Annual audit plan for projects
Article 37
1. From the end of the first year of the joint operational programme, the Joint Managing Authority shall each year draw up an audit plan for the projects that it finances. 2. The controls referred to in paragraph 1 shall be conducted by examining the documents or conducting on-the-spot checks of a sample of projects selected by the Joint Managing Authority based on a random statistical sampling method taking account of internationally recognized audit standards, in particular having regard to risk factors related to the projects’ value, type of operations, type of beneficiary or other relevant elements. The sample shall be sufficiently representative to warrant a satisfactory level of confidence in relation to the direct controls carried out by the Joint Managing Authority on the existence, accuracy and eligibility of expenditure claimed by the projects.