{"id":619240,"date":"2025-02-09T20:30:57","date_gmt":"2025-02-09T18:30:57","guid":{"rendered":"https:\/\/eba.com.ua\/?p=619240"},"modified":"2025-02-09T20:39:18","modified_gmt":"2025-02-09T18:39:18","slug":"bdo-v-ukrayini-nadaye-novu-poslugu-audyt-zvitnosti-za-grantovymy-proyektamy-ta-inshi-poslugy-shho-pov-yazani-z-perevirkoyu-i-monitoryngom-grantovyh-koshtiv","status":"publish","type":"post","link":"https:\/\/eba.com.ua\/en\/bdo-v-ukrayini-nadaye-novu-poslugu-audyt-zvitnosti-za-grantovymy-proyektamy-ta-inshi-poslugy-shho-pov-yazani-z-perevirkoyu-i-monitoryngom-grantovyh-koshtiv\/","title":{"rendered":"[:ua]BDO \u0432 \u0423\u043a\u0440\u0430\u0457\u043d\u0456 \u043d\u0430\u0434\u0430\u0454 \u043d\u043e\u0432\u0443 \u043f\u043e\u0441\u043b\u0443\u0433\u0443. \u0410\u0443\u0434\u0438\u0442 \u0437\u0432\u0456\u0442\u043d\u043e\u0441\u0442\u0456 \u0437\u0430 \u0433\u0440\u0430\u043d\u0442\u043e\u0432\u0438\u043c\u0438 \u043f\u0440\u043e\u0454\u043a\u0442\u0430\u043c\u0438 \u0442\u0430 \u0456\u043d\u0448\u0456 \u043f\u043e\u0441\u043b\u0443\u0433\u0438, \u0449\u043e \u043f\u043e\u0432\u2019\u044f\u0437\u0430\u043d\u0456 \u0437 \u043f\u0435\u0440\u0435\u0432\u0456\u0440\u043a\u043e\u044e \u0456 \u043c\u043e\u043d\u0456\u0442\u043e\u0440\u0438\u043d\u0433\u043e\u043c \u0433\u0440\u0430\u043d\u0442\u043e\u0432\u0438\u0445 \u043a\u043e\u0448\u0442\u0456\u0432[:en]BDO in Ukraine provides a new service. Audit of Grant Project Reporting and Other Services related to the Verification and Monitoring of Grant Funds[:]"},"content":{"rendered":"<p><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-619202\" src=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-300x158.jpg\" alt=\"\" width=\"600\" height=\"315\" srcset=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-300x158.jpg 300w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-1024x538.jpg 1024w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-768x403.jpg 768w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-650x341.jpg 650w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya.jpg 1200w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-800x420.jpg 800w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-170x90.jpg 170w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/insajt-sotsmerezhi-4-kopiya-100x53.jpg 100w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<p style=\"font-weight: 400;\">Since the outbreak of full-scale war, the humanitarian and economic situation in Ukraine has deteriorated significantly. This has resulted in an increase in the number of internally displaced persons, damage to critical infrastructure, and other severe consequences for the population.<\/p>\n<p style=\"font-weight: 400;\">In response to these challenges, Ukraine\u2019s international partners and donor organizations have increased the amount of assistance provided through various grant programs. This surge in grant funding has given rise to new challenges related to the effective fund management and ensuring their designated use. Consequently, issues such as reporting, transparency, and monitoring have become paramount.<\/p>\n<p style=\"font-weight: 400;\">The majority of donors, especially those from international organizations, require independent oversight of grant program funds. This practice is considered a standard form of reporting. Donors require this assurance to confirm that funds are utilized exclusively for the designated purposes outlined in the grant agreement.<\/p>\n<p style=\"font-weight: 400;\"><strong>One of the key tools for ensuring such control is an <\/strong><a href=\"https:\/\/www.bdo.ua\/en-gb\/services-1\/audit-en\/audit-services-en\"><strong>audit<\/strong><\/a> <strong>that our company can conduct in accordance with the requirements of donors. <\/strong><a href=\"https:\/\/www.bdo.ua\/en-gb\/services-1\/audit-en\/audit-of-grant-project-reporting\"><strong>Audit procedures include verifying compliance with the grant terms, analyzing financial documentation, and evaluating the use of funds.<\/strong><\/a><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-619247\" src=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-300x300.png\" alt=\"\" width=\"400\" height=\"402\" srcset=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-150x150.png 150w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-270x270.png 270w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-130x130.png 130w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-94x94.png 94w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-170x170.png 170w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-120x120.png 120w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-100x100.png 100w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-90x90.png 90w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025-80x80.png 80w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_4_09022025.png 597w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<p style=\"font-weight: 400; text-align: center;\"><em>Verifying compliance with the grant terms<\/em><\/p>\n<p style=\"font-weight: 400; text-align: center;\">Analyzing financial documentation \/ Evaluating the use of funds<\/p>\n<p style=\"font-weight: 400;\">Reports of BDO in Ukraine as an independent auditor are accepted by most international donors, reflecting a high level of confidence in our services and offering extra assurances for both donors and project implementers.