In an ideal world we know that systems are perfect and there are plentiful resources to control processes and comprehensively check compliance.
The current reality is a shift to working from home, in some cases furloughed staff and a period of prolonged pressure and disrupted processes – the dangers have heightened not lessened. We know from client experience that in times of disruption, or when people take their eye off the ball, this can result in a significant increase in profit leakage.
This article explores 3 ways in which Aveiroe’s Recovery Audit Services can help mitigate this risk.
Transition To The New Reality With Confidence
The imperfect storm
This year has seen many organisations accept that business process and recovery audits are becoming increasingly vital.
We know that systems are imperfect, resources are stretched, and processes are under severe pressure. Testing brings welcome extra assurance, reveals where losses are occurring and helps implement improvements.
These three simple audit steps can be introduced immediately, on a contingent fee basis, with the lightest of touches:
Supply Chain Audits
Complex supply chains, involving a myriad of processes, will have been affected by changes across your vendor base as well as the amended work practices within your own organisation. During lockdown the dangers of profit leakage have increased, with the shift to working from home and in some cases furloughed staff.
We can heighten and improve your vigilance across this period by testing those processes. By using our services to monitor the fine detail of the supplier arrangements, before/during/after lockdown, your losses will be mitigated.
Receivables Auditing
Unlike our competitors, our holistic audit programmes cover your entire business, including receivables accountings. This maximises the value and invariably generates more recovered profit than the selective approach of other audit firms.
Audit of VAT Accountings
In a period of disruption our clients’ experience is that VAT reclaim becomes sub-optimal, impacting P&L and cashflow. Compliance is at risk.
Our audit services reveal material omissions or errors. Our forensic accounting skills can be deployed as soon as you wish to improve the accuracy of your returns.
Our ethos is to help you improve
The intelligence, learnings and insights obtained through our Faculty programmes are perceived as market-leading by clients.
Want to know more? You can contact us here.