- Should my company consider having this type of audit done?
If the volume of your annual purchases is important and that more than one person are involved in the whole purchasing process, your company could benefit from this type of audit.
- My staff is overburdened as is, I do not which to impose yet another assignment on them.
All we need is 1 or 2 days of your time to understand how you work and where you file the various documents we are going to need, the our consultants will work completely independently. We can guaranty you that our assignment will not add dditional strain on you or your people.
- And if you find nothing?
You owe us nothing.
- We regularly check our accounts and correct all errors we find. Why should we call you in?
Our methods combine data processing and classical methods. Our consultants cast a new eye on your accounts: they see things from a slightly different angle and sometimes this brings facts into light which have not shown in more classical audits.
- We could do this type of audit ourselves. Why should we use the services of
CASHTRACK?
Yes you could but since CASHTRACK does nothing else besides this type of audits, we have become very efficient and it is the only way of being cost effective.
- What happens if we find the overpayment ourselves?
We exclusively analyse past fiscal years which have been audited before and are closed, usually the last 4 years. You should theoretically be finished with your own analysis and the corresponding files be archived.
- Our IT system forbids the double entry of invoices. We therefore never pay the same invoice twice.
Most systems forbid the double entry of invoices but none of them has an error detection system embedded.…
- We have drawn an agreement with our suppliers at the end of the year, we cannot go back on it.
If the amount due to your company is important, will you give it away?
- Our suppliers are sometimes also our customers. Negotiations in those cases are to delicate to be handled by an external company.
Three solutions:
1. We exclude those suppliers from the scope of our analysis.
2. We identify the overpayments and you recover them.
3. You do trust us and we determine together the best recovery strategy, then we recover the monies for you.
- How much are you going to find in our company?
It is impossible to foresee but it is usually admitted that 0.5 to 1 ‰ of the annual value of your purchases goes into overpayments.
- How can you guarantee the confidentiality of our data?
All you give us is your data on an electronic encrypted support. The data is handled at our data service centre, on a secure machine and they are given back to you at the end of the assignment. The paper documents never leave your premises.
- How long is an assignment?
On average 3 to 6 months, but depending on the volume to be analysed it could be longer.
- What do you do if you discover fraud?
Before even mentioning it to you, we assemble all data necessary to establish the fraud suspicion. We then show you the results of our investigations and, should you want it, we help you put together the legal file to prove the fraud beyond any doubt and stop it.
- How much does it cost?
You pay us only a percentage of the recovered monies without any advance payment or any expenses.
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