Accounts Payable Recovery Audit
Immediate business needs and concerns frequently take precedence over reviews of invoices, purchases and contracts. As such, discrepancies and errors within those past transactions and contracts may go unnoticed. CBIZ’s accounts payable recovery audit helps your finance and procurement department spot duplicate payments or overpayments while identifying available discounts and/or rebates. Through our customizable service, we deliver bottom line savings and assist clients in controlling their costs.
Our focused, dedicated professionals work closely with you to determine the scope of your accounts payable recovery audit. We can review your debit balances and credit memos and tax laws. CBIZ can also conduct a contracts and purchase order review and analysis that includes price and terms verification.
The results of our audit services can bring significant benefits to our clients. Examples of our clients' recoveries include:
- We helped a large services corporation return $224,000 of incremental profit to its bottom line because of an escheatment of unclaimed property.
- A client's engagement resulted in the recovery of $3.9 million and a revamp of its internal controls implementation.
With your management's approval, once the validation is complete, our experts will implement our industry-leading collections process.
You can rely on our us to be mindful of the nature and sensitivity of your supplier and vendor relationships. We conduct our audit and recovery services in a professional, courteous manner.