Donor Grant Audit
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Donor Grant Audit

Major donors like the World Bank, USAID and DFID, among others, require annual audit assurance that funds given in the form of grants and/or loans for specific projects in developing countries are being used for the intended purpose. They also want to know that expenditure is compliant with the underlying Grant or Loan Agreement and donor regulation applicable to, for example, procurement. There may also be concerns regarding the economy, efficency and effectiveness of the Grant or Loan managers charged with project administration.

Where audit capacity in the developing country is low Breckenhill can assist in two ways:

  • We can work with the SAI (Supreme Audit Institution) or other appointed audit agency and build its capacity to conduct the audits; or
  • We can conduct the audits on behalf of and report to the donor.

Breckenhill has conducted over one hundred such audits in, for example Afghanistan, and has developed its own audit methodology and reporting tools for conducting this type review effectively. Where appropriate, we work closely with the appointed Monitoring Agent. Our aim is to provide the necessary assurance to the donor and assist the project managers to operate efficiently and effectively by issuing constructive management letters with sensible recommendations that take account of the project environment and local capacity.

All of our donor audit team have extensive international experience, are professionall certified accountants and auditors and are well versed in the applicable professional international standards for financial statement disclosure and the regulations and requirements specfic to each major donor.