Due Diligence identified Mis-Utilisation of Grantee

2017-19

Background

Due diligence has greeted significance over the recent years. Its reasons are obvious and purposes are diverse.

Our Audit and Assurance team does due-diligence at client’s behest aiming to identify existence of any situation/ fact adverse or detrimental to client’s objective or assumption.

Our team has done more than half a centure of quality due- diligence and Internal audits thereby giving useful insights in auditee’s state of affairs.

Problem

Shikshanjali committed a grant of INR 6 Million to an Agency for providing good quality education in government schools in suburban areas.

After initial disbursement, a need was felt for checking of utilisation as per MoU. Grantee was building pressure for further grant and further delay may result in legal dispute.

Solution /Approach

When our Team did the Due diligence of the grant, astounding discoveries were unearthed. Many of the points were shocking for the management of Shikshanjali and evidence were supporting mis-utilisation of grant.

Grantee could not threaten legal recourse upon client for not releasing further grant. Management was able to save funds and legal dispute by taking support of our due diligence report.

Background

Due diligence has greeted significance over the recent years. Its reasons are obvious and purposes are diverse.

Our Audit and Assurance team does due-diligence at client’s behest aiming to identify existence of any situation/ fact adverse or detrimental to client’s objective or assumption.

Our team has done more than half a centure of quality due- diligence and Internal audits thereby giving useful insights in auditee’s state of affairs.

Problem

Shikshanjali committed a grant of INR 6 Million to an Agency for providing good quality education in government schools in suburban areas.

After initial disbursement, a need was felt for checking of utilisation as per MoU. Grantee was building pressure for further grant and further delay may result in legal dispute.

Solution / Approach

When our Team did the Due diligence of the grant, astounding discoveries were unearthed. Many of the points were shocking for the management of Shikshanjali and evidence were supporting mis-utilisation of grant.

Grantee could not threaten legal recourse upon client for not releasing further grant. Management was able to save funds and legal dispute by taking support of our due diligence report.

What the client said

We could not have imagined the ways in which Xpert’s quality due- diligence and internal audits helped us save funds and legal disputes.

Shikshanjali Edutech Consulting

Shikshanjali Edutech Consulting

Tax Consulting, Accounting & Bookkeeping Services