External audit of co-financed projects
In the upcoming financial framework for 2021-2027, Poland will remain the largest beneficiary of funds from the European Union budget under the cohesion policy. This substantial allocation represents a significant opportunity for the advancement of the Polish economy.
The availability of EU funds opens up promising offer promising prospects for business development, necessitating strict compliance to numerous, often intricate guidelines.
An invaluable aid for the execution of EU co-financed projects is the external audit service.
External Audit at SWGK
Our expertise, experience and qualifications empower us to deliver specialised external audit services for EU co-financed projects and beyond.
Our audit includes the verification of:
- project documentation and the extent of project implementation
- compliance of the project implementation with the stipulations of the co-financing agreement
- compliance with/adherence to accounting, procurement and public finance regulations, including compliance with public finance discipline
- accuracy of posting expenditures incurred under the recording project-related expenditures, their legitimacy, method of documenting and separating them in the accounting records
- functioning of the internal control system in project implementation
- timeliness of accounting for funds received for project implementation
- monitoring of indicators for achieving project objectives
- storage and security of project documentation
At SWGK, we conduct both mandatory and discretionary external audits.
Following an external audit of a project, your company will receive a report containing audit findings and recommendations for the proper execution of your project.
The report on the auditcontains/comprises specific guidelines for completing documentation, recommendations for enhancing project implementation security, and an identification of of tools and document templates to improve project management.
An external audit at SWGK will yield numerous benefits for your company:
- Ensuring project implementation complies with applicable guidelines.
As part of the audit, we verify the project’s compliance with the provisions of the co-financing agreement, programme guidelines and applicable laws. We scrutinize the accuracy of the accounting system, reporting system and project implementation reporting system. We also evaluate the he application of the competitiveness principle or the PZP.
- Identification of Risks Affecting Project Success
The purpose of the project risk analysis is to identify potential risks during and after project completion. This knowledge will facilitate taking corrective actions to minimise their impact on project implementation and your company’s reputation.
- Optimisation of Allocated Support
We will assess the effectiveness of the internal control systems adopted in your company and their compliance with the material and financial schedule of the project. Also, we will identify areas where there is potential to optimise the use of grant, leading to a more efficient allocation of company resources.
- Improvement of processes related to project implementation
Our project process analysis will identify areas for improvements, contributing to the enhancement of project management processes and the company’s operations.
- Support for Business Decisions
The findings from our audit provide valuable insights for informed strategic business decisions regarding further project implementation and allocation of company resources.