Audit Case Study Synopsis™ (7841)

Project
Sydney, Australia

Industry
Financial Services

Savings (total)
$1,529,477 (AUD)
Savings (square foot)
$36.68

Audit Accuracy™
100.00%
Audit Timeline™
91 days
Audit Timespan™
68 days
Audit Return™
$36.68

Campaign Commencement
Q3 2007
Representation Type
Exclusive Service Provider
Campaign Scope
Global Portfolio
Audit Cycles
Annual-Recurring

RRG’s audit covered two (2) years and three (3) changes in ownership.

Upon RRG’s review of the lease, file information, including historical incentive agreements, and other materials related to this location, it was determined that incentive payments had not been paid to the client and remained outstanding. Due to multiple changes of ownership, the documentation supporting the amount owed could not be readily determined and supported by the current landlord. RRG wound up requesting and reviewing all of the information contained in the due diligence files covering the prior two (2) ownership changes and modeled the appropriate outstanding incentive framework based on such complete materials. Upon review of those files, it was confirmed that only an immaterial amount equating to less than five percent (5.00%) had been paid to the client four (4) years earlier while the balance remained unpaid. RRG worked with the current landlord to facilitate the issuance of the balance to the client in order to resolve all incentive concerns.

Abatement
Allowance
Tenant Incentive

 
 

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