Financial Advice & Compliance

Maintaining an accurate and compliant grant administration can be challenging. You need to document all relevant activities and expenses, while also meeting specific requirements set by the grant provider, which may not align with your existing administrative processes (Administrative Organisation and Internal Control, or AO/IC). Our Financial Consultants are here to help you set up and maintain a grant administration that meets all necessary standards.

Is your organisation currently running a grant project? And does your project administration – along with your Administrative Organisation and Internal Control (AO/IC) – comply with the grant provider’s requirements? Our Financial Consultants can perform a pre-audit to assess your grant administration and AO/IC, identifying key areas for improvement to help ensure full compliance.

Has your project received a positive evaluation from a European grant provider? Then it’s time to enter the Grant Agreement negotiations: a detailed and formal process outlining project duration, funding, deliverables, reporting deadlines, and payment terms. These negotiations are time-consuming and require precision. The agreement is binding, and all activities must strictly follow the outlined terms. Any deviations require a formal change request submitted to the grant provider.

European grant projects often run for several years, during which unforeseen changes can occur. If these changes require a deviation from the original Grant Agreement, a formal amendment request must be submitted in Brussels. This request outlines all proposed changes, whether related to content, timelines, or budget, and must be discussed in detail with the project officer. Our Financial Consultants are here to guide and support you throughout this amendment process, ensuring everything is handled correctly and compliantly.

Your Grant Agreement outlines when and how to report on the substantive and financial progress of your project. European grant progress reports must meet strict requirements and provide detailed insights into project developments. Our Financial Consultants assist you in preparing these reports.

At the end of your project, a final report must be submitted. Similar to a progress report, but typically requiring an external audit and auditor’s statement. We guide you through this entire process to ensure full compliance.

At the end of any grant project – large or small – an auditor’s report may be required, depending on the grant scheme and funding amount. Preparing such an audit opinion is a detailed process, requiring strict adherence to the grant provider’s audit protocol. FirstBlue is well-versed in these protocols and the necessary documentation. Our Financial Consultants work closely with your accountant to ensure a smooth audit process and the final determination of your grant, allowing you to stay focused on your core activities.

Organisations such as central and local governments, public law bodies, and entities in special sectors are required to follow procurement procedures in grant projects when costs exceed certain thresholds. Even with dedicated procurement departments, the process remains complex and time-consuming—especially under grant conditions. Failure to comply may result in reduced grant funding, as procurement forms the foundation for cost eligibility.

Even if your organisation is not formally subject to procurement rules, you must still demonstrate that project costs exceeding threshold amounts are market-based, as grants require costs to be reasonable and justified. Clear, accurate, and well-documented procurement reporting is essential. Our Financial Consultants are ready to advise and support you throughout the tendering process and in proving market conformity.

Organisations may receive state aid, such as grants, that give them an economic advantage over others. To maintain fair competition within the EU’s single market, state aid is generally prohibited unless it falls under specific European exemption regulations. These legal frameworks allow governments to provide aid for certain purposes without going through lengthy approval procedures.

Non-compliance with these rules can have serious consequences for your grant project. That’s why a state aid analysis is essential before starting. Our Financial Consultants will help assess whether your project is compliant, making it fully “state aid-proof.”

The project budget is a crucial component of any grant application. It forms the foundation of the grant awarded. While budgets can often be reduced during the project’s lifetime, increases are typically not allowed, which may lead to a loss of funding. That’s why a well-structured, optimised budget is essential. Our Financial Consultants help you identify eligible cost categories and ensure your budget is aligned with the grant’s requirements and opportunities.

Our Financial Consultants offer on-site workshops and training sessions covering both the financial and substantive aspects of your grant projects. For example, at the start of a project, we ensure all involved employees are fully informed about the administrative requirements, setting your team up for smooth and compliant grant execution.

After submitting your grant project for final determination, the verification process by the grant provider begins. This may include random checks to assess the accuracy of your grant administration. Our Financial Consultants understand this process inside out. We help you prepare by reviewing your documentation and ensuring everything is in order before submission, minimising the risk of follow-up questions from the grant provider.