Audit of grants, projects and non-profit organisations
Grant audit in the format your donor accepts
We verify project expenditure against the budget and the grant agreement and issue a report under the standard the donor cites: ISA 800, ISA 805, ISAE 3000 or ISRS 4400. Report in English and Ukrainian, remote work across Ukraine.
A full member of DFK International - Report standards
- ISA 800, ISA 805, ISAE 3000, ISRS 4400
- Typical timeline
- 2-4 weeks for a grant audit
- Report languages
- English and Ukrainian
- Register and association
- APOB No. 4624, member of DFK International
What exactly we verify
Expenditure against the agreement budget
Each budget line is compared with the approved budget and the donor’s eligibility rules. Variances are explained together with you.
Source documents and procurement
Contracts, acts, invoices, payments, procurement procedures under the donor’s rules. Sample or full check, as the terms of reference require.
Currency transactions and rates
Conversion of expenses into the reporting currency by the method set in the agreement, exchange differences, balances on project accounts.
Partner reports and sub-grants
Verification of partner and sub-grantee expenditure, reconciliation of their reports with the consolidated project report.
Non-profit status
For NGOs and foundations: whether activities and reporting meet the Tax Code requirements for non-profit organisations.
Internal control
Segregation of duties, payment approval, accounting policy. Observations go into the management letter.
Report formats we issue
- ISA 800
Audit of a project financial report prepared under the donor’s rules. Report with an auditor’s opinion.
- ISA 805
Audit of a single statement or element, for example an expenditure report for one project component.
- ISAE 3000
Assurance engagement on information other than financial statements: expenditure verification, compliance with the agreement.
- ISRS 4400
Agreed-upon procedures: the donor sets the list of procedures, we perform them and report factual findings without an opinion.
Who needs a grant audit
NGOs
Annual audit and project audits for the donor, a report for the board
Charitable foundations
Donations, humanitarian aid, reports to international foundations
Partners in international projects
Partner expenditure in a consortium, verification for the lead applicant
Sub-grantees
A report for the grant-maker in the form it requires
How a grant audit runs
We read the agreement and the terms of reference
We identify the report format, sample size and timeline, and send a proposal within one business day.
Engagement letter and document checklist
A document list tailored to your project, access to a secure file exchange, a work schedule.
Fieldwork
Expenditure, source documents, partners, currency. Questions as we go so you have time to provide documents.
Report and post-submission support
Report in English and Ukrainian, management letter. We answer the donor’s queries together with you.
MK Audit: a full member of the international association DFK International
DFK International is a global alliance of accounting firms and their expert teams, working closely together across over 430 offices in over 90 countries and territories. Each member firm, independently owned and managed, meets the DFK standard of excellence. For a donor or a foreign parent company this means an auditor working to the standards of an international association, with English-language reports read in any country.
An independent Member Firm of DFK International, a global alliance of accounting firms and their expert teams.
About DFK International- member firms
- 200+
- offices worldwide
- 430+
- countries and territories
- 90+
DFK International figures, February 2025
Frequent questions about grant audits
Is a grant audit mandatory for the donor?
It depends on the donor and the amount. Usually from EUR 100-300 thousand the donor requires an audit or an ISRS 4400 report. We will check your agreement free of charge.
What do we need to prepare?
The grant agreement with the budget, the project financial report, bank statements for project accounts, source documents, partner reports. The exact checklist follows the engagement letter.
How much does a grant audit cost?
We prepare a proposal after reviewing the assignment: the donor agreement, the budget and the volume of documents. Reply within one business day.
Do you issue the report in English?
Yes, in two languages, in the format the donor accepts. If needed, we answer the donor’s queries after submission.
Detailed pages by topic
In-depth material on the firm’s current website.
- Grant audit for EU-funded projects
- ISRS 4400 agreed-upon procedures in Ukraine
- Audit of UN-funded projects and HACT
- Grant and donor project audit
- Audit of a non-profit organisation
- Verification of grant spending
- HACT micro-assessment of a partner
- Humanitarian aid audit
- Donor requirements for audits
- What drives the cost of an audit
Send us the donor’s terms of reference
Within one business day we will tell you which report format is required and how long it will take. Proposal after reviewing your assignment.
Ukrainian register of auditors and audit entities, No. 4624. An independent Member Firm of DFK International, a global alliance of accounting firms and their expert teams.
or directly +38 (050) 671-55-67, Telegram