 | | |
|
| | Outline Audit Process - Invoice Level Audit | |
| | |
|
| The normal steps in the audit process are set out below:
Lexona will request a data extract based on the agreed scope and normally process this within two weeks, after which a convenient start date is requested.
The audit normally starts with a Client meeting, where we establish any further exclusion, can present our standard forms for corresponding with suppliers and answer any questions. At this stage we will be instructed to the extent that the Client wishes to review approaches before they are made to suppliers. We ask to be provided with a terminal with “read only” access to the Accounts Payable system and after the meeting it takes about 30 minutes to outline the menus and advise passwords. Read only access is valuable for our validation procedures to allow us to identify subsequent corrections that have been made.
The auditor will present a weekly schedule of recoveries achieved. A Client would have to approve these before Lexona could use them to support any invoice raised at the agreed rate. Each recovery listed will be supported with a documentation pack explaining the errors.
In the course of the exercise the auditor would be responsible for obtaining copies of invoices and all clerical routines involved in obtaining a recovery. This is an unobtrusive exercise designed to create minimal disruption and call on resource.
At the end of the audit Lexona produces a draft report, summarising findings by type and with recommendations for changes in procedure.
Lexona can also offer tailor made management information (currently 19 reports) identifying redundant suppliers, duplicate accounts etc.
| |
Back to top |
|
|
|
| | |
|
| | Outline Process - Contract Compliance | |
| | |
|
| We will carry out all the work necessary to provide summary schedules of key pricing terms and variations for selected supply contracts, with minimal disruption to your procurement staff.
We will work closely with your IT department to secure a "right first time" extract of data.
Our staff will present claims for Client review before any approach is made to suppliers.
We will maintain "audit integrity" ratios to demonstrate what we hope to achieve, a 100% acceptance of the validity of claims presented. | |
Back to top |
|
|
|
| | |
|
| | Outline Process - Property Audit | |
| | |
|
| We will normally work under the direction of your portfolio / facilities manager.
We will create or help update your property portfolio detailed register.
We can often use financial data obtained for accounts payable audit to meet many of the financial data extract requirements, saving effort.
We would be pleased to introduce and help co-ordinate utility and communications audits, further enhancing the overall gains. | |
Back to top |
|
|
|
| | |
|
| | Outline process - ancillary and other | |
| | |
|
| Lexona is pleased to work with Clients to specify scope and method for Client or Industry specific audits of expense or revenue transactions.
Lexona can also introduce related services such as data input direct from digitally scanned documentation. | |
Back to top |
|
|
|
