IVCC is a not for profit company limited by guarantee with charitable status in both the UK and US. The annual statutory accounts of IVCC are audited by Grant Thornton UK LLP. This ensures compliance with FRS 102, the Companies Act 2006 and the Charities SORP.
IVCC benefits from shared accounting and audit arrangements with its host institution the Liverpool School of Tropical Medicine (LSTM). A finance and investment committee made up of senior employees and trustees external to the organization give governance oversight on all financial operations of IVCC and meet 4 times a year. A specialist taxation service is provided externally. The team has extensive knowledge of all major funders within the sector and the expertise to comply with all external funder audit requirements.
All internal audit work is carried out externally by RSM Risk Assurance Services LLP, part of a global group specialising in audit, tax and consulting services. RSM’s remit is to provide independent and objective assurance to add value and where appropriate make recommendations to strengthen governance and control processes and identify opportunities for operational efficiencies adopting a risk-based approach. An audit committee exists to oversee all recommendations made.