Recovery Audit
What is Recovery Audit and its purpose?
Recovery audit is a modern collective term for different deviations. When a deviation is not detected in the system, it results into an unnecessary cost and hence a loss of profit. In modern computing system-intensive environment, these differences can result in large amounts. The purpose with the Recovery Audit process, which works exclusively with historical data, is to find and eliminate erroneous transactions and incomplete deduction among the company's account payable.
In most cases, the European enterprises have good control of their transactions, where deviation is approximately under one per mille. Practice shows that this small deviation renders in considerable millions.
Why?
By using our service Recovery Audit, the customer has a good opportunity to get back its lost capital, improve its liquidity and achieve higher profitability with minimal effort from the company's side. You take no risks and it requires minimal efforts from your side. When capital becomes reversed outcome a commission, otherwise our services free of charge.
Occurence of errors
Errors can occur in any organization. The most common errors are:
How does Recovery Audit work in practice?
After the agreement with you we download the information from your accounting system. We analyze the information by using our software tools, which is customised to locate anomalies in the records. The deviations are studied carefully by our experts where each transaction studied in detail. We inform you currently about the found differences and propose appropriate actions to win back your lost capital.
Advantages of Recovery Audit (RA)
All this you can get with minimal efforts from your own staff.