Support to a large domestic SEC registrant using an integrated global delivery model
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus pharetra tortor eget lacus ullamcorper, posuere fringilla justo convallis.
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.
Challenges faced by the client
- 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
- We provided support to the revenue accounting team for POC computation and reimbursable revenue tracking on a quarterly/monthly basis, monthly revenue POC support, and revenue 606 analysis. We deployed staff to the internal audit team to test the operating effectiveness of controls.
- We provided accounting advisory services for revenue recognition accounting/Variable Interest Entity (VIE) analysis.
- All the above support was provided through an optimal combination of onsite & India-based offshore resources in consultation with the client.
The value our team added
- India-based resources delivered a meaningful part of the project, which was managed from the US 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.
