Statement Audit

Don't Allow Your Suppliers To Control Your Profits

SAS has developed a strategic approach to a supplier statement audit ensuring that a thorough and detailed review is performed to identify unrecognized supplier credits and identify system weaknesses. During an Accounts Payable Recovery Audit, we request statements from a client agreed-upon list of suppliers, diligently following up with unresponsive vendors to ensure compliance with our request. All statements are reviewed for open credits, allowing us to recover all available funds and expose patterns that could lead to additional recoveries.

Your Dedicated Team With A Proven Process

SAS historic compliance rate on statement audits is in excess of 95% for targeted suppliers.

  • Client data is “scrubbed” to eliminate duplicate suppliers and to ensure valid contact information
  • Client approved statement letters are emailed to all targeted suppliers
  • Statements received are captured in the SAS client portal
  • Statements are tracked from receipt through resolution

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Statements Are Reviewed By Our Experienced Statement Audit Group

Supplier statements are reviewed for the following:

  • Validation that the supplier submitted a complete statement of all activity for all account numbers
  • Identify credits already captured by the client
  • Identify and validate with supplier open/unapplied credits
  • SAS reviews each missed credit to determine the Root Cause Analysis and provide our clients with recommendations to improve its internal processes and reduce future profit leakage.

SAS has a real-time solution for statement reconciliation and auditing – Statement Wizard®

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SAS Insights

February 14, 2024

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In the intricate world of healthcare supply chains, where precision and reliability are paramount, the Accounts Payable (AP) process plays a critical role. One often underestimated strategy for enhancing supplier […]

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February 5, 2024

Unveiling Efficiency: Exploring AP Audit Objectives for Financial Excellence

Over the last three decades, Accounts Payable (AP) Recovery Audits have been a widely known best practice for medium to large size organizations.  Depending on the environment, organization and unique […]

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January 30, 2024

Strategic Audit Solutions, Inc. Proudly Announces Employee of the Year 2023 – Larry Crawley

Larry Crawley, who recently assumed the role of Chief Technology Officer, has been an invaluable asset to SAS throughout his remarkable 10-year career with the company. His dedication and outstanding […]

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January 16, 2024

Strategic Audit Solutions, Inc. Recognized as Best & Brightest Companies To Work For in the Nation

Strategic Audit Solutions (SAS), a leading multi-vertical recovery audit firm, is thrilled to announce its recognition as one of the Best & Brightest Companies To Work For in the Nation. […]

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