Comprehensive recovery audit services, and then some.
As part of our comprehensive full scope recovery audit services, SAS offers audits in a variety of areas often overlooked by other recovery audit firms. As with every recovery audit we perform, we will ensure a fully detailed Audit Plan is developed and adhered to in accordance with our clients’ directives, respect for client vendor relationships, and reporting of all audit recoveries and results complete with root cause analysis and recommended corrective action.
Freight compliance adherence is an area often overlooked by companies. Most purchase order and routing freight guidelines encompass dozens of rules and restrictions that can result in non-compliance. An SAS freight recovery audit will perform a thorough review of your freight bills and payments to ensure vendor compliance to the terms dictated on your purchase orders and to your routing freight guidelines provided to suppliers. A comprehensive listing of these auditable areas is available upon your request.
We also provide a service that will analyze contracts with your transportation supplier. In many cases, renegotiation of these contracts can result in significant future cost savings and profit improvement.
Each state requires companies to escheat (turn over) all stale checks that are a certain number of years old. Many of these stale checks are open for legitimate business reasons and should not be remitted to the respective state. With our Escheatment Avoidance Audit, we have been successful in helping our clients “save” these dollars.
Our recovery audit team has a broad base of escheatment experience. Individual research is conducted on each outstanding check looking for payment anomalies including duplicate or wrong vendor payments. We will correspond with the payees to determine if the transaction can be voided and then recognized by your company as revenue. We will provide any state required documentation to serve as backup in the event of an escheatment audit.
The utilization of purchase cards can dramatically reduce the administration cost of high volume, low dollar purchases for a company. In addition to internal use of p-card transactions, some companies are implementing initiatives to enable suppliers to utilize p-cards for non contractual / purchase order transactions. Although effective from a cost standpoint, internal control deficiencies can arise due to potential lack of oversight and security over this process.
SAS can perform an Accounts Payable recovery audit of your company’s p-card disbursements. Common post-audit profit recovery opportunities include duplicate payment of p-card transactions, security over your p-card transactions, and accuracy of associated fees.