Memo: Financial Regulation: What’s new for beneficiaries of EU funds?

The Commission performs a continuous assessment of the way it manages EU funds, taking into account lessons learnt from the past, feedback from end users and stakeholders, as well as the need to modernise financial rules. There is also a formal requirement to review the Financial Regulation and its Implementing Rules at least once every three years.

Furthermore, the challenge of overcoming the economic crisis includes considerations on how EU funds can be used in a simpler, more accountable, effective and efficient way.

Finally, the modifications introduced come well in time to both the beneficiaries and the funding authorities before the launch of the expenditure programmes under the next Multiannual Financial Framework 2014-2020, which is currently under discussion.