Project audit: donor-funded, grant and earmarked projects
Independent review of a project financed by a donor, a founder, a bank or the state: were the funds spent according to the budget and the agreement, are they supported by documents, were the targets met. Report in the format your donor requires: ISA 800, ISA 805, ISAE 3000 or ISRS 4400, in English and Ukrainian.
- Review of the agreement, budget and the donor’s terms of reference
- Testing of project expenditure, procurement, payroll, assets and cash
- Reconciliation of the project financial report to the ledger and bank
- Auditor’s report in the donor’s format, in two languages
- Management letter and answers to the donor’s queries after submission
The project reviews clients ask for most often
Grant project audits for non-profit organisations in Ukraine: expenditure against the budget and the agreement, documents, procurement and payroll, a report in the donor’s format. Audits of international grants from the EU, GIZ, UN agencies, embassies and foundations: grant audit for donors.
Audit of the targeted use of grants, charitable appeals and founder funds, whether initiated by the donor, the board, a consortium partner or the organisation itself before reporting. The result: a factual findings report or an auditor’s opinion, a list of deviations and what to fix.
Review of several projects of one organisation at once: allocation of costs between funding sources, timesheets, double funding, targeted financing balances. For NGOs we combine it with the annual audit of the non-profit organisation.
Audit services for grants are provided remotely across Ukraine: documents through secure file exchange, online meetings, a report in Ukrainian and English. A commercial proposal follows a review of the donor’s terms of reference.
Expenditure review against the grant budget, report in the donor’s template. Details: grant audit.
Audit with an opinion or an assurance conclusion: which standard when.
The most common format at project completion: what is included.
Verification under the EU terms of reference: EU grant audit.
For partners of UNDP, UNICEF, UNFPA, WFP: UN project audit.
Audit of the targeted use of funds: details.
Four steps, no surprises at the end
We review the grant agreement and the donor’s audit terms of reference, then send a proposal and a work plan.
Document list in the donor’s format. Secure file exchange, remote work across Ukraine.
Questions as we go, not at the end. You have time to find missing documents.
Report in English and Ukrainian. We answer the donor’s and reviewers’ queries after submission.
What documents to prepare
We send the full checklist for your assignment together with the contract. Below is what it always contains, so you can judge the effort before we even talk about the fee.
The grant agreement with all annexes, the approved budget, amendment letters and donor approvals, and the terms of reference for the audit.
The financial report to the donor for the period, earlier reports with the comments received, and a reconciliation of the report to the ledgers.
Trial balances for the project, statements for the project bank accounts, cash records, and the currency conversion rule set by the agreement.
Contracts, invoices, acceptance documents and delivery notes, payment orders and expense reports for the items in the auditor sample.
Employment and service contracts, orders, timesheets showing the split between projects, payroll registers and payroll tax filings.
Requests for quotations, the quotations received, selection minutes, and partner or sub-grantee reports with their own source documents.
Most common questions
How does a project audit differ from the annual audit of the organisation?
An annual audit confirms the organisation’s financial statements as a whole. A project audit covers only the funds and expenditure of a specific project against its budget and the agreement with the donor, in the format and under the standard the donor sets.
Which report format do we need?
It is written in the grant agreement or the donor’s terms of reference. Send us the document: within 1 business day we will tell you whether you need an audit (ISA 800 / 805), an assurance report (ISAE 3000) or agreed-upon procedures (ISRS 4400).
How long does a project audit take?
From 2 to 5 weeks after we receive the documents, depending on the budget, the number of transactions and partners. We ask questions as we go so you have time to find missing documents.
Do you work with projects outside Kyiv?
Yes. Fieldwork is done remotely through a secure file exchange across Ukraine, with an on-site visit only where the donor requires it.
Get a proposal
Describe the project, donor and deadline. We reply within 1 business day.
More in this section
Grant and donor project audit under ISRS 4400 or ISA 805, report in the donor format.
NGO auditAnnual financial statements of an NGO, non-profit status, donor requirements.
Verification of grant spendingAgreed-upon procedures under ISRS 4400: eligibility of costs, procurement, source documents.
Final project auditClosing a grant: what the auditor checks and which documents to prepare.
Audit of a membership NGOMembership fees, grants and economic activity of an NGO.
Audit of a charitable foundationCharitable and humanitarian aid, targeted use of donations.
Donor requirements for auditWhat the EU, UN, GIZ and other donors ask for and how it looks in the terms of reference.