Profit Recovery | re:coup - Forensic Audit, Profit Recovery

By: Recoup Audit  05-Apr-2012
Keywords: Forensic, Forensic Audit, Profit Recovery,

Profit recovery is a commission-only service that returns significant revenue to your bottom line. If we don’t find money, you don’t pay a cent. It might sound too good to be true, but it isn’t.

Our experience shows that we even the best systems have small errors. We undertake a range of audit scopes to recover that money for you.

  • Accounts Payable Review - A comprehensive review of all accounts payable transactions to identify erroneous payments. Includes analysis of spend by suppliers, average ‘days to pay’, identification of potential ‘problem’ suppliers.
  • GST Review - Detailed identification and recovery of miscoded and miscalculated GST.
  • Promotional Income Review - Frequently overlooked by traditional external and internal auditing techniques, Recoup Audit Promotional Income Review works with the client’s merchandising team and accounts receivable teams to make a detailed and focussed analysis of rebates, discounts, pricing and co-op income. This review has the potential to recover large amounts of missed income and provide future margin security and reliability.
  • Vendor Statement Review - 100% statement review to provide assurance that all vendor statements have been scrutinised for unallocated credits and overpayments. Vendor Statement Audit can provide significant assistance for the organisation’s Accounts Payable Team regarding accuracy of debtor balances prior to external audit review.
  • Rebate and Loyalty Incentives Review - A review of all rebate and loyalty incentive income indentifies areas that have been short paid. In some cases the calculation of this income due can be complex and time consuming. With Recoup Audit’s powerful software and staff experience and skills, a complete analysis is undertaken indentifying, validating and recovering money that is due.
  • Terms of Trade Review - comparing “what was agreed” with “what happened” identifies abnormalities that require further investigation. Terms of Trade along and supplier documentation can lead to tailored client-specific such as exchange rates, returns, lease agreements.
  • Post-System Implementation Review - Acquisitions, mergers and internal restructuring can often lead to short term system weakness and breakdown of existing controls. A Recoup Audit Post-System Implementation Review provides confidence that the changeover period has been fully and effectively audited at a time when IT and finance resources are often focussed on new system implementation.

Throughout the review Recoup Audit provide continued reporting on areas reviewed to date and claims ready for approval along with claims recovered. If an area is identified that requires immediate remedy to prevent further losses Recoup Staff will immediately provide a report with recommendations on how the error identified can be remedied. Recoup Audit will then work with management to ensure no further losses are incurred.

At the end of the review period Recoup Audit will provide a comprehensive management report including a summary of the profit recovery work undertaken coupled with a set of core analytics.

Keywords: Forensic, Forensic Audit, Profit Recovery,

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