This rule should be spelled out according to the type of management (direct or indirect centralised management and shared management). It does not apply to joint management since in such cases the Community funds are merged with the funds of the international organisation. Where pre-financing which remains the property of the Communities yields interest, this interest should be paid to the budget as miscellaneous revenue.
The Commission shall implement the budget:
(a) on a centralised basis;
(b) by shared or decentralised management; or
(c) by joint management with international organisations.
... Where the Commission implements the budget by joint management, certain implementation tasks shall be entrusted to international organisations as specified in the implementing rules. These organisations shall, in their accounting, audit, control and procurement procedures, apply standards which offer guarantees equivalent to internationally accepted standards.
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