Model Audit

Invest with Confidence

Our market-leading financial model audit team provides a range of assurance services to clients operating across the infrastructure and energy sectors, and beyond.

We enable sponsors and lenders to invest with confidence, providing comfort over the integrity, accuracy and robustness of the models used to underpin transactions and to subsequently monitor investment performance.

We are trusted by the most prominent lenders and investors across the globe, having provided assurance on some of the highest profile infrastructure transactions in recent years. Our services range from full model audits backed by PI cover, through to high-level model reviews. No matter the type of assurance however, our output is always clear, concise and reliable – with a strong focus on guiding clients through the process, rather than simply providing long lists of issues. 

Model Audit

our Expertise

The scope of our audits and reviews can be tailored to best fit your requirements.

Full Model Audit

A full model audit is typically performed upon request from key external stakeholders such as lenders, equity investors and public authorities, and is usually required to reach financial close of a transaction.

Robust Methodology

We deploy the tried and tested ‘cell-by-cell’ review method, guaranteeing a flexible but robust process, no matter the type of model. With a background in financial model development, we understand the key risk areas and have the commercial insight to identify outputs that are out of line with expectations. This allows us to raise insightful and relevant findings, unearth any errors and, importantly, potential errors that could arise as a result of using different input assumptions.

1
Kick off call
To ensure our audit team fully understand project background and its commercial drivers, and process timetables.
2
Bottom up review
A detailed review of each calculation in the model using rigorous cell-by-cell methodology. This is performed over multiple iterations, with issues and queries being raised after each.
3
Documentation review
If required, model inputs and calculations will be cross-checked against key project contracts and due diligence reports.
4
Analytical review
Once all material findings have been satisfactorily actioned we commence a top-down review, analysing key model outputs and trends.
5
Sensitivity review
A selection of key sensitivities will be reviewed, as required by the relevant credit and/or investment committees.
6
Opinion letter
Once satisfied the model is free from material error we will issue an audit opinion that can be relied upon, backed by comprehensive PI cover.
High Level Review

This service is suitable for clients seeking a level of comfort over a model’s reliability, but where scrutiny of each and every detail is not necessary, perhaps because no reliance is required by external parties, or where timescales do not allow.

Leveraging our experience of auditing and developing models we focus on common high-risk areas, whilst also reviewing the model more generally – in particular, scrutinising key model outputs relative to its inputs. This is supplemented by our sector knowledge, enabling us to identify outputs that do not align with our expectations. We will work through an agreed number of iterations to ensure any issues uncovered are corrected.

Although this type of model review is not as robust as a full model audit, it serves to provide high-level assurance that the model is functioning as intended. 

The outcome of the review is a letter of support, highlighting what has been reviewed and any areas of concern.

A helping hand

Taking the pressure off

From our experience of providing financial advisory services on the other side of the process, we understand that the closing stages of a transaction can be extremely stressful with deal teams under pressure to keep multiple ‘plates spinning’. The need for a model audit, particularly when required to achieve financial close only adds to this pressure.

Guiding you start to finish

We are here to guide you through the process. From the outset we will work with you to understand when the process should start, how many iterations are likely to be required and what input will be demanded of you and when. During the process we will ensure there is constant communication with your assigned project manager in our audit team, guaranteeing that iterations are completed in a smooth and efficient manner.

Why EvoInfra?

Our audit team is well-respected throughout the industry and is known for being meticulous, reliable and efficient.

Sector Specialist

Our audit team has reviewed over a thousand models covering nearly every sector of energy, infrastructure and beyond

Trusted Name

Our audit team is highly respected having built  enduring relationships with many prominent lenders and investors

Informed Auditing

We leverage our commercial acumen and model development background to spot issues early and provide meaningful findings

Cell-by-Cell

We employ a rigorous tried and tested review method to provide  upmost confidence in model integrity

Significant PI

The level of professional indemnity accompanying our audits inspires trust in the model calculations and assurance on its results

Global Coverage

We are well-versed in delivering assurance on models for projects and companies across the globe 

Model Audit

Clients & Credentials

Hemiko

Worthing Heat Network

June
2024
Model Audit Contacts

Get in touch to lean more about our model assurance services