Duplicate Payments & VAT
The cornerstone of our audit approach is the powerful software we deploy to analyse extracts of our client’s transactional data affording our auditors the ability to accurately data mine information and produce client specific management reports.
By using our ‘cloud computing’ infrastructure which incorporates a secure web based software application, our auditors have the ability to work off-site in a controlled environment, thereby minimising the use of our client’s resources.
Our non-intrusive approach to auditing allows for high level client management control as communication lines can be kept between the auditor and nominated personnel who can review, process and agree the results in a methodical way.
The scope of the work covers the obtaining and processing of client AP data based on a template supplied by us. We normally ask for a complete record of all files and then process the fields we require such as supplier name, value, invoice number, invoice date and payment information.
As part of our offering we also request, where applicable, scanned images to be incorporated into our database, as this aids the confirmation of duplicates once identified.
The reports are then reviewed by the audit team to determine validity and to verify that actual payments were made and that there has not been a subsequent adjustment. This could be in the form of a reversal by the client or a refund by the supplier at a subsequent date. Very often these reversals do not form the exact format of the original error and the software has routines to compensate for these.
We also check the client systems to ensure that refunds have not been made post data download. This can be by attendance at the clients premises or equally effective through a VPN link.
Once verification has been confirmed the recovery can be made via a deduction from the next supplier payment or in the case of a supplier no longer traded with or a debit balance, through direct contact by us.
All claims are processed through our on-line portal and information of the audit is available to the client at all stages through initial logging to final recovery. As with all our audit work, this information is available on-line in real time as are the comprehensive reports which are supplied.