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Accounting and auditing instructions
- These regulations are based on DANIDA’s ”Guidelines for the administration of grant funds allocated by the Danish Ministry of Foreign Affairs to pools and networks financed under the Civil Society Framework” to which the administration of the Disability Fund by the Disabled Peoples Organizations Denmark (DPOD) applies.
- The purpose of these regulations is to elaborate on the requirements for presentation of accounts of partner organisations in receipt of subsidies under the Mini Programme Agreement and to produce a report on their use of this subsidy. These regulations do not cover the final narrative reports of projects entitled to a subsidy.
Purpose of the accounts
- The purpose of the project accounts is to account for the use of subsidies received for the project period in question.
In addition, the project accounts must show the financial situation in relation to [Danish member organisation], including an analysis of any unused funds at the end of the project period and an analysis of any added interest, which has to be sent to DPOD.
- Not later than 4 months after completion of the project the management of [Danish member organisation] is responsible for the preparation and submission of the final audited accounts for each grant and the total expenditures to DPOD for project above DKK 200,000, otherwise 2 months.
- Accounts for each grant must be submitted to DPOD in a way that the project has been approved. The specification of the expenditures shall correspond to the budget (line by line).
- Every year the management of [Danish member organisation] shall send to DPOD the annual accounts for the organisation in which the grants and the total expenditures appear.
Guidelines for accounting and administration of subsidies
- The organisation is obliged to keeping accounts of all subsidies received in accordance with sound book keeping practice (Accounting manual; Timely, precise and consecutive registrations; Frequent reconciliations of balances; Transaction trail (traceable upwards/downwards); Control trail (supporting documents); Secure filing).
- The full package of an accounting system is characterised by an organized set of manual and computerized accounting methods, procedures, and controls established to gather, record, classify, analyse, summarize, interpret, and present accurate and timely financial data for management decisions and reporting.
- The [Danish member organisation] is obliged to preparing internal guidelines so that the subsidy funds may be administered in a prudent manner and used in accordance with their purpose.
- The partner organisation must keep accounting records in accordance with the requirements outlined in the international bookkeeping guidelines. Accounting records of projects awarded subsidies must be kept for 5 years after conclusion of the project.
Accounting records must be available for inspection by [Danish member organisation], DPOD and DANIDA, or a representative appointed by these, as well as by the Danish State Auditors.
- Subsidy funds received must be deposited in a separate bank account. Funds may be transferred from this bank account whenever they are needed under the terms of the purpose of the allocated grant.
Any interest earned which derives from bank accounts will accrue to DPOD/DANIDA and must be sent to DPOD together with any unused funds.
- Subsidy funds must not be transferred to other projects.
- Should the partner organisation anticipate that the authorised grant budget will be overspent in the course of the project period, DPOD must be notified immediately. DPOD will then decide whether the budget amendments may be accepted and will inform the partner organisation in writing.
Once DPOD has accepted the budget amendments, this will appear in the accounting statement as per relevant correspondence.
- If the partner organization wants to use the budget-line “Contingencies”, DPOD should give permission in writing. The amounts used must be transferred to the relevant budget lines in annual accounts and project accounts.
- We recommend that the bookkeeping currency for the project activities is the same as the currency in which the partner organisation receives the grant.
When exchanging another currency into the bookkeeping currency, the exchange rate for the day of the transaction should be used. We recommend using an average weighted exchange rate based on all transactions from the grants currency into the currency used for payment.
- The partner organisation must keep an assets register for all investments which have been purchased for grants of the Disability Grant.
At the end of the project a transfer document has to been drawn up. All investments purchased for Disability Grants must be listed.
- The requirements for the project accounts are described in appendix 1.
- For projects which are awarded subsidies, the final accounts must be audited and endorsed with an auditor’s report and signed by a registered or chartered accountant. The purpose of the audit of the project accounts, approved by the management of the partner organisation receiving grants from the Mini Programme, is to express an opinion on the project accounts.
Partner organisations receiving subsidies under the Disability Grant Framework should refer to the audit regulations in appendix 2.
- The accountant expresses an opinion on the project accounts based on the International Audit Standard 800. See example in appendix 1.
- These instructions will be included as an annex to the agreement between DPOD and [Danish member organisation] and enter into force together with the agreement. Before signing the agreement, it is the duty of [Danish member organisation] to obtain confirmation from the appointed accountant that he/she will perform the audit of the received grant funds in compliance with the provisions of these instructions.
Auditors reporting requirements (to DPOD's auditor)
- As a part of the control of the work done by other auditors DPOD’s auditor shall receive questionnaires from the auditors of [Danish member organisation] receiving grants from the Disability Grants.
- At the time when [Danish member organisation] signs the Disability Grant agreement, the auditors of [Danish member organisation] have to sign the agreement in appendix 3 about knowing the audit requirements.
- As part of the auditing of each project accounts the auditors must fill in the audit questionnaire - Appendix 4 - and send it to DPOD’s auditor via DPOD.
DPOD’s auditor is:
Ellebjergvej 52, 2
2450 København SV
Att.: Kim Larsen
Telephone:+45 3338 9800