Invoice Audits

SOX Compliancy – it matters

Where relevant, companies have a reason to be concerned about SOX compliance. Because SOX is officially directed at publicly traded companies, most public companies require all their vendors to be SOX compliant. There is a comfort level that comes with using SOX compliant vendors, so it is only a matter of time until all companies, public or not, will require SOX compliant standards, such as invoice audits.

FleetVision adheres to a three-way matching, providing a “Source to Pay” Sarbanes-Oxley compliant audit trail. We will compare received invoices with current vendor terms and conditions, initial purchase order and invoice trail including ad-hoc charged costs. Our industry overview and in depth understanding of market practices boost our efficiency and deviation detection.

The audits are based on three principles:

  • Factual accuracy, i.e. what is the content (products and/or services) of the invoices
  • Contractual accuracy, i.e. is the invoice in line with the current supplier agreements
  • Mathematical accuracy, i.e. is the calculation of the invoice correct