INSTRUMENTS FOR ASSESSMENT, AUDIT AND CONTROL OF FINANCIAL INSTRUMENTS

Abstract

The financial instruments co-financed by the European Structural and Investment Funds are a sustainable and effective way to invest in the growth and development of people and businesses in EU Member States and regions. They support a wide range of development objectives for the benefit of a wide range of recipients, with the potential for the funds to be reused for further investment. When using European Structural and Investment Funds, managing authorities may apply financial instruments. The choice of financial instruments and financial products must be determined in the preliminary assessment. In order to ensure a complete and efficient process, governing bodies and other stakeholders can refer to the life cycle of financial instruments. The audit and control methodology should take into account the specific risks associated with the application of financial instruments, which are different from those of grants.