Below are examples of findings taken from field exams performed by ECG:
- Recommended $4,983M in ineligibles for a construction company including:
- $2,946M in retainage
- $1,214M in bonded jobs
- $265M for partially paid invoices
- Identified a $2,997M difference between the general ledger AR control account and the AR aging for a service company. Recommended that financial statements be resubmitted so covenants could be recalculated.
- Recommended a $3,189M ineligible for inventory in-transit for a distributor. Other ineligibles totaling $537M also identified by ECG.
- Identified in-accurate accounting practices and methodologies for a distributor of health and beauty aides. ECG identified that past due AR reported to the lender was understated by approximately $800M.
- Recommended $1,700M of new ineligibles for a communications company including:
- $771M for bonded jobs
- $338M for percentage of completion billings (billings in excess of costs)
- $341M for cross aged AR
- $161M for contra AR
