Common use of Costs must be identifiable and verifiable Clause in Contracts

Costs must be identifiable and verifiable. All declared costs must be identifiable and verifiable, i.e. supported by persuasive evidence allowing for a sufficient audit trail. The sufficiency and the persuasiveness of the evidence provided, as well as the audit trail, will be assessed against the International Standards on Auditing. Capitalised costs claimed as depreciation costs must be supported by: − proper registration in the assets’ register − evidence of actual use for the action, e.g. through time registration − adequate calculation of potential use (total productive time) − adequate calculation of the useful economic life of the asset − evidence that depreciation is calculated in line with the beneficiary’s usual accounting principles and the applicable accounting standards.

Costs must be identifiable and verifiable. All declared costs must be identifiable and verifiable, i.e. supported by persuasive evidence allowing for a sufficient audit trail. The sufficiency and the persuasiveness of the evidence provided, as well as the audit trail, will be assessed against the International Standards on Auditing. Capitalised costs claimed as depreciation costs must be supported by: − proper registration in the assets’ register register; − evidence of actual use for the action, e.g. through time registration registration; − adequate calculation of potential use (total productive time) ); − adequate calculation of the useful economic life of the asset asset; − evidence that depreciation is calculated in line with the beneficiary’s usual accounting principles and the applicable accounting standards.