Without automation and compliance, errors are inevitable. Whether it’s momentary attention loss, fatigue, or typos, they might seem insignificant, but they all add up and can have a huge impact on revenue.
Our Audit services help recover losses caused by these errors and highlight opportunities to improve compliance to mitigate future risk. And the best part? You only pay us a percentage of what we recover, and all we need from you is a simple data export.
Your complete Accounts Payable & Compliance Audit partner
We do all the work. We don't just identify the errors, we recover the funds too.
Our services require low input from you so you can focus on more critical tasks.
Transactional level control. We look at every single transaction.
We have our own industry-leading audit technology, which recovers up to 35% more than a traditional recovery audit.
ERPs don't protect you from invoice and payment errors. We work with your existing ERP platforms to reduce financial leakage.
Accounts payable audits
DUPLICATE PAYMENTS AUDIT
Are you a company that makes thousands of payments to hundreds of different suppliers? A duplicate payments audit identifies payment errors, duplicate payments and cross entity duplicate payments.
On average, one in 1,000 invoices is paid incorrectly. Aside from double payments, we identify other types of supplier overpayments, including credit notes that haven't been logged, or that are entered as invoices, and data entry mistakes on invoice amounts.
Our GST Analysis identifies where you may have incorrectly calculated or processed GST, any irregular and complex transitions that have been incorrectly processed, set-up errors in GST control accounts that lead to overstated outputs or understated inputs and incorrectly processed manual transactions.
SUPPLIER STATEMENT AUDIT
We'll review your supplier statements to identify any credits that have been overlooked.
What the big 4 do
Top-down audit approach with random sampling
Tick and flick / rubber stamping
Balance sheets, P&L, and regulatory audits
Report all errors, regardless of the impact to your business
What we do
We find errors in your favour and recover lost revenue
Bottom-up audit approach with granular data interrogation
We use decades of external industry knowledge with raw company data to provide actionable recommendation for your internal audit and compliance strategies
Invoice & contract compliance audits
Our contract and invoice compliance audit solutions take control of your different data sources, supplier agreements and rate cards for complex contracts (contract labour, travel expenditure, freight & logistics, cleaning, etc) to uncover errors, duplicates and overpayments. We'll also recover any lost funds we find during the process.
We offer two main types of contract and invoice compliance audits:
Audit the amount charged by the supplier against rate cards and complex contracts
Audit the work that is actually being conducted