If your company has received an Enterprise Development Grant (EDG) or another government or institutional grant, your funding agency may require an independently audited statement before releasing or finalising payout. Ackenting Group (AG) provides ACRA-registered grant audits for Singapore SMEs, with fixed-fee quotes agreed upfront and no surprises mid-engagement.

What Is a Grant Audit?

A grant audit is an independent verification that funds received under a government or institutional grant were used strictly for the approved purpose, in line with the scheme’s terms and conditions. The auditor reviews your claim documentation, supporting invoices, and financial records to confirm that reported costs are eligible, properly substantiated, and within the approved grant period.

Grant audits protect both sides: the funding agency gets assurance that public money was spent as intended, and your company gets a clean, defensible record if the grant is ever reviewed or clawed back.

Which Grant Schemes Require an Audit?

Audit requirements vary by scheme and are set by the granting agency, not by your auditor, so always check your award letter for the exact condition. In general:

  • Enterprise Development Grant (EDG): Claims are typically subject to mandatory audit via Enterprise Singapore’s Pre-Qualified Panel of Auditors before payout, unless Enterprise Singapore has expressly exempted the claim.
  • Productivity Solutions Grant (PSG): Generally reimbursement-based and does not require a mandatory audit, though a grant administrator may still request verification for larger or higher-risk claims.
  • Sector-specific and institutional grants (including schemes administered by agencies such as IMDA, or grants tied to group or consolidated reporting): audit requirements depend on the specific award terms.

Common Pitfalls That Delay Grant Claims

Most grant audit delays come down to a handful of recurring issues:

  • Missing or incomplete supporting documents for claimed costs
  • Costs that fall outside what’s allowable under the specific scheme
  • Claims submitted for expenses incurred outside the approved grant period
  • Appointing an auditor too late in the process, leaving no buffer before the claim deadline

Getting your auditor involved early — ideally as soon as project milestones are completed — is the single biggest factor in avoiding a late or rejected claim.

Our Grant Audit Process

  1. Engagement and scope definition. We confirm which scheme your grant falls under, the specific audit requirement in your award letter, and your submission deadline.
  2. Document collection and readiness review. You provide claim documentation, invoices, and supporting records; we flag gaps before fieldwork begins rather than mid-audit.
  3. Testing and compliance check. We test claimed costs against the scheme’s eligibility rules and your approved project scope.
  4. Reporting. We prepare the audited statement or report in the format your funding agency requires.
  5. Submission support. We work to your claim deadline so the audited report is ready in time for submission, not after.

How Much Does a Grant Audit Cost in Singapore?

Grant audit fees depend on the scheme, the size and complexity of the claim, and how many funding periods are being audited. Because of that variation, we quote grant audits after a short scoping call rather than listing a flat starting price — but the quote itself is fixed and agreed before any fieldwork begins, with no hourly billing.

If you’re also due for a statutory audit or need a GTO audit in the same period, we can scope all of it together under one engagement.

Why Choose Ackenting Group for Your Grant Audit

  • ACRA-registered, ISCA-certified auditors. Your audited statement is signed off by a public accounting practice funding agencies recognise.
  • Fixed, upfront quotes. You know the fee before fieldwork starts — no hourly surprises on a claim that’s already time-sensitive.
  • Early engagement, on your timeline. We work backward from your claim deadline so document gaps get caught early, not after submission.
  • One team for every audit need. Beyond grant audits, our full range of audit services covers statutory, GTO, and group audits, so you’re not coordinating multiple firms across one filing season.

Frequently Asked Questions

What is a grant audit and when do I need one?
A grant audit independently verifies that funds received under a government or institutional grant were used according to the scheme’s approved terms. Whether it’s required depends on your specific scheme and award letter — some, like the EDG, typically require it before payout.

Does the Productivity Solutions Grant (PSG) require an audit?
Generally no — PSG operates on a reimbursement basis without a mandatory audit requirement, though your grant administrator may still request verification for larger or higher-risk claims.

How much does a grant audit cost?
Fees depend on the scheme and claim complexity, so we provide a fixed quote after a short scoping call rather than a flat starting price. The quote is agreed before fieldwork begins.

What documents do I need for a grant audit?
Commonly required documents include your award letter, project milestone records, invoices and proof of payment for claimed costs, and any correspondence from the granting agency on claim conditions.

What happens if my grant claim has compliance issues?
Unresolved compliance issues can lead to a reduced payout, clawback of previously disbursed funds, or rejection of future funding applications. Engaging your auditor early gives you time to address issues before submission.

Can AG handle my grant audit alongside my statutory or other audits?
Yes. Many clients engage AG for grant audits alongside their statutory audit or GTO audit, so one team handles every audit requirement for the period.

Ready to get your grant claim audit-ready? Get a fixed-fee quote from AG’s audit team.