We customize the Scope of Each Audit based on Each Customers Needs
Straight Forward Audit with Minimum customer involvement
Your Audit Will Follow A Specific Process That we Use Depending on the Depth of Each Review
Audit Process
How it Works
We have a streamlined process for reviewing your invoices. These are the key steps of an initial audit.
Engagement Letter is Signed
We has a short engagement agreement that defines the scope of the services and identifies all fees for the service.
Past Invoices Sent to Jet Auditors
We will send you a secure link to upload all your previous management company invoices and mangement agreement for us to review.
The initial review is done by our team to make sure we have all the documnets that we need.
Initial Review is Conducted
Once we receive the invoices we will begin initial review of both the management agreement and the management invocies.
We begin by reviewing your management Agreements and previous invoices
Questions & Backup Documentation are Compiled and requested
After the initial review is completed, we compile a list of questions and requests for additional documents for the management company. This is usually where the client introduces us to the management company
Review of Preliminary Findings with Owners Team
Once we receive the answers to our initial and follow up questions we compile a list of potential discrepancies that we share either first with our Client or sometimes directly with the Managment company.
Discrepancies Sent to Management Company
Once we identify the discrepancies, either we can take them to the Management company or the Client can handle the discussion directly. Most clients allow us to handle this phase but it depends on what type of engagement is selected in the start of the process.
Review Management Company Response
If appropriate we will interact with any questions the management company has about the discrepancies and arrange for credits to be given to the client.
Sometimes Manaement COmpany SHares additional information that may remove the item from the discrepancy list.
Review Meeting with Recomendations
Once the past invoice review is complete we deliver our discrepancy list and offer to meet with the client to make recommendations about next steps on what findings we uncovered.
Follow up Audits generally reduce the amount of errors since they expect that the invoices are going to be more deeply reviewed.
Most Audits Identify Significant Savings
Regulare Audits are just good financial discipline
