The Commission has increased significantly the number of financial audits carried out by it for both FP6 and FP7 projects. Wider use is also being made of penalties and sanctions such as liquidated damages and extrapolation.This one day briefing organised by Berkley Associates and Walker Associates will look at the impact of the Commission’s audit strategy and how research projects and their advisers can successfully respond to the challenges it presents.This seminar will bring you up to-date with the latest developments. With the help of practical case studies and a group exercise, the presenters will show you how to prepare for and manage the audit process in the best possible way. The workshop will take you through all the various stages of the audit process, including:- Detailed explanation of the audit process and audit cycle- The checks that should be made prior to the audit visit- Identifying the risk areas in your project - Responding to the pre-audit questionnaires from the auditors- Managing the audit visit and responding to the draft audit report- Procedure for implementing the audit findings, including extrapolation and liquidated damages- Preventative measures to avoid the risks of a negative audit- Use of the European Ombudsman and lobbying    The briefing will be led by John Stringer, a UK Barrister and Simon Walker an experienced R&D funding professional. Both speakers have extensive knowledge of the management FP6 and FP7 projects and have over 20 years of experience in responding to audits by the Commission services.Venue: CENELEC Meeting Centre Brussels. Full details will be sent after your registration.  Fees: 330 euro (including materials, buffet/sandwich lunch and refreshments, excluding VAT which has to be charged for all delegates). Numbers are strictly limited, so you are encouraged to book early. An early bird discount of 10% is offered to those people who register by the 10th November.   For further details visit our website.Registration: Deadline 1st December, 2011.