2 Mins
Come up with an innovative idea
There are many opportunities for both public and private sector organisations to secure large amounts of funding from both the UK and European Governments to carry out innovative projects.
Innovate UK has awarded more than £15 billion in grants since 2004, and Horizon Europe has a budget of €95.5 billion, running from 2021 – 2027.
Apply to an awarding body for funding
There are many Grant Funding bodies that you can apply to, most of which have set budgets for different sectors and industries. You can research the active competitions yourself, or there are specialist consulting services that can point you in the right direction and even help you with the application itself.
Determine whether your grant claim needs to be audited
The need to have your grant claim audited varies depending on the grant funding body and the level of expenditure: some projects will need to be audited every quarter; others only once at the end.
You should be mindful of your own audit requirements so that you can be well-prepared when the time for an audit comes.
Work on your project and track spending
The type of costs eligible for funding and the way they should be calculated also vary depending on the grant funding body. You should be aware of these conditions to ensure that you avoid any nasty surprises during the audit.
Please feel free to get in touch and we can provide guidance on what costs you are allowed to claim and correct any errors early in the process.
Have your claim audited by an independent accountant
When the time comes to submit your claim to the funding body, you will need an Independent Accountant Accountant’s Report (IAR) to go along with it.
The dedicated Grant Audit team at Henderson Loggie has a wealth of experience performing grant audits for large public sector organisations all the way to owner-managed SMEs. We can work with you to ensure that you receive the maximum amount of funding possible, in a timely and efficient manner.
Submit your claim to the grant funder
Submit your claim, along with the signed Independent Accountant’s report, before the deadline set by the grant funding body.
Then, receive payment of your funding!
Get in touch
Contact us today to discuss how our Grant Audit services can add value to your organisation. Our dedicated team is ready to assist you in ensuring compliance, maximising the impact of your grant-funded projects, and driving sustainable growth for your organisation.