APEX Analytix audit

Dear Valued Suppliers and Colleagues:

Signify Netherlands B.V. has engaged the audit firm, APEX Analytix, to review our global accounts payable activities and enhance our relationships with our partner Suppliers. This audit is commissioned by the Accounting Operations organization. Please note that this is not an audit of individual suppliers, but rather an audit of the accuracy of payments made to suppliers. The objective of this project is to isolate issues within the supplier interface and to identify business process improvement opportunities.

APEX Analytix has signed a non-disclosure agreement with Signify Lighting that prohibits it from disclosing any information obtained from suppliers or others within the course of the audit.

Specific questions relating to the audit may be answered by sending an email to Geoff May, Director of Audit Operations at APEX Analytix (gmay@apexanalytix.com). For Signify Lighting audits you may also contact Mary Condren (mary.condren@signify.com) & Wesley Nolan (wesley.nolan@signify.com).

Below is a list of Frequently Asked Questions which you may find helpful.

APEX Analytix Transaction Review: Frequently Asked Questions

What is the purpose of this audit?

The audit will look into the Supplier Invoice transactions Signify performs with its suppliers for the purpose of identifying and reconciling transactions and identifying payment errors.

What involvement is necessary from Signify personnel?

A vast majority of the audit work will be performed and coordinated by APEX Analytix. There will be some involvement from Accounting operations team. There may be additional involvement from Procurement and Operations personnel.

What involvement is necessary from Signify suppliers?

Most suppliers will have little/no involvement; however, there will be some contact initiated by audit team in order to conduct further research on cases and to reconcile transactions. In such cases, suppliers are requested to provide information related to billing history, payment posting, and invoice detail. The audit is focussed upon the entire paid history for Signify. This is not an audit of specific suppliers.

What is the scope of the audit?

The audit looks back to transactions 2018-present. In some unique cases, transactions beyond this timeframe may be reviewed by the audit team.

What has been done in Signify already?

Signify Lighting has engaged the audit firm, APEX Analytix, to review our global accounts payable activities and enhance our relationships with our partner suppliers. APEX Analytix auditors are engaged in ongoing, worldwide reviews for Accounts payables and have a global footprint.

What has been done on this project?

APEX Analytix team has received transaction data in an extract of historical transactions from Signify SAP system. The audit team has developed a customized transactions database and is now performing independent review and verification using Signify supporting documentation. APEX Analytix tracks all cases and client/supplier contact and reports to Accounting Operations on the progress.

APEX Analytix audit

Dear Valued Suppliers and Colleagues:

APEX Analytix Transaction Review: Frequently Asked Questions

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