Accounts Payable Audit Services
Talk to Dimov Audit. Tell us about your AP process and we'll show you where an independent review would strengthen it. No obligation.
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“Dimov Tax showed remarkable professionalism, dedication, and attention to detail throughout the entire audit process. Despite a very tight deadline on our end, they managed to deliver the completed audit (US GAAP) in due time, ensuring a seamless and efficient experience for our organization. Their efforts have made a significant impact on our company, and we eagerly anticipate continuing our partnership.”
Marina Alexandra Ion
Why Accounts Payable Deserves More Attention
Most companies watch revenue closely but spend little time on how money leaves the business, and that’s usually where problems start. Accounts payable run through many hands, high transaction volumes, and real cash movement, so when controls are weak, errors and fraud can go undetected for months or even years.
We’ve seen businesses uncover duplicate vendor payments, unauthorized purchases, and approval processes that existed only on paper, usually a result of thin oversight rather than bad intent.
An accounts payable audit gives these processes an independent review and surfaces the weak points before they become costly.
Outcomes
What an Accounts Payable audit delivers
Organizations that conduct periodic AP audits typically benefit from:
Reduced Financial Losses
Errors and duplicate payments can be identified and corrected.
Stronger Fraud Prevention
Improved controls reduce opportunities for internal and external fraud.
Better Vendor Management
Accurate vendor records improve payment accuracy and relationships.
Improved Compliance
Organizations can demonstrate adherence to internal policies and procedures.
Greater Operational Efficiency
Streamlined workflows reduce administrative costs and processing delays.
Warning signs
Common issues we find during AP audits
Certain patterns appear repeatedly across organizations of all sizes.
Duplicate Payments
The same invoice may be paid twice because of data entry errors, invoice resubmissions, or inconsistent controls.
Vendor Master File Problems
Inactive, duplicate, or incomplete vendor records can increase the risk of payment errors and fraud.
Unauthorized Purchases
Employees sometimes bypass approval procedures, resulting in expenditures that were never properly reviewed.
Missing Supporting Documentation
Invoices, purchase orders, contracts, or receiving records may be incomplete or unavailable.
Weak Segregation of Duties
One individual may have authority to create vendors, approve invoices, and release payments.
Late Payments and Process Inefficiencies
Poor workflow management can create unnecessary penalties, strained vendor relationships, and operational disruption.
What we review
What an Accounts Payable review covers
Our review typically includes the following control areas.
Vendor Management
We evaluate vendor setup procedures and review vendor master file accuracy.
Invoice Processing
We test invoice approvals, coding accuracy, and supporting documentation.
Payment Controls
We assess check issuance, ACH controls, wire transfers, and approval procedures.
Transaction Testing
We examine selected payments for accuracy, authorization, and policy compliance.
Internal Controls
We evaluate segregation of duties, approval workflows, and fraud prevention measures.
Process Efficiency
We identify opportunities to streamline operations and reduce administrative burden.
See where your controls stand
Talk to Dimov Audit about an independent review scoped to your AP process.
Tell us about your AP process and we'll show you where an independent review would strengthen it. No obligation.
How it works
Our AP audit process
A clear process. Stronger controls. Greater confidence.
- 01Step 1
Initial Consultation
We discuss current AP procedures, transaction volumes, and key concerns.
- 02Step 2
Document Collection
We gather invoices, vendor records, payment data, policies, and supporting documentation.
- 03Step 3
Transaction Testing
We perform detailed testing of payments, approvals, and vendor activity.
- 04Step 4
Internal Control Review
We assess control effectiveness and identify potential vulnerabilities.
- 05Step 5
Findings & Recommendations
We document observations and provide practical recommendations.
- 06Step 6
Final Report
We issue a clear report outlining findings, risks, and suggested improvements.
Why choose Dimov Audit
Why organizations choose Dimov Audit
An accounts payable audit is one of our most requested internal audit services, and it takes both technical expertise and practical business understanding. Our team strengthens your controls without creating unnecessary operational disruption.
1,000+
audit and assurance engagements completed
50
states served, nationwide coverage
14+
average years of experience per senior staff member
AICPA
peer-reviewed firm
Small weaknesses become expensive problems.
Over time, small accounts payable weaknesses can create substantial financial losses and increase fraud risk. An independent accounts payable audit helps identify those risks early, strengthen controls, and improve confidence in your financial operations.
Scoping
Scoping a vendor payment audit
Every engagement is scoped to your business, so the cost tracks your transaction volume, the number of entities and systems involved, and the overall complexity of your accounts payable controls.
You get a clear quote before any work begins, with no surprises.
Contact
Connect with Dimov Audit
Our dedicated team is ready to assist you on your path to financial success.
211 E 43rd St Suite 628
New York, NY 10017
United States
Accounts payable audit FAQs
Are your financials audit-ready?
Are Your Financials Audit-Ready?
At Dimov Audit, we pride ourselves in quick communication, accurate work, and seamless delivery.