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RETAIL CLEARING HOUSE AUDIT PROGRAMS

(Recommended to be performed on an annual basis)

Approximately 88% of all manufacturer payments made for coupon redemption's are paid directly to retail clearing houses or processed through third-party billing services on behalf of their retail clients.  The only way to verify that these payments are subsequently paid to the retailers is through a cost-effective audit program.

The objective of an audit program of retail clearing houses is to ascertain that the clearing house maintains adequate accounting records and documentation to verify payment to the retailer.  The audit ensures that the clearing house has complete and accurate recording of transactions, has procedures in place for retailer verification and that the clearing house is in secure financial condition.

James Santella has performed over 400 audits on behalf of several Consumer Packaged Goods Manufacturer's including the Nabisco Foods Group, Coca Cola USA, The Minute Maid Company, Kraft Foods, Quaker Oats, ConAgra, Pillsbury, Kimberly-Clark, Frito-Lay, Inc., R.J. Reynolds Tobacco Company, Pepsi-Cola USA, Reynolds Metals, Ocean Spray Cranberries, Swift-Eckrich, Carnation and Topco Associates.

We customize our services to meet your specific needs and our fees are quoted on that basis.  We also have a reduced fee structure for audit programs consisting of five retail clearing house audits as well as a two year audit program consisting of ten retail clearing houses.

We perform the audits on a timely and cost-efficient basis and have a proven track record of providing our clients an environment where accountability for coupon promotions can be maintained throughout the liability cycle of the promotion.

Key Benefits of an Effective Retail Clearing House Audit Program

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Identifies potential fraud and security problems.

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Verifies that the coupon submissions were received from the retailers and that proper payment was subsequently paid to the retailer.

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Evaluates internal controls and accounting procedures.

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Identifies possible causes for coupon related invoice deductions to the manufacturer from retailers and suggests recommendations for procedures to reduce invoice deductions and chargeback fees to the manufacturer.

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Last modified: November 06, 2008