The new Omnibus Regulation for European fundsJuly 19, 2018
Hat: The new Omnibus Regulation for European funds
Funding Scheme: 2018-07-19
Pgm2014 2020: Yes
The European Council adopted this week the so-called Omnibus Regulation which revises the EU’s financial rules to make them simpler and more results-oriented.
The existing Financial Regulation will be amended together with a number of acts governing EU multi-annual programmes in different areas, including cohesion policy. This innovation will simplify the process for the beneficiaries, in particular, small beneficiaries.
One of the objectives of the changes is to broaden the use of simplified cost options and to focus on results rather than on determining actual costs incurred. In order to avoid multiple controls, the EU will be able to rely more on evaluations and audits already carried out and authorisations already granted by other donors such as the UN and the World Bank, or the Member States. It will also become easier to combine funding sources.
Url description: Press room - European Parliament