The purpose of financial reporting is to provide the Danish organisation with insight into the progress of the project and to ensure that expenditure remains within the approved framework. Through financial reports, actual expenditures are compared with the approved budget, and it is essential that any significant deviations are explained and commented on.
The local partner is responsible for sharing financial reports with the Danish organisation at least three times per year. These reports form the basis for joint follow-up and any necessary budget adjustments. At the conclusion of the project, the Danish organisation consolidates all information into a final report and an audited financial statement, which is submitted to CISU in accordance with the deadlines stipulated in the contract.
