Has your organisation received a subsidy? Many subsidy providers, including provincial authorities, the Dutch government and the European Union, require you to submit a subsidy report that has been audited by an accountant.

Accurate subsidy reporting is important to demonstrate that the subsidy received has been spent in accordance with the applicable conditions. RSM supports you with the subsidy audit and assesses your reporting against the requirements of the subsidy provider.

What does a subsidy audit involve?

During a subsidy audit, we assess whether the subsidy funds received have been spent lawfully and in accordance with the subsidy application. Depending on the audit protocol, we review matters including:

  • the use of the subsidy funds
  • invoices and other supporting documentation for costs incurred
  • time records
  • the allocation of hours to the relevant project
  • compliance with the conditions set by the subsidy provider

Subsidies are provided by various parties, including private organisations, municipalities, the Dutch government and the European Union. Audit requirements differ between subsidy schemes. Our auditors have experience with a wide range of subsidy schemes and tailor the audit to the applicable audit protocol.

When should you start preparing your subsidy reporting?

Subsidy reporting is often combined with the financial statement audit, but a separate subsidy audit is also possible.

Because some audit protocols impose strict requirements, it is important to understand from the start of the project what your administration and reporting must comply with. Specific requirements may apply, for example, to the registration of hours and costs.

RSM can advise you on these requirements and, for example, support you in setting up your time registration. This enables you to properly record the required hours and costs throughout the project and helps prevent reporting issues from arising only when the subsidy audit takes place.

Why choose RSM?

Our auditors have experience with various subsidy schemes and the corresponding audit protocols. This enables us to perform the subsidy audit efficiently and provide clarity on the information required for your reporting.

By involving us in your subsidy reporting at an early stage, you will be well prepared for the final audit.

Need a subsidy audit?

Would you like advice on an audit protocol or do you need a subsidy audit? Our Assurance specialists are happy to discuss what is required for your subsidy reporting.

Wilfred Castricum
Partner & Head of Assurance
View profile
Hoofddorp
+31(0)23 530 04 00

Do you have a question? We will get back to you as soon as possible.

Frequently asked questions about subsidy audits

During a subsidy audit, an accountant assesses whether the subsidy funds received have been spent in accordance with the subsidy application and the conditions set by the subsidy provider.

This depends on the conditions of the relevant subsidy scheme. Many subsidy providers require the subsidy reporting to be audited by an accountant.

Depending on the audit protocol, information may be required on costs incurred, invoices, time records and the use of the subsidy funds.

It is advisable to determine the administrative and reporting requirements at the start of the project. This allows you to properly record the required hours, costs and documentation throughout the project.

Yes. Subsidy reporting is often audited as part of the financial statement audit. A separate subsidy audit is also possible.