EU research grants and audit of royalties received
The EU has set up a fund for excellence in research and development, through which it supports a number of enterprises. The annual budget of the fund is approx. 80 billion Euros, and offers significant grants without requiring profit sharing. Israel is a member of the European research and development fund, and hence start-ups, independent research centers and Universities are able to request grants for their research projects.
Our office advises companies and organizations interested in receiving EU research grants under the various Horizon programs of the EU, including requesting the grant and assisting in negotiations, receiving the grant and reporting regarding the progress of the project. The department, headed by Gerhson (Graham) Feldman, has over 30 years’ worth of experience of assisting, advising and auditing the financial reports of such research projects. The department assists some of the larger research companies to obtain financing for their projects and is responsible for assisting projects in such fields as Hi-Tech, computing, agriculture, medicine, engineering and others. Furthermore, Gershon is an EU-appointed expert accountant to audit financial statements of companies who have received EU grants.
Services of the department
- EU research grants under FP5, FP7 andHorizon 2020, including making the grant application, negotiation of the signed deal, receipt of the grant and reports regarding the progress of the project.
- Audit certificates under FP5, FP7 andHorizon 2020 for grants and audit of royalties in Israel.
Grants and financial incentive audits in Israel
The government of Israel, via the Innovation Authority – part of the Department of Economy and Industry, assists companies involved in Research & Development in a range of industries, and provides financial grants and incentives. The financing for these companies can be highly significant for their continued existence and success. It is therefore very important to manage the request and audit process for such grants using an accountant who understands the system and is expert in the details. Our office has assisted tens of companies in these procedures of requesting,
receiving and calculating grants due, receiving funding after the initial approval, including due diligence and completing intra-originations calculations and checking them before making the application to the relevant Authority. We assist various companies with calculations the level of the grants, which is based on the sales success of the company. Additionally, we can pre-audit which includes simulations of various grant calculations, and their impact on the financial wellbeing of the company.
Services of the department
- Applications for financing from the Innovation Authority – audit of periodic expense reports to receive the grant
- Due diligence and computation of grants due
- Pre-audits, including grant computation simulations.