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Auditors identify most common errors in FP7

June 21, 2012

The EC recently held an event on ‘How to Avoid Financial Errors in FP7’.

The event was the first installment in a communication campaign designed to improve the error rate when reporting financial costs on FP7 grants. The current ‘tolerable rate of error’ (TRE) expected of EC Programmes is two per cent; the EC is trying to achieve this in FP7 through the provision of guidance, simplification of funding rules, and simpler control mechanisms.

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