Important information for grant recipients: Updated accounting and auditing requirements from January 2025

Under the Fund’s current guidelines, all projects in receipt of a grant, regardless of the amount, must submit a written final report and financial statement describing the use of the Fund’s support no later than three months after the conclusion of the project. In addition, grants of over DKK 200,000 have been subject to an external audit requirement.  

Starting next year, these requirements will be adjusted.

This includes financial reporting for recipients of grants of up to and including DKK 75,000, who from now on will be required to submit a solemn declaration instead of project accounts at the conclusion of the project. In addition, only grants greater than DKK 300,000 will in future require auditing by an external auditor.

The adjustments have been made in order to accommodate the applicants’ perspective and to better reflect the size of the allocations and the ways of working in the field of the arts and culture.  

Alteration of accounting requirements for grants up to and including DKK 75,000

As of January 2025, only recipients of grants in excess of DKK 75,000 will be required to submit an actual financial statement in connection with the final reporting.  

Projects that have received DKK 75,000 or less must instead submit a solemn declaration that the grant has been used for the purpose described in the application, and in accordance with the Nordic Culture Fund’s conditions for grant recipients.  

All projects, regardless of the grant amount, must continue to submit a written final report. 

A template for the solemn declaration is available here   

Auditing requirement will in future apply only to grants greater than DKK 300,000 

In line with the update of the guidelines, the requirements towards the submission of an auditor’s statement have also been altered. In future, only grants in excess of DKK 300,000 will be required to be audited and certified by a registered or authorised auditor. 

Grants up to and including DKK 300,000 will be exempt from the external auditing requirement.  

Please note that the Fund will continue to select a number of projects for random checks every year. This will apply irrespective of the new final reporting requirements.  

Is your project covered by the new requirements?

The new guidelines apply to all projects which, as of today’s date, have a final report deadline in January 2025 or later. If you will be reporting on your project prior to the end of 2024, you must continue to follow the Fund’s existing guidelines, which can be found here.

If you wish to postpone the final reporting deadline on your project beyond 2024, the existing guidelines will continue to apply to your project.