Post Audit Recovery

CTP Solutions has partnered with Accounts Payable Chexs, Inc., a specialist in vendor disbursement reviews, a major contributor to the “Post Audit Recovery” industry in Canada. CTP Solutions is introducing Accounts Payable Chexs to Fortune 1000 companies in the United States. Accounts Payable Chexs Inc. provides a complete range of services, including accounts payable review, tax recovery/consulting, in-depth utility reviews/recovery and royalty overpayment reviews. Their varied and in-depth experience has enabled A/P Chexs to develop unparalleled expertise in Post Audit Recovery. Their staff is made up of designated accountants (C.A., C.P.A., CMA) with a minimum of 15 years experience in senior capacities. Reviewers not only know what to look for but where to look. All reviews are conducted according to GAAP and with complete confidentiality.

  • A/P Chexs’ success comes from the comprehensive methodology that no one else utilizes. Their use a combination of an electronic data evaluation and an on-site review of hard-copy files. The electronic evaluation provides an overview of your vendor profiles while also identifying specific transactions requiring an in-depth review.
  • Reviewers work independently, striving to minimize any disruption of your staff’s daily routine. After a brief orientation to your filing system, reviewers pull, photocopy and re-file all files upon completion of their work.
  • At the conclusion of the on-site visit, a detailed report is presented of all queries along with complete backup documentation to validate recovery findings. You have complete input regarding which vendors will in fact be approached for recovery settlement.
  • Upon your verification of the findings validity, A/P Chexs will then initiate the recovery process from the vendors and tax authorities on your behalf.
  • Management Reports contain observations and recommendations that can guide future improvements to your control procedures, including taxation issues. You will also receive an ongoing summary as to the status of the collections undertaken on your behalf.

One client, through Post Audit Review and Recoveries, was able to recover $750,000 due to missed Discounts, Volume Rebates, Freight Allowances, Tax Overpayments and Duplicate Payments. Subsequent A/P Chexs Suggestions reduced another client’s recoveries from $470,000 to $48,000 in one year, or 259 occurrences to 59. What this means is an additional 2.2 million dollars to their bottom line over a five year period.

“All” work is done on a contingency basis. “All” expenses during the engagement are paid for by A/P Chexs. You only get invoiced when the dollars are actually recovered. This means that there are no up-front costs to you. Can you Afford not to have A/P Chexs Look?

Contact us for more information on Post Audit Recovery and A/P Chexs, Inc. at CTP Solutions: (818) 483-0302

Reference: http://www.accountspayabletoday.com/post_audit_recovery.htm