Debt collection audit

Service Description

A debt collection audit is the process of assessing a company's or organization's debt collection efforts. The main goals of a debt collection audit are to identify potential irregularities in the debt collection process and assess the effectiveness of ongoing efforts. Document and Procedure Analysis: Our auditors verify that your company is implementing appropriate procedures and documenting all stages of the debt collection process, including contacting debtors, sending payment reminders, obtaining payment confirmations, and more. We verify that your company complies with applicable laws and regulations governing debt collection, including data protection regulations (GDPR) and other regulations related to debt collection. We also review the measures and strategies your company is using to recover receivables. This includes assessing the effectiveness of actions such as filing a lawsuit, negotiating with the debtor, purchasing debts from other creditors, and more. A debt collection audit also assesses the risks associated with debt collection, including the risk of impairment of receivables, compliance risks, and other potential risks.