European and UK grant funding - proportionate due diligence is vital
There remain opportunities to secure grants from the European Union and the UK Government. There is huge demand for this funding and extensive rules and regulations apply. Are you confident that you are applying to the right bodies and that you have the systems in place to ensure compliance if successful or already running a project?
Failure to comply
Failure to comply with funding requirements can lead to a demand for partial or full repayment of the grant received and may even result in penalties.
In our experience, the most common failing is a lack of understanding of contract terms or of funders’ requirements and a failure to set up systems to ensure compliance. This is particularly the case with European Union funding where the interpretation of the regulations evolves over time.
Mazars has extensive experience in advising private and public sector organisations on applying for grants and for putting systems in place to ensure compliance with the requirements of the various grant funders.
Across Europe, we have several large framework contracts to provide support for the European Commission and European Investment Bank and have provided audit support directly to the European Commission’s own audit teams which has helped us to gain a unique insight into their interpretation of the regulations.
How we can help you
We can provide assistance with the application for grant funding. We can also assist you in putting in place robust controls and information systems capable of ensuring compliance with the grant conditions and regulations.
We can provide you with a pre-assurance service at an early stage in the project to advise on compliance matters and ensure that any potential areas which could lead to claw back of funding are resolved promptly.
We can provide you with an experienced and cost-effective grant certification service. We do so already for a large number of UK and EU funded projects.
We have experience with applications for the Regional Growth Fund (RGF). The Regional Growth Fund (RGF) is a £3.2bn fund operating across England from 2011 to 2017. It supports projects and programmes that lever private sector investment creating economic growth and sustainable employment. It aims particularly to help those areas and communities currently dependent on the public sector to make the transition to sustainable private sector-led growth and prosperity.
We can assist you in preparing an application which has the best chance of being successful. In addition we advise on the funding mix, state aid issues, due diligence and in providing grant assurance services.
We have successfully worked with organisations on RGF due diligence assignments prior to final approval from the Department for Business Innovation & Skills.
We have a dedicated team for this growing area of work and we would be delighted to meet with you without charge to discuss how you can benefit from our experience.