Certificate on the Financial Statements (CFS) in Horizon Europe

If the EU contribution for a beneficiary reaches or exceeds a certain threshold, a Certificate on the Financial Statements (CFS) must be submitted together with the final report. The costs for a mandatory CFS are eligible and should already be planned during the proposal stage under the budget category “other goods, works and services” (C.3).

 

When is a CFS required?

A CFS is required if the total EU contribution per organisation over the entire project duration reaches or exceeds EUR 430,000.

The threshold is calculated based on the requested EU contribution, including:

  • all eligible direct costs,
  • the 25% flat rate for indirect costs, and
  • the applicable funding rate.

The assessment is carried out separately for each beneficiary and each affiliated entity (!).

As a rule, a mandatory CFS is submitted once at the end of the project. Optionally, certificates may be prepared during the project (e.g. per reporting period), but submission and reimbursement always take place with the final report.

 

What is checked?

The CFS verifies whether the declared costs:

  • comply with the eligibility criteria of the Grant Agreement (GA),
  • have been correctly calculated (including any unit costs), and
  • are supported by appropriate documentation.

Costs that have already been audited or certified previously do not need to be checked again.
 

Who may issue a CFS?

A CFS must be issued by an independent and qualified auditor. The auditor is selected by the beneficiary, in line with national requirements.

The certificate must follow the European Commission’s official template, which includes:

  • the Terms of Reference (model contract between the beneficiary/affiliated entity and the auditor), and
  • the standard audit report template.

The auditor reports any findings or irregularities in the audit report. The final decision on cost eligibility and any financial corrections remains with the European Commission.
 

Further information

Contact

BAUMGARTNER Martin

Martin BAUMGARTNER

Nationale Kontaktstelle
Horizon Europe Recht und Finanzen
+43 577 55-4008 E-Mail
MITISKA Tamara-Katharina

Tamara-Katharina MITISKA

Nationale Kontaktstelle
Horizon Europe Recht und Finanzen
+43 577 55-4009 +43 664 8 83937-39 E-Mail

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