Questions and Answers

Questions and Answers relating to Audit Services:

What cost centres do Profit and Process make recoveries in?

We review historic financial transactions relating to property expenditure and pursue recoveries of over payments or failures to recharge costs to third parties. Recoveries are pursued within the following cost centres:

* Rent, service charge and insurance payments or receivables
* Business Rates liabilities
* Council Tax liabilities
* VAT recovery and accounting
* Utility costs

What are typical reasons for overpayments?
Examples of reasons for overpayments are lack of knowledge, insufficient checks in the payment cycles, pressures on staff levels, changes in personnel, dated systems, company mergers and acquisitions and human error

What are the benefits to the client?
The benefits are two fold:
1. Increase in unbudgeted cash savings direct to the bottom line of the client’s p & l
2. Report, discuss and assist with practical suggestions for improving property related payment and charging processes

What information do we require from the client
Most information we require is held on client’s systems and can be downloaded relatively simply and normally into Microsoft Excel. Initially we require a download of payments and receipts and a portfolio list

How much money will you make the client?
This depends on the size and nature of the property portfolio and how far back records are held. After an initial meeting with prospective client’s, we will have an idea of whether there are recovery opportunities and an indication of anticipated recoveries.

What are the fees?
We do not charge a fee for initial consultation to determine whether an audit would be viable. We only charge a percentage of any cash savings we achieve for the client. Our fees are charged on a “no win no fee” basis and therefore our fees are entirely self funded. No fee is levied on future savings.

What is the process for billing?
The billing period is agreed with the client but we only bill once the client has banked or received the cash benefit of any savings we have identified.