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The Financial Guidance is a document prepared by the FMO to assist national authorities in managing finances under the EEA and Norwegian Financial Mechanisms 2021-2028 (“the Grants”). While not part of the Grants’ legal framework, it offers additional insights into the provisions of the Regulations, clarifies common questions raised during previous grant cycles, and shares best practices and practical tips for effective implementation.
The new version of the Financial Guidance is built upon the previous 2014-2021 edition, maintaining its core principles. However, certain sections have been revised to align the updated Regulations for the 2021-2028 period. The following major updates have been made: re-organisation of the structure; brand-new chapter on simplified cost options (SCOs); guidance on the key requirements for the national management and control system (MCS); guidance on the single audit and proportionality principles; elaborated rules on eligibility of expenditure.
Version 2.0