The role of internal control and financial audit in implementing European financed projects from European social fund category
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 agreeAbstract
In the beginning we have discussed the role of internal control inimplementing European financed projects by the European Social Fund, typePOSDRU and PODCA. The paper continues by emphasizing the mainrequirements presented in ISRS 4400 entitled “Missions based on agreed-uponprocedures regarding financial data” for the auditing of ESF financedprograms.Later on, we have focused on some defining criteria incorporated inCAFR guides and resolutions for POSDRU type European projects accordingto the European Directives standards. Furthermore we have analyzed somerequirements mentioned in the Beneficiary Manual elaborated byAMPOSDRU and AMPODCA in relation to the audit for POSDRU andPODCA type projects. In the end, we have presented the conclusions andsuggestions we have come along as a result of our research.References
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