Audio Conferences

Understanding Recovery Audits: Finding, Recovering and Eliminating Erroneous Payments

August 12, 2008 at 02:00PM ET

Some companies have never had an Accounts Payable Profit Recovery Audit. Others have made recovery audits a key part of their regular processes.

But, even those organizations that do regular or continuous audits often find and recover only a small percentage of what they should.

While the recovery audit industry typically refers to an error rate of one tenth of one percent, recoveries can often be 5-20 times greater!

Find out where to look to significantly increase your recoveries and raise AP’s profile and its value to your organization.

Join IOMA and popular AP expert Jon Casher, APM, for a practical, insightful program designed to make you re-think the value of recovery audits, your existing recovery audit procedures, and how to add significantly more to your organization’s bottom line.

In 90 minutes, you'll learn:

The 90/10 rule and how you can use it to identify most erroneous payments before the funds are disbursed.
How to assign and enter invoice numbers.
The patterns you should look for to find problems.
When and where extra controls can and should be put in place.
How to find and eliminate the main sources and causes of erroneous payments.
How to recover funds quickly with little effort.
Wording that should part of your standard supplier agreement to significantly shorten the recovery process.
Over 20 specialty audits that you may want to consider doing.
Where to get information about nearly 100 Payment Recovery Audit firms
Ten questions to ask when selecting a recovery auditor.
The advantages and disadvantages of various pricing methods used by auditors.
What you need to know about pre-audits, post-audit and second-pass audits.
What types of transactions should be off-limits.

FEATURED FACULTY

Jon Casher
President, Casher Associates, Inc. and Sr. Consultant, IOMA

For 18 years as co-founder and Chairman of RECAP, Inc., one of the leading Payment Recovery firms, Jon led initiatives to introduce new and innovative approaches to find, recover and reduce erroneous payments. Many of the practices that were first implemented by RECAP are now common industry practice.

Draw on Jon's experience working with several hundred accounts payable and procurement organizations. He has many insights into what your company should do itself, how to work with Recovery Audit firms and ideas for type of recoveries you may not have considered.

Purchasing

AP Certification

Receive 1.5 CEUs toward APM, APS, or APD recertification! About the Accounts Payable Certification Programs: The new credentialing plan is designed to establish standards for the profession and recognize accounts payable professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the accounts payable body of knowledge.