Do grants have to be audited?
Both at the State level, as well as by some Autonomous Communities and Municipalities, grants or loans are granted for certain activities of interest to their area of influence and that need to be audited by an auditor of accounts registered in the ROAC such as
AUDITTA GLOBAL WORLDWIDE.
To properly justify compliance with the conditions assigned for the grant, as stipulated in the General Law on Grants, supporting documents of the expenditure must be adequately documented and certified by providing a report by a professional auditor of accounts registered with the ROAC
(Official Register of Auditors of Accounts).
The auditor shall review the supporting documents in accordance with the criteria established by the grant, and in accordance with the rules established by the relevant body issuing the grant.
That is why the intervention of a professional auditor is necessary to justify the expenditure on a grant, since in addition to the above, as indicated in
Article 74 of the same General Law on Grants, they may provide for a reduction in the information provided in the economic memory when the Justifying Account is accompanied by a report of an auditor duly registered in the ROAC (Official Register of Auditors of Accounts) and authorized by the ICAC (Institute of Accounting and Auditing of Accounts).
CDTI AUDITS (Center for Industrial Technological Development.
The CDTI-E.P.E. is a Public Business Entity, under the Ministry of Science and Innovation, which promotes innovation and technological development of Spanish companies. It is the entity that channels requests for help and support to the R&D projects of Spanish companies at national and international levels. Thus, the objective of the CDTI is to contribute to the technological improvement of Spanish companies through grants or partially reimbursable grants to R&D projects developed by companies.
Partially Refundable R&D Support Programs:
Partially Refundable Innovation Support Programs:
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Innovation Line
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Expansion Line
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FEMP projects
R&D grants:
New Business Grants:
Third-party R&D programs
In addition to the aid it grants, the CDTI acts as a facilitator for Spanish entities that want to access the aid of international technological cooperation programs such as the European Union R&D framework Program or in technological tenders for space programs or large scientific facilities.
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European Union R&D&I Framework Program.
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Bidding of large scientific facilities.
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European Space Agency (ESA)
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Space programs.
CDTI GRANTS - NEOTEC PROGRAM
The NEOTEC project aims to encourage the creation and consolidation of new technology-based companies (EBTs) in our country. This type of company is characterized by concentrating their activity on the exploitation of products or services that require the use of technologies or knowledge that are developed from research, highlighting the mastery of scientific and technical knowledge. Thus, technology and its development is, for this type of company, the most relevant and differentiating element of its activity.
The aid granted through the NEOTEC project is therefore for technology-based companies and is integrated within the aid scheme for young and innovative companies. In addition, it is required, in accordance with Community legislation, that the costs in research and development of the beneficiary represent a minimum of 10% (call 2018 subject to the 2017-2020 plan) of its operating costs for at least one of the three years prior to the grant of the aid or, in the case of a new undertaking with no financial history, according to the audit of the current tax year , in accordance with the certification of an external auditor to be provided in each case.
All of these grants require an audit report of accounts justifying expenses incurred and reported in the economic report for the grant to be certified by an account auditor registered with the ROAC.
At AUDITTA GLOBAL WORLDWIDE
we have extensive experience in grant reporting.
