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Financial and Accounting Gap Audit against the Pillar Assessment Model for Crosq... Tender

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CARICOM REGIONAL ORGANISATION FOR STANDARDS AND QUALITY (CROSQ) has floated a tender for Financial and Accounting Gap Audit against the Pillar Assessment Model for Crosq as Requesting to be Entrusted with Implementation of an EU Budgeted Project. The project location is Barbados and the tender is closing on 18 Jun 2024. The tender notice number is , while the TOT Ref Number is 102532813. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.

Procurement Summary

Country : Barbados

Summary : Financial and Accounting Gap Audit against the Pillar Assessment Model for Crosq as Requesting to be Entrusted with Implementation of an EU Budgeted Project

Deadline : 18 Jun 2024

Other Information

Notice Type : Tender

TOT Ref.No.: 102532813

Document Ref. No. :

Competition : ICB

Financier : Agency for the Cooperation of Energy Regulators (ACER)

Purchaser Ownership : Public

Tender Value : Refer Document

Purchaser's Detail

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Tender Details

Tenders are invited for Terms of Reference for a Financial and Accounting Gap Audit against the European Union (Eu) Nine - Pillar Assessment Model for Crosq as Requesting to be Entrusted with Implementation of an Eu Budgeted Project

Article 154 of the Financial Regulation (‘FR-) applicable to the general budget of the European Union (‘EU-) sets out the methods of implementing the budget, including ‘indirect management-. Under indirect management, the Commission can entrust the implementation of Union funds or budgetary guarantees to the countries, organisations and bodies (further referred to as ‘entities-) indicated in Article 62 of the FR. CROSQ is considered one of these entities

When such entities manage EU funds, they are however, required to guarantee a level of protection of the EU-s financial interests equivalent to that required under the FR. More specifically, they must meet requirements with regard to Nine ‘Pillars-. These pillars relate to:

· the internal control system ;

· the accounting system;

· an independent external audit;

as well as rules and procedures for:

· providing financing from EU funds through grants;

· procurement;

· financial instruments;

and also:

· exclusion from access to funding;

· publication of information on recipients;

· protection of personal data.

Entities such as CROSQ wishing to work with EU funds under the indirect management mode must, therefore, undergo a comprehensive Nine Pillar assessment.