Audit
Grant audits
Do you receive grant income? Does your grant require an audit or accountant’s report? We can help you.
Gravita delivers timely, reliable grant audit support to companies, charities and schools, backed by deep experience and the right resource to get the job done. We understand that grant audits often come with tight deadlines, especially when requirements are spotted late, so we move quickly, without compromising on quality.
Our team has completed audits for clients applying to a wide range of funders including Innovate UK, Norwegian Agency for Development Co-operation (Norad), Government Departments and Arts Council England and we know exactly what each provider expects. With the scale and specialist knowledge to handle complex claims, we make the process smooth, efficient and stress-free.
What is a grant audit?
A grant audit is an independent review of how a grant recipient has used their funding, to confirm that the costs claimed are legitimate and comply with the conditions set by the grant provider. An audit may be required by your funding body, so it is important to check the small print on the terms of your grant agreement.
The audit process typically involves reviewing the grant agreement that outlines what the funds can be spent on, selecting sample of transactions to verify and then summarising the findings in a report which provides assurance to the grant provider that the funds have been used appropriately.
Why choose Gravita?
| Specialist knowledge of grant conditions | Efficient, cost-effective process | Ongoing support |
| We know the detail funders expect and can guide you through what’s required, whether it’s a one-off report or quarterly submissions. | We handle grant audits efficiently. We’re used to working to tight timeframes and can deliver high-quality reports by qualified accountants quickly. | Once we’ve helped with your grant audit, we can also support you with other services such as R&D tax claims, financial reporting, or a statutory audit, supporting you as you grow. |
Our experience
We have delivered accountant reports and grant audits for a wide range of funding bodies, including:
- Innovate UK
- Norad
- Government Departments
- Arts Council England
- Horizon Europe
We are familiar with the compliance expectations of these and other grant-making organisations, including UKRI and its sub-bodies.
Statutory audit
If your company meets the Companies Act criteria for a statutory audit, our experts can deliver the necessary review of your accounts efficiently in line with statutory requirements. They’ll also highlight new opportunities and identify improvements to your business processes. It will add value and could also win the trust of your customers, investors and stakeholders.
Voluntary audit
When you choose to go through an audit process voluntarily, you send a strong signal to potential lenders and investors about your credibility. You’ll get the same benefits as statutory clients, but with greater value as your business strives towards growth. Plus, when your business grows to a size where an audit becomes statutory, your accounts will already be in the best possible shape.
For more information about our Audit service, click our document below.
Our process
We have a rigorous process that we ensure to follow for every grant audit, ensuring efficiency and clarity.
1. Understand the grant terms
We review the full grant agreement and guidance documents to identify key conditions, reporting requirements, materiality thresholds and allowed cost categories (e.g. salary costs, equipment, subcontracting and percentage of overheads).
2. Independent verification
As an external party, we verify whether the costs submitted meet the criteria set out in the grant terms. We will do this on a sample basis, vouching items to supporting documentation. We will assess whether each sample is in line with the grant agreement. Before we put our audit opinion or accountant’s report together, we will discuss any findings with you, giving you the opportunity to resolve any issues or provide additional support documents as required.
3. Reporting
We produce a formal accountant’s report or audit opinion which summarises our findings to be submitted to the grant provider, confirming if the claim is compliant with the grant agreement.
4. Flexible scheduling
We understand that grant audits are sometimes required at short notice, especially where recipients have only just realised an audit is needed. We can be flexible in terms of accommodating these cases while maintaining rigour.
Let’s talk about what you need and how we can help. We’ll explain the process, let you know what documents to have ready, and give you a clear idea of timings. Our team is here to make the whole process straightforward.
If you’re considering a grant audit, Gravita’s experienced team is here to support you every step of the way.
Our audit team
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What makes us different
01
We have high calibre experts. Our team has years of experience and academic backgrounds meaning you’re dealing with seasoned professionals.
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