Support to a large domestic SEC registrant using an integrated global delivery model
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Case Study
Support to a large domestic SEC registrant using an integrated global delivery model
A domestic SEC registrant listed on the NYSE as a large-accelerated filer. It designs, manufactures, sells, and installs energy systems for on-site power generation.
The business situation
- The organization needed resources with appropriate skill sets, especially in accounting and SOX (Sarbanes-Oxley Act) compliance, to solve complex accounting of revenue contracts and their consolidation. The cost of existing third- party consultants was very high given that the work was done 100% onsite
- The client sought a partner with a deep knowledge of the power and utilities industry and US GAAP, which could deploy an integrated global delivery model
Our team’s role
Internal Controls Testing:
Deployed resources to support the internal audit function in performing SOX compliance testing. This included evaluating the design and operational effectiveness of internal controls across key processes, conducting walkthroughs, performing control testing, identifying deficiencies, and tracking remediation. Testing was executed in alignment with the COSO framework and client-specific risk control matrices (RCMs)
Revenue and Technical Accounting Support
Provided end-to-end support on revenue recognition, including POC computations, reimbursable revenue tracking, monthly close activities, and ASC 606 compliance. Also advised on complex accounting matters such as Variable Interest Entity (VIE) assessments and other technical topics
The value our team added
- Optimized Delivery Model: Delivered services using a hybrid model with both onsite and offshore (India-based) teams, aligned with client expectations for cost-efficiency and continuity
- India-based resources delivered a meaningful part of the project, which was managed from the USA by a team with very strong domain skills and experience. These collaborative efforts resulted not only in a cost-effective solution for the client, but the project could also be delivered within stringent timelines, leveraging the large pool of trained and experienced resources in India.
Solve Complex Accounting Challenges
From Revenue Recognition to SOX Compliance, backed by Industry Expertise and Global Delivery
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