Frequently Asked Questions of Our Clients
Q: Do you work on our premises?
A: We work at our client’s place of business unless the accounts payable transactions are available to us on CD’s then it is possible to conduct the examination in our offices.
Q: How much space do you need?
A: We need only enough space for our people to work in. This can be very temporary facilities. Examples: conference rooms, unoccupied desks, cubicles, etc.
Q: How experienced are your specialists?
A: All of our Auditors have experience in accounting or related fields. They also receive extensive training in our procedures in profit recovery.
Q: How long will it take?
A: The length of time spent on the examination will depend on the type of filing system, number of files and the problems uncovered. It will be completed efficiently and as quickly as possible.
Q: How many specialists do you assign?
A: It depends on the client’s accounts payable volume. Most examinations require a two-person team.
Q: Do you take care of correspondence?
A: With your permission we take care of all vendor contacts relating to our charge backs. Our people are well versed in the art of vendor interface and can handle all correspondence in a timely and knowledgeable manner while always being courteous to the vendors.
Q: What if you find a problem in the system?
A: If we find a problem in your payables system we will let you know immediately so that remedial action can be taken.
Q: What about confidential files and information?
A: We pledge to you that your files will remain strictly private and confidential. Our business is based on our reputation. We cannot afford to have any violation of your trust.
Q: How much are we (the company) involved?
A: Your involvement will be to have someone spend time during our kick-off meeting to acquaint our people with the system and physical layout on the first day. When we find overpayments, we prepare charge backs with appropriate documentation and contact the vendors for verification. We would like to meet with your designated representative for approximately 15 minutes one day per week once the examination is in progress.
Q: How many years do you examine?
A: On our first visit we normally do a two year examination starting with the most recent completed year and work back into the previous year.
Q: Who keeps track of the charge backs?
A: At the end of the examination we provide you with a complete summary of the charge backs made. We then continue checking the status of each charge back on a regular basis and invoice you for those that have been collected.
Q: Do you take any records off premises?
A: We do not take any records off premises. This is in line with our pledge to maintain the confidentiality of your files. The only exception is when Accounts Payable CD’s are given to us to work off premises.
Q: What payables do you look at?
A: We look at all payables. This includes capital expenditures, utilities, services, merchandise, freight, expense items, sales and use tax, etc. In other words, any item that would cause a check to be written except payroll and expense accounts.
Q: Do you file everything back?
A: All files will be returned to their proper places. In many cases our clients have told us that files were in better condition after the examination than they were before the examination.
Q: What if you find fraud?
A: If we find what appears to be fraud we will immediately notify you of our findings and suspects. We will then work with you according to your desires to resolve the situation. We earnestly hope that this type of situation will not develop. However, we do run into it from time to time and we handle it very discreetly.
Q: How are you paid?
A: We are paid after you receive the refund from our charge backs. We do not invoice anything until you have been compensated for the overpayment.
Q: What success do you have in collecting overpaid taxes?
A: Excellent! Our specialists have experience to properly document our findings and present them so there is little doubt to their validity.
Q: Will you conduct seminars for our accounting personnel, project managers, purchasing agents, estimators, etc.?
A: Yes, Absolutely! We will be happy to assist you to correct and/or prevent future overpayments.