Purchase Ledger Audits
From a simple download of historic Accounts Payable data, Meridian's Recovery Audit service undertakes an initial service using a series of tests. A number of sophisticated computer algorithms are used. These identify a list of 'suspicious' transactions. Items identified typically include:
- Duplicate invoices paid
- Copy invoices processed
- Wrong vendor paid
- Incorrect details applied (e.g. decimal point errors)
- Incorrect VAT reclaim (including public sector partial exemption)
Acting 'under the radar' Meridian's Recovery Audit service delivers an 'in-house audit' . This means that your suppliers remain unaware of any external involvement. Meridian contact suppliers on your behalf and agree recoveries, which are repaid directly to you.
Meridian Recovery Audit invoices you an agreed proportion of actual sums recovered after you have received repayment.
Importantly, unlike our competitors, our fees are based on the value of recoveries net of VAT. This means that, like-for-like, our competitors' fees are 20%/17.5% higher in real terms.
Our client team would be delighted to discuss realistic figures on the basis of your specific requirements on request.
Click here to contact us about our recovery audit