{"id":6599,"date":"2026-04-21T10:20:44","date_gmt":"2026-04-21T08:20:44","guid":{"rendered":"https:\/\/mgi-bpo.hu\/?post_type=szakmai-hirek&p=6599"},"modified":"2026-04-21T10:43:46","modified_gmt":"2026-04-21T08:43:46","slug":"huf-92-billion-norwegian-fund-dont-just-win-the-grant-keep-it-too","status":"publish","type":"szakmai-hirek","link":"https:\/\/mgi-bpo.hu\/en\/news\/huf-92-billion-norwegian-fund-dont-just-win-the-grant-keep-it-too\/","title":{"rendered":"HUF 92 billion Norwegian Fund: Don\u2019t just win the grant\u2014keep it too!\u201d"},"content":{"rendered":"
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According to the latest news, an agreement is close to being reached: approximately HUF 92 billion<\/strong> in funding may become available to Hungary from the Norway Grants<\/strong>. The planned launch in 2026 represents a major opportunity \u2014 but from an auditor\u2019s perspective, it also entails a significant risk. Winning the grant is only the first step; the real challenge is properly accounting for it at the end of the project<\/strong>.<\/p>\n

Why Everything Is Decided at the Application Stage of a Norway Grants Project<\/h3>\n

A common mistake is that organizations only contact their auditor two weeks before submitting the final report. However, the accounting and eligibility rules of the Norway Grants are strict<\/strong>, and the foundations of compliant reporting must be laid from day zero.<\/p>\n

If the beneficiary organization does not maintain records that allow clear, factual traceability of costs<\/strong>, the funding awarded under the Norway Grants can easily turn into a repayment obligation<\/strong>.<\/p>\n

Three Questions to Ask Yourself Before Submitting a Norway Grants Application<\/h3>\n

1. Is the organization prepared for transparent, segregated project accounting?<\/strong><\/p>\n

Transparency is a core principle of the Norway Grants. Project-related costs must be recorded separately from day-to-day operations in a clear and identifiable manner. In practice, this requires project-level general ledger analytics<\/strong> and timesheets<\/strong> documenting employees\u2019 project-related activities.<\/p>\n

It is advisable to establish routines at the very beginning that ensure these documents are accurate and up to date<\/strong>.<\/p>\n

2. Does the company have appropriate internal policies and documented processes in place?<\/strong><\/p>\n

As part of the agreed-upon procedures performed in connection with the final audit, the auditor\u2019s work typically goes beyond reviewing invoices. In accordance with the donor guidelines, it also extends to the audit trail of procurement and decision-making processes<\/strong>.<\/p>\n

Do your procurement procedures comply with program requirements?
\nIs decision-making properly documented?<\/p>\n

3. Is the organization willing to consult an expert at the start of the application process?<\/strong><\/p>\n

An initial professional consultation can highlight shortcomings that may later lead to certain costs being deemed ineligible. It is important to clarify that this consultation is not an audit and does not provide assurance<\/strong> \u2014 it is an advisory discussion to assess whether your systems are prepared for the procedures required during the final audit.<\/p>\n

What Is the Auditor\u2019s Role in the Norway Grants Funding Process?<\/h3>\n

In connection with the final report under the Norway Grants, the auditor typically acts under an agreed-upon procedures engagement (ISRS 4400)<\/strong>.<\/p>\n

This means that the beneficiary and the auditor agree on performing specific procedures defined in the donor\u2019s guidelines, such as:<\/p>\n