Arqus Community of Practice on project finance management meets in Leipzig

The eighth meeting of the Arqus Community of Practice ‘Projects Finance Management Offices (PFMO)’ took place in Leipzig from 25 to 27 November 2025. The community aims to advance project finance management by sharing expertise and building collective knowledge within the European University Alliance and at individual institutions. 

The focus of this meeting was primarily on the exchange of information on financial audits and reporting requirements. Over the course of three days, participants discussed how to correctly document and explain expenses so that they meet the requirements of European Commission audits. 

The meeting emphasised the importance of developing joint strategies to identify and avoid errors in financial reports at an early stage and showcased successful practices from previous audits to encourage peer learning and standardise practices for all participating universities. 

Dr Olaf Hirschfeld, Head of Internal Auditing at Leipzig University, presented the university’s role as the primary controller of financial reports in EU projects.

‘Meetings like this offer a great opportunity to exchange ideas with finance and project managers from other European universities, identify common challenges, and learn from each other,’ said Anja Radon from Leipzig University, who organised the meeting. 

The meeting strengthened the cooperation between Arqus universities in the area of project finance and established a foundation for unifying audit standards. 

The strategies and best practices developed aim to increase transparency and efficiency in financial audits in the future. The next meeting of the PFMO working group in Graz is already being planned, with the aim of further developing the approaches established in Leipzig and continuing the exchange of experiences.

Article and photo by Steven Rupp