Receiving and using the budget funds, organizations are exposed to the risk of inspections by the competent state financial authorities.

ICLC offers comprehensive support to its clients as an expert in analysis of documents and reporting forms confirming targeted and efficient use of the funds.

As part of the due diligence, the ICLC experts will carry out:

• analysis of the structure and content of the reports on expenditures;
• analysis of contracts for acquisition of goods (works, services) for:

ü  presence of all material terms and conditions;
ü  interdependence of a customer and the suppliers of goods (works, services);
ü correspondence of the supplier’s activities stated in official sources to the works (services) acquired by the customer;
ü  correspondence of the goods (works, services) prices specified in the contract to the market prices;

• analysis of the goals, economic feasibility and necessity of the expenses incurred, taking into account the specific features of the financial and economic activities of the recipient of budget funds;
• check of the quality of execution and completeness of primary documentation confirming supply of goods (works, services).

The due diligence result represents a written report containing the information on the actual procedure of using the funds, as well as the assessment of their targeted and efficient use.

The issues studied during an inspection may be adjusted depending on the specific nature of the financial and economic activities of the recipient of the budget funds.