Contract Compliance Audit

Increase Third-Party Transparency,
Efficiency, and Savings

Organizations invest significant time and resources to find trusted partners to provide value-added services, yet often struggle to govern contracts to validate the accuracy of ongoing relationships. Even a fraction of a percent of profit lost to overspend, inefficient or manual processes, lack of value for money, or fraud can amount to millions of dollars. SC&H professionals execute risk-based contract compliance audits of vendor and supplier relationships to:

  • Measure Contract Effectiveness

  • Improve Profitability

  • Verify Supplier Charge Accuracy

  • Help Align Stakeholders

  • Enhance Governance

  • Strengthen Contract Language

  • Mitigate Risks

  • Optimize Business Processes

Dive Into the Details of Your Contracts

Implement a risk-based contract compliance audit program to optimize third-party relationships, mitigate related risks, and monitor ongoing performance. We help procurement and stakeholders achieve business objectives and maximize their bottom-line through:

Direct and Indirect Spend Audits

Recover overpayments through greater transparency and contract alignment. Our team works to identify inadvertent errors, reduce transactional risk, strengthen long-term supplier relationships, and monitor compliance.

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Third-Party Risk Management

Understand risk indicators related to people, data security, data privacy, process design, and effectiveness, and policy compliance. We analyze financial, operational, cyber, privacy, and strategy risk to identify and mitigate potential exposures.

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Construction Audits

Engage stakeholders throughout your CapEx project lifecycle to validate contract compliance, mitigate contractor risks, enhance processes, and strengthen internal controls associated with significant enterprise investments.

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Shutdown and Turnaround Audits

Navigate large-scale manufacturing and refining shutdowns, turnarounds, and outages with smart contracts and monitored contractor compliance aligned with set terms and conditions to maximize quality, affordability, transparency, and ROI.

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Accounts Payable Recovery Audits

Identify overpayments, detect risks, resolve unrealized credits, recover residual funds, and bolster financial performance with computer-assisted audit techniques, carefully conducted research, and a thorough examination of supplier records.

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Royalty and Licensing Audits

Identify under-reported sales, omission of products from royalty calculations, non-compliant deductions, or formula errors that can lead to incorrect payments to enhance earnings, improve processes, and identify opportunities to strengthen contract language.

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Form I-9 Audits

Minimize risk and avoid significant penalties with regular Form I-9 reviews to ensure that your organization is prepared and protected from compliance transgressions and upholding regulatory and contractual obligations.

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Forensic Data Analysis and Data Mining

Quickly and accurately expose potential fraud, waste, or abuse. We examine data sets against broad, specific, or combined criteria to identify irregular transactions and detect potential errors.

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Contract Management

Proactively and consistently monitor contract compliance in real-time to ensure the effectiveness of operational and financial controls, optimize third-party relationships, and enhance the value of your contracts.

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Partner with Certified, Experienced Professionals

Our professionals bring more than three decades of industry experience implementing, designing, and executing effective global third-party contract compliance audit programs for Fortune 1 to Fortune 500 companies in over 25 countries. Work with our dedicated team to gain an objective, data-driven analysis that meets your business requirements and establishes accountable, transparent relationships between your organization and its third-party suppliers spanning multiple industries.

  • Oil & Gas

  • Technology

  • Manufacturing

  • Pharmaceuticals

  • Healthcare

  • Nonprofits

    Nonprofit

  • Retail

  • Insurance

Empower Your Organization and Optimize Business Performance

Having an effective, mature contract compliance audit program will enable your organization to achieve higher cost savings, mitigate risk, and increase supplier transparency.

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Why SC&H Group?

Our team maintains steadfast audit teams throughout the project to ensure continuity and world-class client service. With an intimate understanding of your unique processes, we’re able to offer informed recommendations that deliver short- and long-term success. All key engagement team members are Certified Public Accountants (CPAs), Certified Internal Auditors (CIAs), and/or Certified Fraud Examiners (CFEs). Our services are supplemented by a full-service management consulting, tax, technology advisory, and risk management firm at SC&H Group, which fosters a unified approach and all-encompassing services to meet all your business objectives.

Learn About Our Contract Compliance Audit Practice And What We Can Do For Your Business

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