The complexity of today’s customized goods and services contracts makes it extremely difficult for suppliers to bill accurately and even more difficult for consumers to verify the accuracy of billing prior to payment. More time is typically spent on the negotiation of goods and services agreements, than on the verification of recurring billing thereafter. As such, billing errors can be rampant and extensive, costing your organization significant money over the life of any agreement. To combat these issues and assist in, Trans Audit’s Contract Compliance Audits ensure that resultant billing complies with industry practices and all negotiated contractual terms and provisions.

Our Contract Compliance Audit Process

Our Contract Compliance Audit services ensure the accuracy of expense generating agreements and their resultant billing transactions via:

• Preliminary analysis of historical expense data to identify primary suppliers and expense categories with the greatest potential for cost recovery and reduction
• Collection and initial review of contract terms and conditions for selected suppliers
• Review of client’s relationship with selected suppliers to identify sensitivities and ensure support and desire to pursue refunds
• Mutual confirmation of primary suppliers for review
• Collection and review of invoices and sub-invoice data and records for selected suppliers
• Detailed line-item analysis and review of invoices, payment records, purchase orders, and other billing support documentation
• Confirmation that contract provisions and industry standards have been accurately applied to your billing
• Identification, substantiation, and submission of overcharge claims to applicable suppliers
• Identification of cost reduction and contract improvement opportunities
• Direct negotiation and settlement of overcharge claims with suppliers
• Cash refunds of overpayments are expeditiously recovered and all credits are received and utilized Supplier refunds and credits are received in totality and truly reflect your full entitlement