What is Recovery Audit?
Recovery auditing is a systematic approach of reviewing disbursement transactions and attempting to recover various forms of excess payments or under- deductions to the suppliers. Our experienced accountants and auditors will gather all your data and identify any such transactions that have been over-paid or under-recovered.
We provide recovery audit services to ensure that you get the most out of your investment. After identification of such irregularities and obtaining sufficient evidence, we will attempt to recover all the money lost due to such error disbursements.
Each year millions of dirhams are lost to profit leakage due to financial errors, overpayments, under-deductions, allowances and compliance issues. Achieving a 100% recovery is virtually impossible however; our team will focus on material anomalies that have significant impact on the profit.
Our services include the following:
- Pricing errors and differences due to fluctuation in exchange rate
- Over payment
- Overpayment of tax or under-deduction of tax
- Overlooked cash and trade discounts
- Unclaimed cheques and duplicate payments.