Do You Need An Audit?
Most of our clients ask this question, usually followed by one or more of the following statements:
We have a very sophisticated computer system and software package.
We have a very competent staff and a low turnover rate in our department.
We have had the service performed within the last 2 - 3 years.
Virtually every client has made one of these statements in the early stages of our relationship and in almost every case we have found substantial savings through the use of our service. The key point we would like to stress is that every system, regardless of its sophistication, contains some human error. If your system is 99.9% efficient, you are losing $1000.00 per one million of payables. Imagine a 4 to 6% loss!
The real issue is one of convenience and eliminating the hassles, perceived extra work and when to schedule the service in an already hectic environment. The fear outside auditors can generate is also an issue. We are very aware of these concerns and strive to provide a complete service including follow-up so we do not leave an already over-burdened staff any extra work. Our job is not to point fingers or disrupt your staff members. Our job is to provide a professional check of your system and to provide each staff member and management with information which will make the entire department more accurate and efficient.
What will my staff think about an accounts payable audit? Your staff may feel threatened and or somewhat intimidated by outside auditors at first. After we have been on-site 1 to 2 days, the staff generally relaxes and realizes we are there to find problems within the system and not with specific individuals.
The Accounts Payable Manager may have a similar reaction and will probably feel that we may leave him/her with a lot of extra work and perhaps wreak havoc upon the files. We assure you that neither will occur and our references and past performance will confirm this statement.
The one thing that every staff member is concerned with is operating efficiently and saving his/her firm money. Our service is aimed at helping you and your staff do just that!
What if I'm engaged in a large project; internal audit, computer system installation, fiscal year end, budget planning, hiring, etc...? We have encountered no problems working in an Accounts Payable department that has a major project or change taking place. As a matter of fact, it probably happens more times than not!
Correcting system errors and saving money in the Accounts Payable Department is a lot like plugging leaks in a ship at sea. It's a priority! We can help add dollars to your bottom line and work around any project you may have in progress!
Please be sure to ask our References about:
How much client staff time is required for an Accounts Payable Audit?
Were interruptions of client staff a problem during the audit?
How much follow up was required by client staff after the audit?
What condition did Eagle Associates leave the files in after the audit?
The overall value of an accounts payable audit.
The professionalism of Eagle Associates staff.
Eagle Associates recognizes that it's a competitive world and that you have numerous choices when selecting an Accounts Payable Audit firm. We believe asking the appropriate questions when speaking to our references will narrow the choices and simplify the selection process.