Comprehensive Audits
FundPass offers a robust suite of audit services designed to ensure the highest levels of transparency and integrity in fund management and allocation.
Funding Application Review
- Ensuring Eligibility and Compliance
We begin with a rigorous review process that examines the eligibility of the NGO's funding application. Our team evaluates compliance with the specific requirements of European funds, the World Bank, and other funders. This includes an assessment of legal standing, mission alignment, and the capacity to deliver proposed projects. - Detailed Project Analysis
Our auditors analyze the proposed projects for feasibility, sustainability, and impact. We assess the realistic nature of timelines, budget allocations, and the project's alignment with both the NGO's capabilities and the funder’s objectives. This process includes a review of the project design, implementation strategy, and monitoring and evaluation plans. - Financial Integrity Check
The financial integrity check involves a deep dive into the NGO's budgeting and financial planning for the proposed project. We ensure that the budget is reasonable, cost-effective, and allocated in a manner that maximizes project success. We also check for any potential financial risks or issues that may hinder the project's completion.
Financial Audits
Accurate Financial Reporting
We verify the accuracy of financial reports and accounting records, ensuring that they are in accordance with international accounting standards and funder requirements. This examination covers all financial statements, including balance sheets, income statements, and cash flow statements.
Effective Internal Controls
An assessment of the NGO's internal controls is conducted to ensure that funds are safeguarded against mismanagement or fraud. We review the organization's policies and procedures for financial transactions, authorization, record-keeping, and reporting.
Grant Management and Compliance
We provide expertise in grant management and compliance, ensuring that NGOs meet the financial management requirements of their funding agreements.
Identification and Mitigation of Risks
- Risk Analysis
Our financial audits include a thorough risk analysis to identify areas where the NGO is most vulnerable to financial missteps or oversight. We consider both internal and external factors that could affect financial stability and compliance. - Strategic Risk Management
We help NGOs formulate strategic responses to identified financial risks. Our team works to develop risk management plans that outline steps to avoid, reduce, or control potential financial risks. - Continuous Monitoring
To ensure that financial risks are managed over time, we implement continuous monitoring mechanisms. This includes setting up alerts for unusual activities, regular review schedules, and procedures for addressing concerns as they arise.
