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A consortium is a joint venture of leading academic and industrial
entities which work together to develop generic technologies. The
European Union's research budgets allow Israeli companies and research
organizations to take part in European consortia. Since the Fifth European
Programme, Israelis can participate in consortia not only as members,
but also serve as coordinators, leading and facilitating research for the
entire consortium.
Shaham & Assoc. C.P.A (Isr.) and EurOption Ltd's expertise in finance
and administration enables these organizations to manage the complex
financial issues of European consortia with tremendous success. The firm
has specialized in managing the finances of more than 20 Israeli consortia
in 15 years. The firm's reputation and specific orientation have drawn
several European consortia to request Shaham & Assoc.’s services of
financial management and coordination, to manage professionally funds
and reports. These comprehensive services of financial management are
provided to consortia led by Migal, K.L.A. Tencor, PalBam, the Hebrew
University of Jerusalem, the Galilee Development Authority, Tadiran
Spectralink and others.
Shaham & Assoc. offers many advantages. First, it allows the
whole consortium to take full advantage of EU benefits. The firm's
thorough understanding of EU regulations and its familiarity with R&D
accountancy enables clients to receive swift and maximum support. In
most cases, organizations receive support for all eligible costs, including
overheads.
The firm's excellent organizational skills assure compliance with strict
EU accounting requirements, which necessitate that financial reports be
submitted within 45 days of the conclusion of each R&D period. Adherence
to this schedule is crucial to secure funds for continued research, and in
addition, to maintain a positive cash flow.
For example, the final settlement of accounts for the Ocsli consortium
(whose R&D period concluded in December 2005), was completed by
April 2006!(a record, considering that financial and technological reports
had to be attained from each European and Israeli consortium member,
and they had to be coordinated, consolidated and presented to the EU.
The process was closely monitored, and full support was achieved for
all R&D expenses). These records are appreciated not only by clients,
but also by the European commission authorities, who views them as
indicators of high-level professional Israeli management.
The firm removes the burden of financial management from the
Managing the f inancial
support from the European
R&D Funds
The digital age shrinks distances and stresses quality.
Accounting firm Shaham Assoc.C.P.A.(Isr.)along with
EurOption Ltd specialize in managing the varied financial
management aspects and accounting reports of over ten
European consortia! / Daniel Efrati
coordinating company, allowing the organization and the coordinator
specifically, to focus its efforts fully on research and technology. The firm
has developed professional cooperation with the EU's officers (as well as
ISERD), leading to excellent results for all consortium members.
Consortium members can be confident that reliable financial management
Shaham & Assoc. C.P.A (Isr.) and EurOption Ltd's expertise in financial management and coordination, enables
consortium coordinator to manage the complex financial issues of European consortia with tremendous success
will allow them to secure needed funding. When choosing and allocating
their resources among research projects, authorities will always prefer
consortia whose finances are properly managed.
Shaham & Assoc.’s knowledge and extensive experience are also a
valuable “asset” for individual firms seeking the support of the European
Programme. They can gain financial and accounting advice based upon
an in-depth understanding of the entire system, and countless successful
interactions and specific financial reports prepared for EU officers. The
Sixth EU Programme requires that all participating consortium members
present a complete R&D cost report and an Audit Certificate. To meet
these requirements, accounting firms that are not specialists cannot
meet easily the demands. Shaham has levered its knowledge and EU
connections to allow companies to handle these requirements easily, by
supplying ongoing accounting services that answer the specific needs
of each company.
Shaham & Assoc.’s knowledge and extensive experience are also a valuable “asset” for varied individual firms, seeking
the support of the European Programme. They can gain financial and accounting advice based upon an in-depth
understanding of the entire system, and countless successful interactions with EU officers regarding R& D cost reports
These services allow the full utilization of benefits and the acceptance
of the greatest amount of support in the shortest time, while fully obeying
the law and EU rules (hundreds of pages long). Financial trust is assured,
a crucial aspect of a company's reputation.
These services can be provided only by an accountant well-versed
in these complex fields, and therefore it's no surprise that remarkable
industrial companies and academic institutes from the first rank of Israeli
R&D leaders have chosen Shaham & Assoc. Clients include Ormat,
Tel Aviv and Ben Gurion Universities, Alvarion, Compugen, RAD
Communications, V-CON (an Emblaze subsidiary), Atena/GS-3 (an H.
Mer subsidiary) and many others.
In anticipating the Seventh Framework Programme, we expect that
many more will seek the benefit of the knowledge, experience and
expertise of the Shaham & Assoc.C.P.A Firm as well as EurOption Ltd.
This expertise will be especially value in light of program changes and
new complexities anticipated in accounting and R&D cost reporting
guidelines and eligibility.
(For further information - please contact directly - Shaham &
Assoc. C.P.A / EurOption Ltd. TEL: 03-5751122)