Benefit From Our Best-In-Class Approach And Proven Strategies.
What is an Accounts Payable (AP) Recovery Audit? It is a historical or real-time review of your Accounts Payable transactions to identify erroneous overpayments and under-deductions made to your suppliers. The areas of an Accounts Payable Recovery Audit include duplicate payments, supplier credits, payment terms, accruals, rebates, allowances, pricing, contract terms, transportation, escheatment, fraud detection, real estate leases, among others.
What does every Accounts Payable Recovery Audit entail?
Our best-in-class approach to any AP Recovery Audit engagement begins with an effective recovery audit project plan that is developed in collaboration with our customer’s client’s specifications.
Your Dedicated Team With A Proven Process.
Each engagement is assigned a Managing Director that is responsible for all components of the AP Recovery Audit. A team is assigned including all US based employees of SAS. Every project has dedicated staffing to ensure an efficient audit with industry experienced auditors.
Our Project Plan, Your Piece Of Mind.
At the beginning of every Accounts Payable Recovery Audit, SAS will conduct a Kick-Off Meeting with our client to establish and outline a comprehensive project plan. Our project plan is designed to minimize our client’s involvement and time commitment. The plan will detail each step of the Accounts Payable audit process, recommended approach, scope, deliverables, and timelines. This preliminary audit plan will include:
- Review Accounts Payable audit objectives
- Client’s objectives for the engagement
- Data requirements
- Roles and responsibilities
- Scope of work
- Approach and deliverables for each recovery claim category
- Claim submission and approval process
- Communications schedule and Reporting
SAS will deliver reporting based on client specific directives, providing updates of recovery audit status and key indicators as agreed upon during the Kick-Off meeting.
SAS’ proprietary web-based Claims Approval System – The Vault, will be utilized throughout the Accounts Payable Recovery Audit engagement to monitor and track claim production, supplier & internal communications and real-time reporting.
At the conclusion of the Accounts Payable Recovery Audit, we will deliver our Management Report detailing our findings and recommendations for improvements to your systems and controls to avoid future leakage.
We also provide value added reporting for many of our clients which will provide greater insight into their Accounts Payable environment. These reports are customized based upon client specific needs.
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