Subsidy and Other Assurance Engagements
Ideally, we prefer to discuss the conditions and requirements before submitting a subsidy application. However, we can also assist clients with their subsidy settlements after the fact.
Assurance on Subsidies
There are various types of subsidies and opportunities for receiving financial support, both for commercial enterprises and non-profit organizations.
These subsidies are often granted with specific conditions, which may require a control or review report to be issued during the settlement process. By providing such a report, the subsidy provider obtains greater assurance that the funds have been properly utilized. Compliance with expenditure regulations is often a critical aspect of these conditions.
Performing a control or review engagement for a subsidy settlement requires expertise and specialization. The Audit Company has served many non-profit organizations from the beginning, allowing us to accumulate extensive experience in a wide range of subsidy-related engagements. This is crucial because subsidy conditions are not always clear from the outset. By taking an active role and, if necessary, engaging with subsidy providers, we have successfully assisted numerous clients in the past. While we have often provided support after the fact, we advise involving us at an early stage of the subsidy application process to ensure that we can verify compliance with all conditions.
We are also ready to assist if your current accountant lacks the knowledge or capacity to handle subsidy settlements. In recent years, we have helped many businesses with their subsidy settlements under programs like the NOW (Temporary Emergency Bridging Measure for Sustained Employment).
Other Assurance Engagements and Review Reports
In addition to control or review reports for financial statements or subsidy settlements, there are various other (financial) statements that require a certain level of assurance. Examples include control reports on project revenues, sickness absence reports, summarized financial information, or review reports on insured values or (consolidated) interim financial statements.
We are well-equipped to assist with these engagements. While our primary focus is on assurance engagements, our service offerings within this domain are extensive.