The fi-compass ‘Knowledge Hub – Audit and control of financial instruments 2014-2020’ took place between April and July 2021. Expert practitioners came together with specialists from the European Commission, DG REGIO and fi-compass to consider a number of topics related to the audit and control of shared management financial instruments in the 2014-2020 programming period.
The discussions considered the audit and control framework for shared management financial instruments. The methodology for audit and control should take into account the specific risks linked to the implementation of the financial instruments, which are different from those of grants. The measures should also reflect the different types of financial products (loans, guarantees, equity, quasi-equity), the different implementation options, and the different phases of implementation (set-up phase, implementation phase and closure when eligibility is confirmed).