Profit Search Inc., founded in its twenty-fourth year, provides recovery audit services to larger companies in the New England area. The company, owned and operated by Douglas Costello, CA MBA CAPP, is known for its data-mining and forensic accounting techniques to uncover discrepancies in invoices, tax returns, and vendor payments.
Services include duplicate payment detection, fictitious billing identification, and sales tax overstatement recovery. The firm emphasizes trust, confidentiality, and a 50/50 profit-sharing model with audit staff to ensure thorough and motivated audits. Clients benefit from both monetary recoveries and actionable insights to improve internal controls and prevent future errors.
Data mining software for duplicate payment detection
Forensic accounting techniques for fictitious billing identification
Contingency-based fee structure with no upfront costs
Actionable insights for improving internal controls
Services
Recovery Audit Services
Systematic examination of disbursement transactions to identify and recover overpayments, including duplicate payments, missed discounts, unrecorded credits, incorrect rebates, sales tax overcharges, unclaimed property, deposit monies not credited, and payments to the wrong vendor.
Data mining software for duplicate payment detectionForensic accounting techniques for fictitious billing identificationSales tax overstatement recoveryContingency-based fee structure with no upfront costsActionable insights for improving internal controls
Credentials & Certifications
CA
MBA
CAPP
Frequently Asked Questions
What is recovery auditing? +
Recovery auditing is the systematic process of examining disbursement transactions to identify and recover overpayments, including duplicate payments, missed discounts, unrecorded credits, incorrect rebates, sales tax overcharges, unclaimed property, deposit monies not credited, payments to the wrong vendor, and other issues.
Who is a suitable candidate for a recovery project? +
Generally, a company must have annual revenues of $100 million dollars to be a suitable candidate for a recovery project, as the percentage of mistakes is very small and a large population of payments is required to find enough mistakes to make a recovery project worthwhile.
How are recovery audit services priced? +
Recovery audit firms offer their services purely on a contingency basis, so there is no financial risk to a customer. The onus is on the recovery firm to find mistakes. If no money is recovered from the vendors, no fees are charged.
