Contract Negotiation and Audit Planning:
After a presentation has been made to a client explaining the entire process, and any questions have been answered, a contract detailing the type and extent of an audit is negotiated.
Once the contract has been finalised, the finer audit scope points as well as the processes involved in the audit are finalised.
Data Acquisition:
LPR will meet with a client’s IT representitive to determine the nature and extent of the data to be downloaded, as well as the format in which the data is to be supplied to LPR.
Audit Execution:
The data is interrogated, potential area of recovery are identified, and after sufficient research has been carried out, the actual recoveries are effected either by means of a deduction against a future payment, or by means of a refund to the client.
LPR will handle the entire process on a client’s behalf, including all vendor communication and/or correspondence, thereby minimizing the impact an audit would normally have on an AP dept.