Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Carlos Gomez, an audit manager and one of the faces of the PKF Texas Contract Compliance Services team. Carlos, will come back to the Playbook.
Carlos: Thanks, Jen.
Jen: Carlos, in previous editions we’ve talked about vendor management audits. What are those and how do those help a company in this type of situation?
Carlos: Typically, our clients benefit from having some visibility into their vendors with a vendor audit. It will help you identify any key issues and maybe recover some expenses that you happened to lose that weren’t in line with the agreement.
Jen: So, how does a vendor audit actually work?