The Regional Social and Economic Development Programme had an overall objective to contribute to the economic and social cohesion of all population groups in Serbia through promoting regional economic development. The Programme is implemented through a series of projects funded by the Regional Socio-Economic Development Fund. Until now the Fund has supported 58 projects which aim to increase the economic development capacity in the regions and support vulnerable groups to enter into social and economic activity. Until now the Fund has disbursed more than Euro 5 million.

The objective of this assignment was to ensure that all projects financed by the Socio-Economic Development Fund for Serbia, funded by the EU, were completed to recognised standards, namely International Accounting Standards and International Standards on Auditing and additionally were compliant with the rules of the donor in terms of selection of the auditors and the operation of the auditing procedures. 

The main project tasks were:

• To conduct due diligence on all selected projects on the selection of auditors by grant beneficiaries
• Prepare verification reports on audits, audit procedures, and audit reports on selected projects to assess compliance with international standards and with the donor procedures as set out in the contract for auditing of successful grant beneficiaries

Assess and report on the level of competency of the audits and procedures and make recommendations for the future

Services were provided in auditing and accountancy, including:

• Financial systems audit;
• Assessment of compliance with international accounting standa