The framework for the management of Exchequer grants is set out in Circular 13/2014 Management and Accountability for Grants from Exchequer Funds apply. The overall principle is that there should be transparency and accountability in the management of public money, in line with economy, efficiency
and effectiveness.
The circular provides that Grantees should submit their audited accounts to the grantor without delay after the end of the financial year. However, the circular also acknowledges that small community and voluntary groups will only have basic financial statements and receipts available as a basis for reporting and provides that subject to the approval of the relevant Accounting Officer, suitable financial statements can be provided as an alternative to audited accounts.