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SAN JUAN CAPISTRANO, CALIF. In a lucrative marriage of auditing and marketing skills, a team of accountants here is building a booming business out of helping companies find lost profits.
Loder, Drew & Associates, with 28 offices worldwide servicing about one-third of the Fortune 1000 and drawing in $22 million in annual revenue, has seized the accounts payable auditing niche.
Founded in 1985, Loder Drew employs 140 people, half of whom are CPAs, in offices ranging from Los Angeles to London. Revenues have doubled every year for the past five. "We were at the right place at the right time," said Ronald Loder, the firm's founder and chief executive. Specializing in procurement and disbursement services, the firm offers accounts payable audits to help businesses identify and recover expense leaks from sources such as check fraud, overpayment and missed discounts.
The firm was recently named to the...