What if a partner does not have audit rep or t because they are not listed in the stock exchange? Will fiscal statement be sufficient?
In the application audit rep or t is requested from the lead applicant. In the possible subsequent contract with EAEF there is only one audit or ,who should check the eligible project costs. Q: Is there a limit of how much of the total work can be subcontracted? A: There is no exact limit of how much of the total work which can be subcontracted. However in Annex II “General Conditions” article 1.3 it is stated the Beneficiary “may subcontract a limited portion of the Action (works and services). The bulk of the Action must however, be undertaken by the Beneficiary and, where applicable, his partners.” (See below) Q: Does the identity of the subcontractor have to appear in the project proposal? A: In the Guidelines Para 2.1.2 “Partnerships and eligibility of partners” it is stated that: “Subcontractors are neither partners nor associates, and are subject to the rules set out in Annex IV to the standard contract”. This means that subcontractors do not have to be included in the proposal
Related Questions
- What if a partner does not have audit rep or t because they are not listed in the stock exchange? Will fiscal statement be sufficient?
- Does the five year rotation of the lead audit partner apply to the period prior to the effective date of the Act?
- Do the Audit Partner Rotation Requirements Apply to Small Accounting Firms?
