Invoice finance audits, surveys & verifications
Receivables finance audits.
Evidence, not impressions.
Independent, confidential audits of your clients, written for invoice financiers by auditors with over 20 years in receivables finance. We test the ledger against the paperwork and the bank, so you fund with confidence and catch problems while they are still small.
- Pre-invoicingYes · 2 of 25
- Contras1 found
- Crown creditor arrearsNo
- Debtor concentrationWithin limit
- Banking direct paymentsNone seen
What we do
Due diligence on your clients and prospects, from one visit to the whole diary.
One audit when you need it, or your whole programme handled for you. Every report leads with the answer, so your credit committee can act on it the day it arrives.
- 01 Invoice finance audits
On-site, remote or desktop review. We test your client's ledger, paperwork and bank against your facility, and find pre-invoicing, contras and diverted cash.
- 02 Prospect surveys
Before you fund: how a prospect really trades, its ledger, its debtors and its financial strength, on-site or remote.
- 03 Debtor & documentary verification
Balances confirmed with the debtor, or invoices proved against their delivery notes: the right test for the question you have.
- 04 Your audit diary, outsourced
Hand us the whole programme. We schedule, chase the paperwork, carry out the audits and report on time, so no audit slips.
Audits Hub
Every report, every document, every action point, in one place.
Request an audit, follow it to the day, and read the report online or as a PDF. Your client sends its paperwork through a secure link, and every document is read and checked against the figures it supports.
Findings become action points the moment the report is released, so nothing waits for the next audit to be noticed.
- Invoice: amount, date, referenceAgrees
- Purchase order: customer, quantitiesAgrees
- Delivery note 1 of 2: date2 days after
- Delivery note 2 of 2: line 218 cases short
What financiers say
Reports financiers can act on.
The reports provided are of an extremely high standard. All areas of business including particular issues relating to the industry are clearly identified and explained.
The reports are exactly what we have been looking for and they easily allow us to focus on key issues.
The turnaround time on the last-minute surveys has been extremely impressive – we will definitely keep using On Business for due diligence needs.
How it works
From request to report, in five steps.
- 01
You request
Use our booking form, call us, or request it in one click in Audits Hub.
- 02
We arrange
We agree a date with your client, discreetly, and send the list of what we need.
- 03
Your client sends
Ledgers, statements and paperwork arrive through a secure upload link.
- 04
We audit
On-site, remotely or at the desk, testing every figure against its evidence.
- 05
You read the report
Reviewed before release, then online in Audits Hub and as a PDF.
Latest insights
All insightsBefore you fund: what a prospect survey tells you
A credit report tells you how a company has filed and paid. A survey tells you whether its ledger can carry a facility. The questions are different, and the second set is the one a financier is lending against.
Pre-invoicing: what the proof of debt gives away
An invoice raised before the goods have left, or for more than was delivered, is funded money with nothing behind it. The paperwork usually shows it, if you put the documents side by side.
Contras: when your debtor is also your client's supplier
A company that buys from your client and also sells to it may never pay the full balance on your ledger. It will set off what it is owed. Finding contras is simple in principle and easy to miss in practice.
Book an audit
Need an audit soon?
Tell us about the client and what you need in one short form, and we arrange the rest. Your client hears nothing until you are ready. Already in Audits Hub? Request it there in one click.
- 01
Tell us the client, the kind of audit and when you need the report.
- 02
We confirm what we will do before we contact anyone.
- 03
We arrange the date with your client, discreetly, and keep you posted in Audits Hub.
FAQ
Questions financiers ask us
Who do you audit for?
UK invoice financiers: factoring, confidential and disclosed invoice discounting, and asset-based lending. We audit their clients, survey their prospects, verify debtors and run whole audit programmes for them.
Why outsource audits rather than keep an in-house team?
An outside auditor has no relationship with your client to protect and reports what it finds. You pay for the audits you need, without keeping a team for the busiest month of the year, and you get the experience of auditors who have worked in receivables finance for over 20 years.
Is the audit confidential, and will my client's debtors know?
Everything we see is confidential to you. Debtors hear nothing unless you ask for a balances verification.
How do I book an audit?
Fill in our booking form, call us on 020 4614 5944, or, if you use Audits Hub, request it in one click from the client in Audits Hub.
How will I receive the report?
Online in Audits Hub, with every document behind it and each figure beside the last audit's, and as a PDF in your own branding to send to your credit committee.
Train your team on what we find.
On Business Training's digital learning libraries teach fraud detection, credit control and financial statements to people at financiers and their clients.