PART TWOCOMMON PROVISIONS

TITLE VIIIPAYMENTS, PRESENTATION AND ACCEPTANCE OF ACCOUNTS, FINANCIAL CORRECTIONS AND RECOVERIES

CHAPTER 2 Presentation and acceptance of accounts

Article 68Presentation of accounts

1.

The accounts of the programme shall be drawn up by the Managing Authority. These accounts shall be independent and separate and shall include only transactions relating to the programme. They shall be kept in such a way as to enable analytical monitoring of the programme by priority and technical assistance.

2.

In its annual report, the Managing Authority shall, by 15 February, provide the Commission with the following financial information:

(a)

the accounts for the preceding accounting year;

(b)

a management declaration signed by the representative of the Managing Authority confirming that:

  1. (i)

    the information is properly presented, complete and accurate;

  2. (ii)

    the expenditure was used for its intended purpose;

  3. (iii)

    the control systems put in place give the necessary guarantees concerning the legality of the underlying transactions.

(c)

an annual summary of the controls carried out by the Managing Authority, including an analysis of the nature and extent of errors and weaknesses identified in systems, as well as corrective action taken or planned;

(d)

an audit opinion on the annual accounts;

(e)

an annual audit report drawn up by the Audit Authority providing a summary of audits carried out, including an analysis of the nature and extent of errors and weaknesses identified, both at system level and for projects, as well as the corrective actions taken or planned;

(f)

an estimate of costs incurred from 1 July to 31 December of the preceding year;

(g)

the list of projects closed during the accounting year.

3.

The accounts referred to in point (a) of paragraph 2 shall be submitted for each programme and shall include at the level of each priority and technical assistance:

(a)

the expenditure incurred and paid and the revenue earned and received by the Managing Authority;

(b)

the amounts waived and recovered during the accounting year, the amounts to be recovered by the end of the accounting year and the unrecoverable amounts.

4.

The audit opinion referred to in point (d) of paragraph 2 shall establish whether the accounts give a true and fair view, the related transactions are legal and regular and the control systems properly put in place function. The opinion shall also state whether the audit work puts in doubt the assertions made in the management declaration referred to in point (b) of paragraph 2.