIAGĂ

Abstract


In the beginning we have discussed the role of internal control in
implementing European financed projects by the European Social Fund, type
POSDRU and PODCA. The paper continues by emphasizing the main
requirements presented in ISRS 4400 entitled “Missions based on agreed-upon
procedures regarding financial data” for the auditing of ESF financed
programs.
Later on, we have focused on some defining criteria incorporated in
CAFR guides and resolutions for POSDRU type European projects according
to the European Directives standards. Furthermore we have analyzed some
requirements mentioned in the Beneficiary Manual elaborated by
AMPOSDRU and AMPODCA in relation to the audit for POSDRU and
PODCA type projects. In the end, we have presented the conclusions and
suggestions we have come along as a result of our research.


Keywords


internal control, types of internal control, internal control system, ISRS 4400 objective, audit procedures, actual facts report elements, finalizing an audit mission, audit beneficiary, independent financial auditor, objective of a mission based on agree

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References


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