The Orange Partnership approach is built on the accountancy profession’s experience of auditing financial information. It is based on best practice set out in the cost auditing standards recognised around the world.
It is risk based and it looks at costs as a whole, not just related to a single project. This enables us to spot duplicate payments and invoices and to focus on those areas where overpayments are most likely to be found.
This is in contrast to the traditional, substantiation or “bums on seats” approach still used by many non-accountants when providing cost assurance.
Darren and Phil take you through specific examples of how the substantiation approach fall short and misses issues: