Audit Specification
Essential to any audit is assembling historic payment
information and marrying it with its source, typically
a supplier agreement, lease, contract, order or invoice.
Applying our experience of how internal processes
work (or fail) and expertise in contract interpretation
in tandem with financial data, we analyse information
on mass with our bespoke software; this in turn highlights
suspect transactions. Databases and financial packages
allow simple extraction of information which we merge
and analyse.
Process
A typical audit will involve the following processes:
- Specifying areas of an audit –
these are agreed with the client ensuring there
is no duplication of a service.
- Specifying the date to which to
audit – we audit closed accounting periods so not
to encroach on work currently in hand.
- Assembly of contract/property information
and financial data – we typically audit a three
year period.
- Data manipulation – this identifies
recovery opportunities.
- Client review of potential recoveries.
- Realisation of recovery.
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