Audit of subsidy drawing

 

We conduct an audit of drawing and final accounting of subsidies in line with requirements set for subsidy beneficiaries drawing subsidies from European or other funds or receiving grants from government ministries.

Usual procedures for verification especially include an inspection of:

  • whether the final beneficiary of a subsidy uses public funds only to cover eligible  expenditure in accordance with the decision to provide the subsidy, its conditions, and the approved project
  • the credibility and accuracy of accounting documents,
  • the management of the project in accounting records,
  • the match between expenditure and the budget and its reporting in interim monitoring reports,
  • whether relevant income for the project is correctly reported in interim monitoring reports, and
  • the fulfilment of other requirements in the conditions attached to the decision to provide a subsidy

For larger projects we think it appropriate to start working together as soon as possible, so that we can check settings for monitoring eligible expenditure, and thus prevent problems later on. So turn to us if an audit is required for your subsidy. We will be happy to discuss the appropriate procedures with you.

Want to know more? Contact us.