“Anyone can spot an error. Correcting it takes effort. Preventing it takes insight.”
In an accounts payable recovery audit, identifying overpayments or vendor issues is just the beginning. The real value comes from understanding why they happened and ensuring they don’t happen again. That’s where strong, actionable audit reporting transforms a one-time recovery into a long-term performance improvement.
Data without explanation is just numbers on paper. If a report doesn’t analyze root causes, connect them to process improvements, and present clear next steps, it’s not helping to support meaningful change. A best-in-class recovery audit firm doesn’t stop at tallying recoveries; they provide clients with root cause analysis.
The Framework for Lasting Change
An effective end-of-audit report should always answer three critical questions
- What happened? – A clear account of recoveries by category and source.
- Why did it happen? – Identification of process gaps, control breakdowns, or system flaws.
- How can it be prevented? – Specific, actionable recommendations to address root causes and strengthen controls.
When these three questions are addressed, reporting shifts from reactive recovery to proactive protection, arming AP and finance leaders with a roadmap for improvement.
The Strategic Imperative
As the IIA’s Standards emphasize, auditors should go beyond the surface level and make recommendations that improve governance processes—driving more durable, system-level fixes.1 The Public Company Accounting Oversight Board (PCAOB) agrees, stressing that root cause analysis is critical for identifying and addressing systemic issues, not just isolated events.2 Harvard Business School Online notes that root cause analysis helps leaders understand shifting conditions and confirm that improvement efforts are relevant and sustainable.3
What Meaningful Reporting Delivers
Recoveries represent found money, but prevention stops losses before they happen. Meaningful reporting offers:
- Insight into high-risk vendors, processes, and transaction types
- Trend analysis to anticipate and mitigate future issues
- Visual dashboards and plain-language summaries for stakeholders at all levels
- Recommendations that are specific enough to implement immediately
From Recovery to Transformation
Audit reporting should teach, not just inform. When reporting delivers context, insight, and actionable recommendations, it empowers clients to make changes that last. A single audit transforms into sustained improvements and measurable returns that far exceed the cost and effort required.
“As CFO for several companies, I’ve contracted with Strategic Audit Solutions multiple times for our Accounts Payable Recovery needs. Working with the SAS team has always been a pleasure—they partner with us in an unobtrusive manner requiring minimal time from our team. Their work is professional and comprehensive, and at the end of each engagement, SAS makes sound recommendations on how we can avoid profit leakage going forward. Their services resulted in substantial recoveries we would not have realized otherwise.” – Stuart Stoller, Former CFO, Biometric Identity Verification and Authentication Solutions Company.
The difference between a good audit and a transformational one isn’t just in the dollars recovered, it’s in the lasting protection built for tomorrow. At Strategic Audit Solutions, we don’t just find what you’ve lost- we help you understand why you lost it and equip you with the insights to prevent it from happening again.
Anyone can spot an error. Correcting it takes effort. Preventing it requires insight. And insight is where sustainable financial health begins.
1 https://www.theiia.org/globalassets/site/standards/globalinternalauditstandards_2024january9_printable.pdf
2 https://pcaobus.org/news-events/speeches/speech-detail/keynote-address_578
3 https://online.hbs.edu/blog/post/root-cause-analysis
