                                 CODE OF VIRGINIA

RECOVERY AUDITS OF STATE CONTRACTS (§ 2.2-1822.1)

The Department of Accounts shall procure the services of one or more private
contractors, in accordance with the Virginia Public Procurement Act (§ 2.2-4300
et seq.), to conduct systematic recovery audits of state agency contracts. Such
recovery audit contracts shall be performance-based and shall contain a
provision that authorizes the contractor to be paid a percentage of any payment
error that is recovered by such contractor. Individual recovery audits shall
consist of the review of contracts to identify payment errors made by state
agencies to vendors and other entities resulting from (i) duplicate payments,
(ii) invoice errors, (iii) failure to apply applicable discounts, rebates, or
other allowances, or (iv) any other errors resulting in inaccurate payments. The
Department of Accounts shall report on the status and effectiveness of recovery
audits, including any savings realized, to the Chairs of the House Committee on
Appropriations and the Senate Committee on Finance and Appropriations by January
1 of each year.

HISTORY: 2004, c. 644; 2005, c. 109.