Session 3: Assurance Package for 2020 and Challenges with Annual Accounts
09:00
Introduction into the Assurance Package
- Regulatory framework
- What is the Assurance Package
- Requirements and obligations of involved actors
- Management declaration and annual summary (Managing Authority)
- Annual accounts (Certifying Authority)
- Audit opinion and annual control report (Audit Authority)
- Timing obligations for programming bodies and division of tasks
Stavri Ttofa
,
Head of the Verifications and Certification Directorate, Treasury of Cyprus
09:30
How to Draw up, Certify and Submit Annual Accounts to the EC: Exchange of Experiences from 2017, 2018 and 2019
- Timeline for structure of annual accounts
- Preparation, documentation and reporting requirements
- Content of annual accounts
- Which information can be added after submission to the EC
- How to treat irregularities
- Planning the activities for upcoming months
Stavri Ttofa
,
Head of the Verifications and Certification Directorate, Treasury of Cyprus
10:30
11:00
Practical Exercise on Annual Accounts
Participants will be offered to go through the template for annual accounts and discuss on concrete examples, how to fill it in.
Stavri Ttofa
,
Head of the Verifications and Certification Directorate, Treasury of Cyprus
11:30
Audit of Annual Accounts
- Regulatory framework
- Timeline for conducting audit of annual accounts
- Communication between certifying and audit authorities
- How to use results of system audits for the audit of accounts
- How to use results of audit of operations for the audit of accounts
- Final additional verifications of the draft certified accounts
- Audit opinion on the accounts
Olga Guza
,
Deputy Director of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia
12:00
Workshop
Participants will go through the check list for audit of accounts and discuss in groups the most important issues to be checked and the common errors.
Olga Guza
,
Deputy Director of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia
12:30
Session 4: Dealing with Irregularities in ESI Funds
13:30
Management of and Most Common Irregularities in ESI Funds
- Definition of an irregularity and difference between error and irregularity
- Overview on most common types of irregularities
- Who can determine irregularities?
- Which irregularities can be identified by first level controllers?
- Which irregularities are typically identified by auditors?
- How to treat irregularities?
Inese Levana
,
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia, AFCOS Member, Riga
14:15
Practical Exercises
Practical exercises on how to detect and handle irregularities. You are welcome to contribute to this session. Just send us your questions in advance and we will discuss them during the event.
Inese Levana
,
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia, AFCOS Member, Riga
Session 5: Financial Corrections
14:30
Reporting and Financial Corrections
- When do irregularities lead to recoveries, withdrawals and financial corrections?
- Rules and obligations for bodies involved
- Purpose and types of financial corrections
- Pre‐ and post‐payments
- Reporting requirements
- New rules on treatment and reporting of irrecoverable amounts
- Recoveries and withdrawal workflow
Olga Guza
,
Deputy Director of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia
15:15
15:45
Group Exercises
How to Choose the Right Type of Financial Correction and how to Calculate the Rate of Corrections.
Olga Guza
,
Deputy Director of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia
Session 6: Combating Fraud and Corruption in ESI Funds – Practical Insight
16:15
Requirements and Tools
- The anti‐fraud cycle
- KR 7: Anti-Fraud Measures
- Instruments and methods for the prevention and detection of irregularities, fraud and corruption
- How to identify red flags of fraud and corruption?
- Cyber fraud
- Capability of IT tools: The obligatory fraud risk self‐assessment tool and Arachne
Inese Levana
,
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia, AFCOS Member, Riga
17:00
Best practice
Best practice from one of the countries: cooperation between AFCOS and Audit Authority
Inese Levana
,
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia, AFCOS Member, Riga
17:15
Practical exercises
How to conduct a (fraud) risk analysis with fraud risk self‐assessment tool, and how to define effective and proportionate measures based on the outcome of that risk analysis.
Inese Levana
,
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia, AFCOS Member, Riga
17:45