The purpose of the audit is to obtain a clear assessment of the project’s proposal, consistent with the contract and request for funding the project. The result of the audit shall constitute a clear grounds for ensuring that the audited entity meets eligibility criteria as to expenditures incurred by the project and whether financial documents reflect actual activities conducted by the project, requests for payment conform to provisions of contracts and are accompanied with relevant financial documents, and reports from the project meet all critical requirements of the program. The audit is conducted according to the current guidelines of the Managing Institution and universally applied International Auditing Standards.