Audits and certificates
The European Commission’s audit policy in terms of research funding comprises three instruments: Certificates on the financial statements (CFS), Certificates on the methodology (CoM & CoMAv) and the so-called ex-post audits.
Certificates on the Financial Statements (CFS) are issued to confirm the accurate accounting of the costs charged to the European Commission at the end of each reporting period. The submission of a CFS is mandatory for every cost claim that is equal or superior to EUR 375,000 (cumulative) per partner.
Certificates on the methodology are an ex-ante option for frequent FP7 participants to minimize the ex-post requirements to prove that cost claims have been correct. There are two types of certificates: the Certificate on the Methodology for Average Personnel costs (CoMAv) and the Certificate on the Methodology for Personnel and Indirect costs (CoM).
Ex-post audits are financial controls that will be carried out either by the European Commission or authorized auditors during or after the lifetime of a project. Their purpose is to reassess that only eligible costs have been claimed by the beneficiaries. All FP7 participants may potentially become subject to such an ex-post financial control.