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The Audit Process

Audit Flow Chart

A CRS Lease Audit involves a step-by-step process that insures a thorough review and analysis of all lease-related billings for compliance with the terms and conditions of the lease.

Pre-Audit CRS will work with the Client to review the lease portfolio; define locations to be audited; establish basic procedures, lines of communication, and a time schedule for the work.

Preliminary Review During the Preliminary Audit Review or "Desk Top Audit", CRS will thoroughly review the Audit File and for each location, will prepare analyses, identify potential irregularities, and submit a report with recommended actions to be taken ("Preliminary Audit Review Report").

Audit The respective landlord will be contacted by CRS, with Client's full knowledge and prior approval, to investigate, validate, and/or resolve any potential claims for overcharges. CRS will provide all necessary actions and correspondence to accomplish the following:

  • Inform landlord of certain potential claims and request specific information and records.
  • Perform field audit of landlord records where recommended by CRS and approved by the Client.
  • Survey site conditions, where appropriate.
  • Conduct an in-depth audit of records and an issue-by-issue analysis of each potential claim.
  • Where appropriate, conduct preliminary settlement discussions with the landlord.

Resolution of Claim The resolution of a claim, once identified, usually requires the most time and it is at this juncture that Clients most rely on CRS to devote its resources and experience, including the direct involvement of principals as counselors and negotiators.

Audit Closeout & Follow-up Lease Audit savings may take many forms and often involve future credits and adjustments. The results achieved today may be eroded quickly by other adjustments a landlord makes to its property management practices as a result of the audit.

Once the audit is complete, CRS will prepare a final Status Report identifying total savings for the project and a schedule of follow-up activities that may be required to insure that the savings are fully realized over time. CRS will continue to monitor leases and expenses as necessary going into the future to protect and verify savings.