Accounts

Payroll costs for own employees

Projects that receive funding may record hours worked by their own employees in the project accounts.

• The maximum hourly rate isNOK 1,100
• The hourly rate must reflect the employee’s actual salary and experience
• One full-time equivalent cannot exceed1,695 hours

Hourly rate is calculated as follows:(annual salary × 1.4) / 1,695 hours

The factor of 1.4 shall cover holiday pay, employer’s National Insurance contributions, pension and other social and indirect costs.

The hourly rate must be documented and capable of being verified.

Purchases from external suppliers

There is no upper limit for the hourly rate when purchasing external services. The price must be clearly specified in the budget.

All projects must submit a budget with the application and project accounts with the final report.

Projects approved from 01.01.2026

The project accounts must be audited by the Fund’s central audit firm. The audit procedures to be carried out, and the applicable deadlines, are set out in the project agreement.

Projects approved up to and including 31.12.2025

Different audit requirements may apply to projects approved up to and including 31 December 2025. The requirements below apply as a general rule. Please refer to the project agreement for the relevant project.

Grant allocation up to NOK 350,000There is no audit requirement.

Grant allocation from NOK 350,001 to 1,000,000The project accounts must be reviewed by a state-authorized public accountant.
Confirmation must be provided in accordance with the standard for agreed-upon procedures (ISRS 4400).

Grant allocation above NOK 1,000,000The project accounts must be audited by a state-authorized public accountant.
An auditor's report must be submitted in accordance with the standard for the audit of a single project’s financial statements (ISA 805).

Audit costsAudit costs must be covered by the project.

Find auditorYou can find a qualified auditor viaRevisorforeningen.

SeeThe guidefor project accounts and audit. for detailed requirements and examples.