Payment & Tax Audits That Save Time & Money
How accurate are your vendor invoices? How often do relocation expenses deviate from policy? Our audits identify payment oversights and compliance issues to help employers save time and money.
What We Audit
Supplier contracts can be complex and prone to unintentional invoicing and payment errors. We audit invoices to service-level agreements, including eligible fees and fee schedules.
Our audits unveil occasional and ongoing policy compliance issues, as well as exceptions that go undocumented.
Proper tax coding and accuracy of tax calculations are crucial for relocation-related expenses. If errors are not caught until the next tax year, they can be timely and costly to repair.
No one audits like we do.
We know relocation expenses like no one else. It’s what we do every day, all day. Not only are we experts, but we offer a level of objectivity that cannot be matched. Orion Mobility never audits its own invoices and does not maintain financial partnerships with third-party vendors.
You determine the depth.
We can hone in on a specific vendor, policy, tax situation, employee population, etc. or you can audit everything line by line. Our team will work with you to determine the parameters and frequency so you get what you need from your audit.
How It Works:
|Define scope: What goals do you want to accomplish?||Conduct Audit: Monitor degree of error||Present Findings: Reports are customized, insights and recommendations are shared|
|Determine audit level:|
– Service fees only, all line items, etc.
– Percentage/number of files to audit
|If the error rate is 5%+, an additional audit is conducted||Monthly invoicing is broken down by division/department, etc.|
Stories from the frontlines:
Global Payments Made Right
We audited a global company's international payment history and discovered that they were losing money both directly and indirectly from hidden fees, currency exchange risk, and inefficient internal processes.
We were able to help our client leverage this information to negotiate a better deal with their bank and implement a new process to eliminate waste, which yielded an annualized savings of approximately $500K.
Red Flag for Invoice Fees
Our team discovered distinct red flags on a number of file fees submitted by a supplier. Upon examination, we discovered monthly fees were being applied to files that had been inactive for a number of months. This simple error stemmed from the supplier's system, which had not flagged the files as inactive and reoccurring fees continued to be invoiced.
While there were only a couple of dozen of inactive files, the costs added up quickly. A $300 monthly fee for 20 files resulted in $36K of erroneous charges over the course of six months.
Tax Category Trouble
An employer had numerous relocations but none of their mobility expenses included airfare. It turns out that the transferees were using corporate credit cards to book flights and the charges were being lumped into "travel expenses."
As a result, there was no process in place to audit the charges to the relocation policy nor designate them as employee income for tax purposes.
The oversight was discovered after the tax year ended and to rectify the situation, the employer had to painstakingly review all mobility-related expenses and issue a Corrected Wage and Tax Statement (W-2c) for every transferee. The time and cost implications alone were significant; the frustration felt among transferees was impactful.