Many of our clients are recipients of donor funding and with that comes a significant number of rules and compliance and eligibility requirements they need to be aware of. The risk of not meeting these obligations may result in reputational damage, including reduction in future grants and even the recovery of existing funding by the donor.
Many donors often require the funding recipient to engage an independent accountant or audit firm to review expenditure reports and funding claims prior to their submission. Further payments are often reliant on these initial submissions.
To meet the needs of our clients who are in receipt of donor funds we offer the following recipient audit and assurance services.
Certification of expenditure (pre-donor submissions)
Organisations receiving donor funds may require a certificate of expenditure to be undertaken for funding received. This may be needed at the end of the project or an annual basis and usually forms part of the financial report submission pack to the donor. A certificate of expenditure is usually undertaken under agreed-upon procedures and refers to the independent review and validation of the financial transactions and expenses reported by the implementing organisation. These certificates provide donors with a confirmation that reported expense are accurate, eligible in accordance with the donor’s requirements and donation contract and have been used for their intended purpose.
Certificates of expenditure provide donors with the assurance that systems and expenses are reliable and meet agreed-upon standards. They also protect the implementing organisations resources by identifying issues early and avoiding ineligible expenditure. This results in increased trust and strengthening of partnerships.
The team brings over five years of extensive experience conducting assignments on behalf of various international charities, intergovernmental organisations and other institutions that receive funding.
Independent Accountant Reports (IAR)
Our team has experience of supporting recipients of Innovate UK funded to submit Independent Accountant Reports alongside their funding claims. We can work with clients from the point at which they are awarded funding to guide them through the reporting processes, understanding the frequency of reporting required and to ensure timely and quality reports are delivered.
Agreed-upon procedures reports
Our team has extensive experience of delivering agreed-upon procedures reports under ISRS 4400 and this extends to UK donor funding as well as International funding from the European Commission.
Please contact us to discuss your requirements and we will be able to support your organisation to meet its donor obligations.
