Many grant schemes today require an Independent Accountant’s Report (IAR) to support claims for grant drawdown, often annually. Clive Owen LLP has extensive experience delivering grant audit services, having produced hundreds of assurance reports across schemes, including:
Expert Guidance: Our specialists provide full support throughout the grant lifecycle – from eligibility assessment and application to appraisal, due diligence, and final grant approval.
Proven Results: With extensive experience across SMEs, multinational businesses, and charities, we consistently deliver successful applications.
Flexible Delivery: Services available remotely or on-site, with a secure, encrypted portal for document sharing.
Cost-Effective & Transparent: We offer competitive pricing and ensure you avoid wasted time on ineligible projects.
For further details on some of the more common schemes we audit, please refer to the FAQs below, which cover Independent Accountant’s Reports (IARs) and other grant audit requirements. Our general grant audit FAQs can also be found below.
Frequently Asked Questions
What is a grant audit?
A grant audit provides assurance that the terms and conditions of your grant are met. This includes detailed testing of transactions, verifying invoices, payroll, employee timesheets, and contracts. The report is submitted to the awarding body according to the grant agreement.
Does my grant require an audit?
Check your grant funding agreement or offer letter – it will specify if an audit or independent accountants report is needed and whether audit fees can be included in your claim.
How long does a grant audit take?
Most audits are completed within two weeks of receiving the necessary data, though larger or complex audits may take longer.
How does the audit process work?
We can carry out audits remotely or on-site. Our secure encrypted document portal ensures your information is safe. Typical steps include:
AML & KYC checks
Engagement letter issued
Data request (claim forms, transaction listings, headcount, etc.)
Sample selection and evidence collection (invoices, contracts, payroll)
Evidence review & follow-up queries
Draft report preparation
Internal review & finalisation
Report signed by registered auditor & submitted
What about fees?
Audit fees depend on the size and complexity of your claim. Some schemes specify minimum audit coverage.
How are errors handled?
Any errors identified during the audit are highlighted and corrected before the final report is issued. If unresolved, they are noted in the report’s conclusion.
What is an Independent Accountant’s Report (IAR)?
An Independent Accountant’s Report (IAR) is a form of assurance provided by an independent accountant to confirm that grant expenditure has been incurred in line with the funder’s rules and guidance. IARs are commonly required by grant-funding bodies in place of, or in addition to, a full grant audit.
When do I need an Independent Accountant’s Report (IAR)?
You may be required to obtain an IAR where this is specified in your grant agreement or by the funding body. This is often linked to the value of the grant, the funding programme, or the stage of the claim being submitted.
What is the difference between a grant audit and an Independent Accountant’s Report (IAR)?
While both provide assurance over grant expenditure, an IAR is typically more limited in scope than a full statutory audit. An IAR focuses on agreed-upon procedures set out by the funder, whereas a grant audit may involve broader testing and reporting requirements.
Should you have any questions regarding this, don’t hesitate to get in touch with our team , who would be happy to help.
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Grant Audits: The good, the bad and the compliant
As Partner and Head of grants, I have over 12 years of experience working with grant funds of all sizes and…
