A grant audit is a crucial and independent evaluation conducted by a certified auditor for organisations and entities that receive funding from various sources, such as governmental bodies, European agencies, and private foundations. The primary objective of this audit is to ensure that the funds received have been utilised properly and in accordance with the established guidelines.​
 

Navigating the objectives and steps of grant auditing​ 

The auditor meticulously examines the accuracy and completeness of financial statements, ensuring that all expenditures adhere to regulatory standards and the specific stipulations laid out by the grant-awarding entity. By conducting a grant audit, both the receiving organisation and the funding body reinforce transparency and foster trust in the management of public or private resources.​

Our financial audit verification includes:

• Verify existence of costs, including whether these are adequately supported, incurred in the correct period, and correctly included in accounting records; 
• Verify organisations’ controls over expenditure; 
• Verify that costs are project costs, and are foreseen in the agreed project budget; 
• Verify eligibility of expenditure with reference to contractual or programme eligibility criteria; 
• Verify existence and completeness of income, identify potential double-funding. 

Based on our findings, we can provide a list of practical recommendations aimed at strengthening grant compliance and enhancing the efficiency of your grant management processes.