Revenew
aicpa.org

Our Contract Compliance audit programs help to ensure that contracts are adhered to – with improved results. This allows our clients to dedicate additional time and resources to negotiate and implement their contracts. Following an agreement’s execution, limited time, resources and information are available to confirm that its commercial terms are accurately translated into billing and payment transactions. Further, errors are difficult to identify unless a detailed line-item analysis of contracts, invoices, payment transactions and purchase orders is conducted.

A contract audit can encompass a number of leading expense categories such as outsourced services, staff augmentation, contractors/construction, engineering, third party labor, technology, equipment, software, raw materials, environmental services, maintenance, auto/truck fleet, security services and much more. For major initiatives such as facility upgrades or new construction, a dedicated resource is assigned to our client’s team and can work full time, on site, over the life of the project.

"Revenew understands how important our supplier relationships are and works to ensure those relationships are maintained."

A Superior Review Process

We conduct a thorough review of all expenditures, including the individual review of selected agreements with key suppliers and contractors. Cost reduction and contract improvement opportunities are presented, along with the identification and recovery of overpayments and business concessions that translate to prospective savings. We also work to identify the associated root causes of non-compliance and recommend opportunities for process improvement.

  • Transparency into supplier billing practices
  • Hard dollar recovery of overpayments
  • Removal of inaccurate charges from future billing
  • Implementation of cost reduction strategies
  • Improved contract terms and conditions
  • Enhanced supplier relationships
  • Complete confidentiality and protection of all information

Review Methodology

Typical Approach
Price verification against PO's, contracts and price list
Little or no supplier interaction
Just one auditor from start to finish
Work performed in-house
Revenew's Approach
Due diligence and best candidate selection
In-depth review of all commercial terms
Dedicated team of specialists employed:
- Account Manager
- Due Diligence Expert
- Planner
- IT
- Senior Planner/Quality Control
- Auditor
- Project Manager/Quality Control
- Settlement Expert
Work performed "on-site" at supplier offices
Over 140 review tests performed
All components of each invoice line item analyzed:
- Cost-based pricing validation
- Personnel classification and labor cost build-up
- Payroll tax reconciliation
- Incorrect mark-ups/margin
- Incentives, discounts, rebates, cost sharing
- Third party charges/reimbursables
Assistance with negotiation and collection