One dot is one thousandth.
more than99.8%
of a municipality’s transactions were without remark. The discrepancies, just over 800, almost entirely concerned VAT compensation.
We review where others assume.
Why haven’t we done this before?
Since 2005, Refero has helped companies, municipalities and regions to discover financial discrepancies that might otherwise remain undiscovered.
We review historical transactions, value added tax (VAT), taxes, contracts and prices to verify that they have been handled correctly.
When we find discrepancies, we document them, help to recover funds and show how similar errors can be prevented.
We are normally paid out of the money we recover, as a share of what has been verified. The fee is always set out before work begins. How we are paid
over SEK 1.5 billion recovered · since 2005
How do you know that everything was done correctly?
What you seeWhat we examine
- VAT postingInput VAT deductions may have been missed
- Special VAT rulesVAT compensation may have been missed
- Invoice interpretationThe wrong VAT rate may have been used
- Calculation and roundingIndex or currency may have been calculated incorrectly
- Payment and contractsMay have been paid twice or above the contract price
An iceberg shows that only a small part is visible above the surface. Refero examines the underlying financial transactions. Examples of discrepancies are payments made twice, missed VAT deductions and prices that differ from the contract. The hidden part represents documentation that needs to be examined, not a proportion of errors. Discrepancies that can be found are grouped into five numbered areas, in the same order in the picture and in the list: 1. VAT posting: Input VAT deductions may have been missed. 2. Special VAT rules: VAT compensation may have been missed. 3. Invoice interpretation: The wrong VAT rate may have been used. 4. Calculation and rounding: Index or currency may have been calculated incorrectly. 5. Payment and contracts: May have been paid twice or above the contract price.
Refero in figures
over SEK 1.5 billion
recovered for clients
over 1,000
analyses
over 300
clients
20+ years
since 2005
Anonymised assignments
Most things can be right. There can still be a lot left to discover.
around3 of 4
invoices under a municipal service contract had no order number. The supplier largely kept to the contract.
What do you want to check?
01
VAT and transaction analysis
Paid twice? Incorrect VAT?
02
Price and contract compliance
Do you pay what the contract says?
03
Energy analysis and energy tax
Are you entitled to an energy tax refund?
04
Property and property tax analysis
VAT and tax on properties, reviewed.
05
Tailored analysis
Something else you want reviewed? We tailor it.
Are you procuring a financial review? Read about the procurement text generator
Three steps. Normally 2 to 5 hours of your time.
- 01
You give us read-only access
In most assignments, we extract the data ourselves.
- 02
We review
Normally 1 to 3 months per area.
- 03
You receive findings and knowledge
You get back what has been verified and you know where the holes are.
Frequently asked questions
What does an analysis cost?
It depends on the assignment. The fee is normally based on what has been verified and recovered, but there is also a fixed price. The fee is always set out before work begins. With a results-based fee, there is no fee if nothing is verified. The fee is paid out of the money that is actually recovered. There is no charge for the first conversation.
How much of our time does it take?
In most assignments, we are given read-only access and extract the data ourselves. Normally around 2 to 5 hours of your time.
Is this a statutory audit?
No. Refero does not carry out statutory audits. The work is the analysis and verification of historical financial flows.
Can you promise how much you will find?
No. We do not promise how much we will find. How much a review yields at your organisation depends entirely on your own records.
Do you wonder what we could find at your organisation?
There is no charge for the first conversation.