Commission Delegated Regulation (EU) No. 532/2014 supplementing Regulation (EU) No. 223/2014 of the European Parliament and of the Council on the Fund for European Aid to the Most Deprived.

This Regulation supplements Regulation (EU) No. 223/2014 on the Fund for European Aid to the Most Deprived. These supplementing provisions concern: (a) rules specifying the information in relation to the data to be recorded and stored in computerized form within the monitoring system established by the managing authority; (b) detailed minimum requirements for the audit trail in respect of the accounting records to be maintained and the supporting documents to be held at the level of the certifying authority, managing authority, intermediate bodies and beneficiaries; (c) the scope and content of audits of operations and audits of the accounts and the methodology for the selection of the sample of operations; (d) detailed rules concerning the criteria for determining serious deficiencies in the effective functioning of management and control systems, including the main types of such deficiencies, the criteria for establishing the level of financial correction to be applied and the criteria for applying flat rates or extrapolated financial corrections.