Our collateral audits will address some of your key concerns whether what you have secured your loans with, actually exists or is of the value you thought it was:
- How collectible are those outstanding receivables?
- Do revenue recognition policies follow industry norms?
- When is the company entitled to payment during the performance of a contract?
- Are the numbers on the AR aging accurate?
- Is all the AR being reported?
- Do those customers exist?
- How much of aging is bad debt?
- How fast is the inventory selling?
- Is the inventory in sell-able condition?
- Does all the inventory reported, exist?
- Do the books represent the sell-able value of the inventory?
- How is the inventory being safe-guarded?
- What are the policies for recording inventory once purchased?
Property & Equipment
- Does the reported property & equipment exist?
- What controls are in place to protect the property & equipment?
- When was the last time anyone has actually seen the property & equipment?
- Is it all still in useful condition?
- What is the current value of the property & equipment?