Many NFP organisations receive funding that requires separate acquittal confirming the funds have been spent in accordance with the terms of the grant.
We work with our clients to determine the format of the reporting requirements, the type of assurance required and the timing of the assurance report. The responsibility for compliance with the terms of the grant is the responsibility of the client, however we regularly provide our clients with an outline of the information required for the audit of the acquittal.
Where possible the gathering of this information is incorporated into our audit procedures to ensure the acquittal process can be undertaken efficiently.
Our grant acquittal audits are undertaken in accordance with the Australian Auditing Standards and the requirements of the funding agreement. As part of the acquittal process we provide feedback in relation to opportunities for improvement.
We undertake fully electronic audits embracing advanced data interrogation techniques that enable us to use our expertise in the interpretation of variances, exceptions, and matters requiring skill and judgement.
We are proud of and value our working relationships with both management and governance bodies. They help to ensure that maximum value is provided whilst maintaining strict independence.
We would be pleased to talk to you about how our audit services can provide value to your organisation.