Internal Audit
Recovery Audit
Since 20179 Since 2017
- Money already spent
- Duplicates and overcharges
- Recovery pursued
Talk to an auditor
Tell us what prompted the question and we will tell you what an audit would actually examine.
- Reply in 24h
- FTA approved
- Direct to a specialist
In one line
Money already paid out that should not have been, found and recovered.
Overview
Recovery Audit in UAE
Recover extra payments and streamline your finances using the recovery audit services offered by Vigor in UAE. In our experience one of the best ways to recover overpayments is via a systematic approach where we review transactions and reclaim dollar for dollar against any missed supplier terms or under-deductions
- 5,000+
- Clients served
- 75+
- Professionals in Business Bay
- 9
- years, since 2017
This one is usually asked for after
01
High volumes of supplier invoices processed at speed
02
Duplicate payments, missed credits or unapplied discounts are suspected
03
A contract has terms nobody has checked the invoices against
Detail
How Does Recovery Audit Work in the UAE
Our audit services access these payment details as well as all supportive data, like arm-findings in order to pinpoint potential overpayments or under-deductions. The moment these irregularities are discovered, we scramble to get back every penny lost from mishandling of disbursement.
We have an expert audit team at Vigor that provides recovery audit services in the UAE with maximum results for our clients.
Decades of Gulf experience means your financial health is in safe hands. We guarantee great flexibility in recovery audit services and strive for perfection to make sure that our clients are satisfied with the results. Find and take back your profit with Vigor. Contact Us Today!
Why Choose Vigor?
No matter if your business is small, medium or a large organization Vigor helps you to make sure all of them are effectively utilized towards the course in which you would like to take going forward. We have our standard packages which are most economical and systematic, that helps to make the best use of your resources at the largest network base in DUBAI FOR AUDITORS.
Services in Vigor Recovery Audit, UAE
Overpayments
Currency and pricing errors
Duplicate payments
Unclaimed cheque
Tax- Avoidance
Detection of hidden risks
Recovery of lost revenue
Detail
Features of Recovery Audit in UAE by Vigor
Certified Professionals
We are Professionals, We Deliver Results
Statement Audit
Records Review
Why it matters
Why recovery audit matters
Our team of professional accountants and auditors at Vigor pour over your business information, investigating every transaction to find discrepancies. A complete recovery audit ensures that all the lost investments are recaptured and financial mistakes are rectified. A lot of entrepreneurs lose heavily on account of financial mistakes: Under-deductions, Overpayments, Allowances and Compliance to name a few. With a team of hand picked individuals that are masters at what they do, who take pride in recovery amounts up to and even surpassing 100%, while minimizing the material anomalies against your profit.
- High volumes of supplier invoices processed at speed
- Duplicate payments, missed credits or unapplied discounts are suspected
- A contract has terms nobody has checked the invoices against
How it runs
From terms of reference to follow-up
Phase 01
Scope and terms of reference
What is being examined, what it is being measured against, and who receives the findings. Agreed in writing before anything begins.
Phase 02
Walkthrough and testing
The process as documented, the process as performed, and the gap between them. Sampled where volume makes full testing pointless.
Phase 03
Findings and management response
Every finding rated and put to management before it is written up, so the report contains the answer as well as the problem.
Phase 04
Report and follow-up
A report the board can act on, with owners and dates against each action, and a follow-up to confirm what actually changed.
Phase 1 of 4
Scope and terms of reference
Before we start
What we will ask you for
Tick what you already have
Most companies have more of this than they expect. Nothing here is sent anywhere.
Also in internal audit
Not sure this is the one you need?
Eleven audits is a lot to choose between from the outside. Three questions and we will point you at the right one.
Question 01 of 03
What has prompted you to look at this?
Select only one
Government Agencies
We work closely with all Government Agencies
Company formation, licensing, visas, customs codes and tax registration all pass through these authorities. Start a company setup.
Answers
Questions asked before an internal audit starts
The 6 asked most often about Recovery Audit.
01Is a recovery audit a legal requirement in the UAE?
No. A recovery audit is not a statutory requirement under UAE law, unlike VAT or corporate tax filings. It is a voluntary internal review carried out to identify overpayments, duplicate payments, missed discounts and vendor overcharges. Businesses typically commission one to recover lost funds and tighten payment controls, particularly after periods of rapid growth or system changes.
02How much does a recovery audit cost in the UAE?
Recovery audit fees depend on the size of your accounts payable ledger, the volume of transactions to be reviewed and the period covered, so they are quoted after a proposal rather than published as a fixed rate. Get in touch with your transaction volumes and review period and a firm quote can be prepared.
03How long does a recovery audit take?
Timeframes vary with the size of the business and how far back the review needs to go, since older records and multiple vendor accounts take longer to reconcile. A focused review of a single financial year can often be completed within a few weeks, while a multi year audit across several entities will take longer.
04Which businesses benefit most from a recovery audit?
Any business with a high volume of vendor payments, complex procurement processes or multiple entities is a good candidate, since these conditions increase the chance of duplicate payments and missed credits going unnoticed. Whether it makes sense for your business depends on your transaction volume and how long it has been since your accounts payable process was last reviewed.
05What documents do I need to provide for a recovery audit?
You will generally need to provide accounts payable ledgers, vendor invoices, purchase orders, payment records and contracts covering the period under review. Bank statements and any existing reconciliation reports also help speed up the process. The exact list depends on how your accounting records are kept and the scope agreed for the audit.
06What does a recovery audit actually check?
A recovery audit reviews payment records against invoices, contracts and purchase orders to identify duplicate payments, pricing errors, unclaimed discounts and vendor overcharges. It also looks at whether internal controls allowed these errors to occur, so the findings usually come with recommendations to prevent recurrence rather than just a list of recoveries.
Not here? Ask Vigor, and a specialist picks it up from there.
