Do you require an Innovate UK Independent Accountants Report?

We can provide an Independent Accountants Report (IAR) for your business to help obtain a grant, like the Innovate UK grant.

Innovate UK is the UK’s national innovation agency. It is a public body funded by grant aid from the UK Government. Innovate UK supports business-led innovation in all sectors in the UK to help them develop their ideas by issuing grants to support with the costs.

Once you have put forward your project details and it has been accepted, the next most important step to obtaining any grant is engaging with an Independent Accountant who will put together the Independent Accountants Report (IAR) – including annexes 5, 6 and 7 and Statement of Expenditure. Innovate UK state your Independent Accountant must be a registered auditor listed at the audit register.

Innovate UK require your Independent Accountant to perform a reasonableness check on the expenses spent by your business to check it is in line with the terms of the grant. We will report our findings to Innovate UK.

As the Independent Accountant we will review your accounting records and correspondence and obtain any information necessary to perform these checks.

Innovate UK also require the Independent Accountant to:

• Test overheads included in the grant claim
• Confirm no other public funding has been obtained
• Check the amounts exclude VAT
• Confirm the amounts do not include interest from hire purchase, contract hire or credit arrangements
• Ensure that amounts claimed do not include any profit for the business

At A4G Audit, we are registered auditors with the Institute of Chartered Accountants in England and Wales and are authorised to undertake statutory audits of all sizes. We have extensive experience in providing Independent Accountants’ Reports for various grants, including Innovate UK.