Accounts payable audit is where we use our specialist tools and techniques to identify duplicate and over-payments. A typical audit is based on a your companies spend over the last 5 years. Transactions volumes and spend amounts are a good indicator as to what we are likely to recover for your organisation. In a 5-year period if a company has spent £1 billion we are likely to recover in excess of £1million. In real terms the average company would need to generate £4million in turnover to achieve £1million of profit. These audits include: Duplicate Payments, Over-payments, Multiple Supplier Payments, VAT/TAX, Foreign Currency, Missed credits, In-correct payments and Line item missed discounts (Retail).
VAT and TAX is an area where we ensure our clients have not under claimed or under recovered. With the changes to VAT in the UK in recent years it has created lots of scope for VAT recoveries and if your organisation has employees that travel, stay in hotels or attend events as part of their work we would be able to find refunds. We have made many large Tax/VAT recoveries for our clients.both in the UK, Europe, EMEA, Asia and the US.
We ensure you paid the correct price for goods and services, as well as making sure the transaction is correct. Contract review can produce far more recoveries than duplicate payments, as you find that if there is a claim usually there are many over-charges throughout the contract period. We have developed many bespoke reports to monitor agreements on Airline fuel through to Cinema ticket monitoring, and then made recoveries from errors where over-charging has occurred or the agreed discount was not applied.These audits include Contractual errors, Price x Volume - Discount/rebates = Contracted amounts including any Service Level Agreement that was not met in terms of time/delivery and quality.
Chasing late payers is time consuming, counter productive and expensive, more so in a foreign market. Furthermore, experience shows that the longer a debt is overdue the greater the risk of it not being paid. Current market conditions means that companies are more reluctant and less able to settle invoice payments quickly. ADR Audit's premier partner is affiliated in over 100 countries worldwide and can offer collections in whichever international market you are in with people who speak the language and understand local market and legal requirements. Also providing Credit reports, Asset Disposal, Sovereign Debt, Dispute Resolution and International Tracing.
Energy costs are ever changing and the market is difficult to understand since deregulation. The price movement makes auditing this area very complex and challenging. However we have experts in the area of Electricity, Gas and Water that have all the price information from previous years to compare your charges and ensure you have paid the correct cost. Your bills are audited for compliance and refunds obtained from your utilities supplier when over-charging has occurred.These audits include DUOS and TUOS, Meter readings, Unit rate vs usage, Availability Charges, Leakage, Disposal charges (water), Trade effluent charges, shared supply, water devices and bespoke anomalies.
Telecoms is a complex area to audit and requires an in-depth understanding. Our clients are finding they have limited understanding of how the bills are made up and are continually finding charges on the bills that they have little knowledge about reclaiming. Our reviews are comprehensive and we include: Tariff checking, circuits on/off, Price review, Correct frequency, Radial distance, Master contract, Cease orders, Surcharges, Double billing and VAT.
Our specialist property auditors can review Rent and Rates. We have recovered significant sums of money whilst reviewing property payments, which include, correct rates paid, End of year, Management fee's and Reconciliations. Also under review would be Over-payments, Correct relief, Exemptions, Rateable values, and incorrect calculations. Insurance, Lease provisions, Credits, Sub-tenants, disposals and Service charges ensure our audits are comprehensive when looking for property charge recoveries.