Reporting Designed For Transparency, Insight And Results
From the beginning of our Recovery Audit projects until completion, SAS provides multiple reporting methods to get you up to date, informed and educated on every facet of your audit engagement. We provide weekly reporting, our client portal – The Vault, including self-service custom reporting and our Management Report at the end of the project.
Reporting Is Key Insight To Accounts Payable And Procure-To-Pay Process
Understanding how funds leak in the Accounts Payable and/or Procure-to-Pay process, is crucial to risk mitigation. Throughout the Recovery Audit, recovered funds are analyzed for the root cause of the overpayment or under deduction. Accounts Payable departments process more than 99% of the transactions error free. Issues arise in many areas – both internal and external to your organization. Reporting is a key area of our engagements from a project status point of view to the mitigation of future funds losses.
The Vault is designed to support the end-to-end claims administration process and provide visibility/ transparency throughout the project. Whether you want a quick, at a glance view, or to dig into the details, The Vault provides full visibility into your Recovery Audit. The Vault also features self-service reporting such as claim status, funds recovered, by supplier, by root cause and much more.
Weekly audit updates are prepared by your Audit Director including key metrics, new claims, outstanding items and cumulative totals for claim types and categories. Reporting can be customized to suit each engagement and is delivered to key stakeholders. Weekly reports are also presented and discuss during our weekly/bi-weekly update meetings.
As important as the fund’s recovery is understanding how the errors occurred and the identification of the root cause. Throughout the audit SAS is assessing internal controls and determining what is working, and more importantly – where process failures are occurring. Our Management Report includes:
- Executive Summary
- Details Analysis of Recoveries by Category
- Root Cause Analysis
- Process Improvement Recommendations
- Detailed Claim Findings
SAS has strong reporting in place to provide visibility and transparency – keeping you informed throughout your project.