<\/p>\n<p style=\"font-weight: 400;\">We take pride in our expertise and stand ready to assist our clients in ensuring transparency and adherence to donor requirements during the implementation of grant projects.<\/p>\n<p style=\"font-weight: 400;\"><strong>We have experience working with projects funded by:<\/strong><\/p>\n<ul>\n<li><strong>World Bank<\/strong><\/li>\n<li><strong>European Investment Bank<\/strong><\/li>\n<li><strong>European Bank for Reconstruction and Development (EBRD)<\/strong><\/li>\n<li><strong>German Federal Foreign Office<\/strong><\/li>\n<li><strong>Arbeitsgemeinschaft Deutscher Hilfsorganisationen<\/strong><\/li>\n<li><strong>Minist\u00e8re des Affaires \u00e9trang\u00e8res et europ\u00e9ennes<\/strong><\/li>\n<li><strong>Danish International Development Agency<\/strong><\/li>\n<li><strong>International Committee of the Red Cross<\/strong><\/li>\n<li><strong>And many more<\/strong><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">The list of services may include audit procedures conducted in accordance with the following standards, depending on the donor\u2019s requirements and the specifics of the grant project:<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-619248 size-full\" src=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025.png\" alt=\"\" width=\"1004\" height=\"502\" srcset=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025.png 1004w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025-300x150.png 300w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025-768x384.png 768w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025-650x325.png 650w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025-800x400.png 800w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_5_09022025-100x50.png 100w\" sizes=\"(max-width: 1004px) 100vw, 1004px\" \/><\/p>\n<p style=\"font-weight: 400;\">Audit in accordance with ISA \/ Other assurance services \/ Review services \/ Services of agreed-upon procedures<\/p>\n<ul>\n<li>Audits in accordance with International Standards on Auditing (ISA 800\/805)<\/li>\n<li>Other assurance services (ISAE 3000)<\/li>\n<li>Review services (ISRE 2400)<\/li>\n<li>Services of agreed-upon procedures (ISRS 4400)<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">Additionally, other standards may be applied to services of this nature.<\/p>\n<p style=\"font-weight: 400;\">An audit or other service performed in accordance with the donor\u2019s requirements and the selected audit standard is a comprehensive process aimed at ensuring the transparency and reliability of grant reporting.<\/p>\n<p style=\"font-weight: 400;\">This process generally includes review of source documents, interviews, site visits, analysis of internal controls, cost allocation and timekeeping, and other procedures to ensure that the reporting meets donor requirements.<\/p>\n<p><strong>Audit of BDO in Ukraine focuses on three aspects:<\/strong><\/p>\n<p style=\"font-weight: 400;\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-619249 aligncenter\" src=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_6_09022025-231x300.png\" alt=\"\" width=\"309\" height=\"400\" srcset=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_6_09022025-231x300.png 231w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_6_09022025-62x80.png 62w, https:\/\/eba.com.ua\/wp-content\/uploads\/2025\/02\/BDO_6_09022025.png 435w\" sizes=\"(max-width: 309px) 100vw, 309px\" \/><\/p>\n<p style=\"font-weight: 400; text-align: center;\"><em>Financial audit<\/em><\/p>\n<p style=\"font-weight: 400; text-align: center;\">Performance audit \/ compliance audit<\/p>\n<p><strong>1) Financial audit <\/strong>is a review of financial statements to ensure that they meet the donor\u2019s requirements or the terms of the grant agreement. A financial audit generally includes the following:<\/p>\n<ul>\n<li><strong>Verification of the correctness and accuracy <\/strong>of expenditures recorded, as well as their correspondence to budget items, by reviewing source documents and conducting site visits to partners.<\/li>\n<li><strong>Analysis of disclosures <\/strong>in the reporting generally disclosed in the Narrative report, if required by the donor, for their correctness, relevance, and accuracy.<\/li>\n<li><strong>Certifying <\/strong>that transactions have been executed and that the reported project results align with the actual situation.