A grant audit is an independent review of a project's accounts, undertaken to gain assurance on how funding is being used by the recipient.
The audit, often required as a condition for receiving the grant funding, helps ensure that the terms and conditions of the grant agreement have been fully met. Most funding bodies require the audit to be carried out at the end of the project, although some require an audit when pre-set expenditure thresholds are reached.
All grant audits are different and each one is developed to meet the requirements set out by the funding body. Whatever the requirements, Warrener Stewart can help. As registered auditors we provide grant assurance services to both grant providers, and clients receiving grant funding. As part of our thorough grant audit process, we will:
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Check whether goals of the grant agreement and expectations of the funding body have been met
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Prepare a report showing whether the expenditure conforms to the grant agreement
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Provide insights into the outcomes and value of the funded activities
Who we work with
With offices in Fulham (London) and Edinburgh, we conduct grant audits predominantly for organisations in South West London, the Southern Home Counties, and Edinburgh.
We have conducted grant audits reviews for many different sectors and funding bodies including:
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Limited companies
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Limited liability partnerships
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Sole traders and partnerships
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Professional bodies
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Multi-site set ups with regional branches
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UK subsidiaries of European organisations
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Charities