[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-161151-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-161151-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","terms-of-reference-certificate-on-the-financial-statement-cfs-procedure-requirements","TERMS OF REFERENCE - CERTIFICATE ON THE FINANCIAL STATEMENT (CFS) - Procedure Requirements","","The Terms of Reference define how a Certificate on the Financial Statement (CFS) must be produced for EU grants when required by the grant agreement and specific thresholds. It sets the purpose, scope, and applicable professional standards for performing agreed-upon procedures (AUP), emphasizing that the CFS is not an assurance engagement and requires detailed, evidence-based documentation of findings and affected amounts. It also specifies eligible practitioner types, independence expectations, and submission and signing obligations through the beneficiary portal.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/letters/","Letters",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/terms-of-reference-certificate-on-the-financial-statement-cfs-procedure-requirements/161151/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/terms-of-reference-certificate-on-the-financial-statement-cfs-procedure-requirements/161151.png","ImageObject",442,249,{"name":42,"@type":43},"Margaret","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-09-19","2026-08-30",true,{"@type":52,"interactionType":53,"userInteractionCount":30},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What is the purpose of the CFS in an EU grant context?","Question",{"text":62,"@type":63},"The CFS provides the EU granting authority with findings to assess whether declared costs (and relevant revenues) comply with conditions in the EU grant agreement.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"Is the CFS an audit or an assurance engagement?",{"text":67,"@type":63},"No. The CFS practitioner performs agreed-upon procedures (AUP) and does not provide an audit opinion or express assurance.",{"name":69,"@type":60,"acceptedAnswer":70},"Who may deliver the CFS and what independence requirements apply?",{"text":71,"@type":63},"A participant may choose a qualified external auditor, and the practitioner must be independent and comply with independence requirements in the IESBA Code; public bodies may use a competent independent public officer with documented independence in fact and in appearance.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},161151,1788091809,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,113,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":115,"slug":116},18,30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":114,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":30,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":79,"read_time":114},137451207643,"https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","CERTIFICATE ON THE FINANCIAL STATEMENT (CFS)\n(To be filled out by the CFS practitioner (in line with the options applicable to the project according to the Data Sheet in the EU grant agreement), printed on their own letterhead and signed (on paper). The ToR need to be signed by both the participant and the practitioner). The AUP checklist and the report need to be signed by the practitioner. The scanned PDF should be submitted by the beneficiary through the Portal (both for themselves and their affiliated entities.)\nTERMS OF REFERENCE\n1. Background and subject matter\nA certificate on the financial statements (CFS) must be provided for entities that participate as beneficiary or affiliated entities (‘participants’) in EU grants — provided that it is required under the EU grant agreement and that certain thresholds are met (see GA Data Sheet and Article 24.2 and \u0013 HYPERLINK \"https://ec.europa.eu/info/funding-tenders/opportunities/docs/2021-2027/common/guidance/aga_en.pdf\" \u0014AGA — Annotated Grant Agreement, art 24.2\u0015).\nThe purpose of the CFS is to provide the EU granting authority with findings to be able to assess whether costs that are declared on the basis of actual costs or costs according to usual cost accounting practices (if any) and, if relevant, also revenues comply with the conditions set out in the EU grant agreement.\nThe present Terms of Reference set out the procedures to be performed, define the scope and applicable standards of the CFS and who may deliver it.\n2. Scope and applicable standards\nThe CFS is a report on (factual) findings based on agreed-upon procedures (AUP).\nThe engagement is to perform agreed-upon procedures (AUPs) regarding the eligibility of the costs (and, if relevant, also revenues) declared under grant agreement [insert project number] — [insert acronym] (‘the Grant Agreement’). It is not an assurance engagement; the CFS practitioner does not provide an audit opinion, nor expresses assurance.\nThe following standards apply:\nthe International Standard on Related Services (ISRS) 4400 (revised) Agreed-upon Procedures Engagements as issued by the International Auditing and Assurance Standards Board (IAASB)\nthe International Code of Ethics for Professional Accountants (including International Independent Standards) issued by the International Ethics Standards Board for Accountants (IESBA), including the independence requirements\nthe International Standard on Quality Control 1 Quality Control for Firms that Perform Audits and Reviews of financial statements, and Other Assurance and Related Services Engagements (or equivalent).\nSupreme audit institutions applying INTOSAI-standards may carry out the procedures according to the corresponding International Standards of Supreme Audit Institutions (ISSAIs) and Code of Ethics issued by INTOSAI instead of the International Standard on Related Services (ISRS) 4400 (revised) and the Code of Ethics for Professional Accountants issued by the IAASB and the IESBA.\nThe CFS must be issued according to the highest professional standards. The practitioner must comply with the present Terms of Reference, including the agreed-upon procedures checklist and report template — without modifying them. The work must be planned in a way that the engagement can be performed effectively. The practitioner must use the evidence obtained from the procedures performed as the basis for the report. Matters which are important for the findings and evidence that the work was carried out in accordance with the Terms of Reference must be documented. The findings must be described in sufficient detail and include the affected amounts, to allow the participant and the EU granting authority to ensure appropriate follow-up.\n3. Practitioners who may deliver a certificate\nThe participant is free to choose a qualified external auditor, including its usual external auditor, provided that:\nthe auditor is independent from the participant and\nthe provisions of Directive 2006/43/EC (or similar standards","cbCaijybrMqeduKx","https://ap.wps.com/l/cbCaijybrMqeduKx","docx",178064,51,"English","# Background and subject matter\n# Scope and applicable standards\n# Practitioners who may deliver a certificate\n# Procedures to be followed and expected results","[{\"question\":\"What is the purpose of the CFS in an EU grant context?\",\"answer\":\"The CFS provides the EU granting authority with findings to assess whether declared costs (and relevant revenues) comply with conditions in the EU grant agreement.\"},{\"question\":\"Is the CFS an audit or an assurance engagement?\",\"answer\":\"No. The CFS practitioner performs agreed-upon procedures (AUP) and does not provide an audit opinion or express assurance.\"},{\"question\":\"Who may deliver the CFS and what independence requirements apply?\",\"answer\":\"A participant may choose a qualified external auditor, and the practitioner must be independent and comply with independence requirements in the IESBA Code; public bodies may use a competent independent public officer with documented independence in fact and in appearance.\"}]","TERMS OF REFERENCE - CERTIFICATE ON THE FINANCIAL STATEMENT (CFS) - Procedure Requirements | DOCX"]