Overpayments cost our client £33,000+
Our client approached us to review one of their current stores as the current Landlord had sold the property and the new Landlord appointed their own Managing Agent.
To reconcile the clients payments and obligations with payments made to the previous and current Landlord.
As the previous Managing Agent was no longer managing the property, they were not corresponding with the audit team with any sense of urgency. Even with the persistence of the audit team the recovery took a total of 3 months.
The audit team carried out a review of the store and highlighted that the previous Managing Agent had allocated overpayments on account against invoices that had previously been cleared by the hand over completion statement.