Grant Audit
Grant audits are a critical part of a funding process. They provide assurance to funders that grant funds have been used appropriately and in accordance with the conditions set out in the funding agreement.
What is a grant audit?
A grant audit is an independent review of your organisation’s financial records to confirm that the grant money has been spent in accordance with the terms and conditions of the grant. Many funders require this type of audit before releasing future payments or approving future applications.
Whether you have received a one-off grant or ongoing support, a grant audit provides peace of mind for both funders and recipients.
The nature of the audit engagement will depend on the requirements of the funding provider who will stipulate the type of assurance required. Some of providers we complete grant audits for include:
- Innovate UK
- Arts Council England
- Horizon Europe (H2020)
Benefits of a grant audit
A grant audit supports your organisation by:
- Confirming compliance with grant terms and funding body requirements
- Demonstrating transparency and financial responsibility to stakeholders
- Reducing the risk of mismanagement or ineligible spending
- Supporting future grant applications and continued funding
Our grant audit process
We tailor our approach to suit your funding terms and reporting deadlines. Our process includes:
- Initial review – Understanding the grant agreement and reporting requirements
- Expenditure verification – Reviewing spending to confirm eligibility and compliance
- Audit report – Providing a formal report to funders with our findings and, where required, recommendations
Get in touch
Contact the SMH Audit & Assurance team on info@smh.group or 01142 664 432 to learn more about our grant audit services and how we can help you.
