A Mexican state-owned petroleum company engaged us to conduct a third-party audit of their suppliers to ensure compliance with the preferred pricing clauses in their contracts.
We audited 64 supplier contracts pre-identified by the company to ensure those suppliers were compliant with their preferred pricing agreements. We also obtained data on suppliers’ sales of comparable products and services to other customers.
We found that 12 of the 64 supplier contracts audited did not fully meet contractual requirements, resulting in $362,000 in reimbursements to the client.