The SNP has signed contracts with new auditors, the party has said, confirming earlier reports today.
In a statement this morning First Minister Humza Yousaf said the firm - AMS Accountants - will do the books for both the Westminster group and the wider party.
SNP Westminster Leader Stephen Flynn MP said he was confident the party would meet the deadline for submitting its accounts to the Commons.
The move will mean it can receive £1.2m of Short money, public funding given to opposition parties.
Under parliamentary rules if a party cannot present an auditor’s certificate to the Commons by May 31 it may lose access to the funds.
Such a development would be a severe blow to the work of the SNP in the Commons, potentially leading to redundancies among its Westminster staff.
READ MORE: SNP Finances: Scottish Tories make bid to force statement
The party as a whole needs to submit its accounts to watchdogs at the Electoral Commission by July 7, with failure to do so potentially resulting in a fine.
News that accountancy firm Johnston Carmichael quit as auditors in September only emerged as a police investigation into the SNP's finances ramped up in recent weeks.
Their resignation also led to a row over transparency in the party.
Mr Yousaf was not told the firm had quit until he was elected SNP leader at the end of March this year, while Westminster group leader Stephen Flynn was not informed until February 10 despite taking up his leadership role on December 6.
In his statement this morning Mr Yousaf confirmed that the party has secured the services of auditors to complete the work for the publication of accounts and that contracts are in place for both the party and for the Westminster group's accounts.
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The SNP leader said: “I am pleased to confirm that we have secured the services of auditors to take forward our accounts.
“We take our statutory obligations extremely seriously, so it is welcome news that AMS Accountants Group will complete the accounts for both the party and the SNP Westminster group.
READ MORE: SNP did not tell Commons finance team about auditors's exit for months
“There is hard work ahead, but it is really encouraging to have them on board as we work towards challenging deadlines.
“I am very grateful for the work of our new party treasurer Stuart McDonald in securing the auditors' services. I also wish to thank our previous auditors Johnston Carmichael for their professional work over many years.”
SNP treasurer Stuart McDonald MP said: “This announcement represents a significant step forward of the party’s stewardship under the leadership of Humza Yousaf.
"I am pleased to be getting on with the role of National Treasurer at this important time for the SNP, and we will continue working hard and standing up for the people of Scotland.”
Mr Flynn said: "I'm pleased to confirm the SNP Westminster group now has auditors in place - and I'm confident we'll meet the deadline, as in previous years.
"Throughout this period, SNP MPs have remained focused on standing up for Scotland and supporting our staff. We will now redouble our efforts to hold the Tories and pro-Brexit Labour Party to account for the damage their policies are inflicting on Scotland."
A source earlier told the BBC: “Humza Yousaf, Stephen Flynn and their teams have had to put in some shift to fix the situation they inherited but they’ve managed to turn things around in a matter of weeks and both the party and the Westminster group now have auditors in place.”
Last week the First Minister said the party would find it challenging to find a new firm of accountants to do its books in time for the deadline.
Speaking to the BBC, the First Minister said he is “going to work towards meeting the deadline” but stressed: “It’ll be challenging. I won’t pretend otherwise.
“There is the ability to ask for an extension if required. We’re not in that space yet.”
He added that finding auditors was one of his “major priorities”.
His comments came after the party’s leader in Westminster, Stephen Flynn, warned it could miss out on more than £1 million.
On Monday last week Mr Flynn said the party was doing “everything possible” to meet the deadline, but finding auditors was proving difficult.
He revealed he only became aware of the lack of auditors on February 10, despite becoming the group’s leader in December.
The development comes amid an ongoing police investigation into the SNP’s finances, which saw former chief executive Peter Murrell and treasurer Colin Beattie arrested earlier this month.
Both men were released without charge pending further investigation.
Mr Beattie later stood down as party treasurer meaning Mr Yousaf held the role for a brief period until Mr McDonald was appointed to the position by the party's ruling body, the National Executive Committee (NEC).
Last month it also emerged the NEC was also kept in the dark about Johnston Carmichael's resignation.
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