<\/li>\n<li><strong>Verifying the allocation <\/strong>of costs between projects as it relates to cost sharing in the reporting.<\/li>\n<li>Obtaining evidence that a rigorous <strong>timekeeping <\/strong>system is in place.<\/li>\n<li>Reviewing the effectiveness of control procedures that ensure proper <strong>segregation of duties and protection of the partner\u2019s assets.<\/strong><\/li>\n<li><strong>Analysis of the partner\u2019s IT systems <\/strong>to assess their suitability for reporting purposes.<\/li>\n<li><strong>Other aspects <\/strong>of the review related to the accuracy, completeness, and compliance of the reporting with the donor\u2019s requirements or the grant agreement.<\/li>\n<\/ul>\n<p><strong>2) Performance audit<\/strong> refers to the assessment of the economy, efficiency and effectiveness (3E) of the use of project funds and covers:<\/p>\n<ul>\n<li><strong>Economy audit, <\/strong>which analyzes administrative activities from the standpoint of the rational use of resources in accordance with well-grounded principles, leading practices and management policies. Including limited reviews of the prices applied.<\/li>\n<li><strong>Efficiency audit, <\/strong>which focuses on assessing the use of human, financial and other allocated resources, including an analysis of monitoring mechanisms, information systems and procedures used by the partners to address identified issues and ensure proper governance.<\/li>\n<li><strong>Effectiveness audit, <\/strong>which determines the extent to which the partner has achieved the set goals, and compares the actual impact of activities with the expected result defined at the project planning stage.<\/li>\n<\/ul>\n<p><strong>3) Compliance audit<\/strong> refers to the verification of compliance with applicable laws, internal policies and regulations and covers:<\/p>\n<ul>\n<li><strong>Verification of <\/strong>the partner\u2019s<strong> compliance <\/strong>with the organization\u2019s internal policies, procedures and instructions, as well as the policies and requirements set forth in the grantor\u2019s governing documents, including the Procurement Rules and other procedures, for compliance with the stated policies.<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">These procedures provide reasonable assurance that the project financial statements are, in all material respects, consistent with or prepared in accordance with the funding agreement or other donor requirements.<\/p>\n<p style=\"font-weight: 400;\"><a href=\"https:\/\/www.bdo.ua\/en-gb\/home-1?utm_source=eba&amp;utm_medium=chamber\">BDO in Ukraine<\/a> and our professionals adhere to high standards of independence in accordance with the International Ethics Standards Board for Accountants\u2019 Code of Ethics for Professional Accountants (IESBA Code) and other ethical standards applicable in Ukraine and internationally.<\/p>\n<p style=\"font-weight: 400;\">We provide high quality audit services for donors and partners, providing comprehensive support and professional approach. Our team of experienced auditors uses the latest methodologies and cutting-edge technologies to ensure the accuracy and reliability of financial statements.<\/p>\n<p style=\"font-weight: 400;\">Please, <a href=\"https:\/\/www.bdo.ua\/en-gb\/contact-us?utm_source=eba&amp;utm_medium=chamber\">contact us<\/a> for a comprehensive consultancy and our experts will help you determine the best audit and advisory services for your needs.<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Since the outbreak of full-scale war, the humanitarian and economic situation in Ukraine has deteriorated significantly. This has resulted in an increase in the number of internally displaced persons, damage to critical infrastructure, and other severe consequences for the population. In response to these challenges, Ukraine\u2019s international partners and donor organizations have increased the amount [&hellip;]<\/p>\n","protected":false},"author":4489,"featured_media":619246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[24,23],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BDO in Ukraine provides a new service. Audit of Grant Project Reporting and Other Services related to the Verification and Monitoring of Grant Funds - European Business Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eba.com.ua\/bdo-v-ukrayini-nadaye-novu-poslugu-audyt-zvitnosti-za-grantovymy-proyektamy-ta-inshi-poslugy-shho-pov-yazani-z-perevirkoyu-i-monitoryngom-grantovyh-koshtiv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BDO in Ukraine provides a new service. Audit of Grant Project Reporting and Other Services related to the Verification and Monitoring of Grant Funds - European Business Association\" \/>\n<meta property=\"og:description\" content=\"Since the outbreak of full-scale war, the humanitarian and economic situation in Ukraine has deteriorated significantly. 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