Supply of financial audit services throughout the 36 month TIGER project validating the procurement methods and processes.
Financial Services Tender
Requirement to be a First Level Controller
The First Level Controller (FLC) is a named person within a firm. The FLC must meet two (2) requirements:
The FLC shall be a practicing certificate holder meeting the Companies Act requirements to be a company auditor. The FLC shall belong to one of the following professional bodies:
- The institute of Chartered Accountants in England and Wales
The Institute of Chartered Accountants of Scotland
The Association of Chartered Certified Accountants
The Chartered Institute of Public Finance and Accountancy
The Institute of Chartered Accountants in Ireland
The Association of Authorised Public Accountants
The Association of International Accountants
The FLC shall be completely independent from all aspects of the project management and delivery. The FLC shall not take on any new role which could compromise this independence during the life of the project.
Responsibilities of a First Level Controller
The verifications to be carried shall cover administrative, financial, technical and physical aspects of the project, as appropriate. Verifications are to ensure that:
- Expenditure declared is real;
- Products or services have been delivered in accordance with the approval project decision;
- Applications for reimbursement by the beneficiary are correct;
- Project partner and expenditure have complied with the applicable Programme, EU and national rules.
The FLC is required to provide assurance on the eligibility of the 100% of the expenditure included in each claim. The FLC can use their professional judgement how to do this but must provide assurance on the 100% of the expenditure in the claim. The verification of expenditure is therefore not similar to an audit where the prime purpose is to form an opinion on the information in the financial report taken as a whole, and not to identify all possible irregularities. The FLC can reject items of expenditure if they do not meet the eligibility requirements and use their professional judgment to apply financial corrections if some aspects of procedures, such as public procurement, have not been complied with in accordance with the guidelines provided. An important aspect of the work would be to check compliance with public procurement rules when obtaining goods and services.
Note of Interest
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