For pricing information about our services, please use our Contact Us page or email us at info@autoaudit.com, and we'll respond as soon as possible.
A/P Overpayment Audit
Our overpayment audit leaves no stone unturned. Following an electronic review of 100% of your Accounts Payable data, our team of highly-experienced auditors will investigate every single invoice for overpayments. Both electronically and manually, we look for and find:
Duplicate payments
Sales & use tax overpayments
Unclaimed assets / property
Payments to wrong vendors
Missed rebates
Stolen checks
Missed discounts (volume and date-driven)
Payments for merchandise never received (documentation-allowing)
Unapplied credit memos
Duplicate vendors
A/P Fraud Audit
Everywhere you turn, fraud is making news headlines: Worldcom, Enron, just to name a few. Our philosophy regarding employees and vendors in general is "trust, but verify". Use your data to identify any potential red flags that indicate fraud is occurring in your A/P department. If leads generated by our software seem legitimate and worth investigating, we have a team of highly-trained Certified Fraud Examiners who can investigate. Here is a list of what we will look for using our proprietary software:
Check fraud / stolen checks
Perform vendor/employee cross-checks to find unusual relationships
Detection of unusual and above-average payments per vendor
Application of Benford's Law to detect fraudulent amounts
Detection of significant changes in invoice volume per vendor
Detection of vendors with a significantly greater percentage of cancelled checks than peers
Check legitimacy of Vendors and Employees using AccurInt software
Identify invoices falling just below approval amounts
Find fictitious vendors / ghost vendors (P.O. Boxes, Mail Drops as addresses)
Positive Pay / Bank Reconciliation
Our firm has the capability to perform a retroactive Positive Pay / Bank Reconciliation service. Positive Pay is a purchased process whereby you send your check file to the bank, and the bank only honors the check if it's on your file. We go a step further: if you provide us with your electronic bank statements, we will compare the bank statements with your A/P file by check #, check date, check amount, AND payee name. Using this methodology, we can catch situations where checks are stolen and everything matches except the payee name. Many positive pay software packages will only match on check #, date, and amount (not payee name) because performing any type of fuzzy-matching on payee name takes time (too much time in a fast-paced world). Even if you have Positive Pay now, let us do an audit to make sure nothing is "falling through the cracks".
Vendor File Maintenance
Duplicate Vendors: Using our proprietary data mining methods, we will eliminate duplicate vendors in your file
Duplicate Employees: we can identify all duplicate employee records
Statistical Analysis Support
Calculate statistically valid sample sizes
Calculate probabilities
Perform correlation analysis, ANOVA, t-tests
Provide cluster analysis expertise to probe hidden relationships
Provide regression analysis to predict when fraud will occur
Perform outlier detection to identify abnormal trends |
