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Case Studies

No fraud

Audit confirms no fraudulent activity

A lender’s fears over potential fresh air invoicing were allayed after a recent audit uncovered a simple misunderstanding.

Concerns that the client had been raising fake invoices prompted the asset based lender to instruct Hilton-Baird Audit & Survey to conduct a reactive audit and ascertain the validity of the debt being funded.

We were able to attend site quickly to review the business, which was using an invoice discounting facility to support cash flow.

Our Business Analyst combined a Telephone Debt Verification exercise with extended invoice testing, and took a detailed look at the client’s invoicing procedure and ledger, which consisted of stage payments and contractual debt.

By proving the debt, we were able to confirm the client hadn’t done anything untoward and that it was a simple misunderstanding regarding the nature of the debt, giving the lender the confidence they needed to continue funding their client.

Our clients

  • GapCap
  • Secure Trust Bank
  • Factor 21
  • Close Brothers Invoice Finance
  • Investec
  • Leumi ABL
  • Bibby Financial Services
  • Woodsford Tradebridge
  • IGF Invoice Finance
  • PNC Business Credit
  • Ultimate Finance
  • Nucleus Commercial Finance

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