New PwC service aims to cut European Union funding losses

Called EFX – the Extranet for European Funding – it is the first in a series of extranet services for the public sector planned by the firm.

The UK has benefited to the tune of some £14bn from the three main EU structural funds (social, regional and agricultural) over the past 10 years.

However, millions of pounds have been clawed back from UK applicants during this period because of a failure to comply with funding rules.

This has prompted PricewaterhouseCoopers to set up EFX which it aims to make the key internet site for those considering applying for, or who are already administering EU funding.

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