It is envisaged that funding will be used to contract a project management consultant who will be responsible for assisting the Preparatory Commission in the implementation of this Decision; for the reporting obligations during the entire implementation period, including the final narrative report and the final financial report; for maintaining an archive of all documents related to this Decision, especially in view of possible ...[+++]verification missions; for ensuring the Union visibility in all its aspects; for ensuring that all activities involving finance, legal and procurement are in compliance with the Financial and Administrative Framework Agreement (FAFA) and for ensuring that all information, including budgetary information, is complete, accurate and provided in a timely manner.

They shall place at the disposal of the Court of Auditors all documents concerning the award and performance of contracts financed by the budget and all accounts of cash or materials, all accounting records or supporting documents, and also administrative documents relating thereto, all documents relating to revenue and expenditure, all inventories, all organisation charts of departments, which the Court of Auditors considers necessary for auditing the budgetary and financial outturn report on the basis of records or on the spot auditing and, for the same purposes, all documents and data created or stored electronically.

Accordingly, the EU has adopted several legislative acts, such as the: "Capital Requirement Directive" ( [http ...]

45. Welcomes the decision by political groups to publish their internal financial rules on Parliament's website and urges early implementation; calls on the Bureau to find an appropriate solution enabling the reports and accounts of the non-attached Members to be made available for scrutiny in a transparent manner, broadly comparable with the procedure now followed by the political groups;

For the purpose of this Regulation, "international accounting standards" shall mean International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations), subsequent amendments to those standards and related interpretations, future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB).

Specific simplifications could be envisaged, including in the context of the Financial Regulation, such as: (i) making the verification of the financial capacity of the applicant proportional to the amount of the subsidy requested; (ii) introducing a clause on the proportionality of the financial and administrative rules compared to the size of the grant and/or capacity, for example as regards reporting requirements.