It's a success story. Audit Alliance LLP - based in Singapore, tell us how being a member of AGN International helped their client become more efficient.
What did we do?
||About our client:
Our client is a group of companies with the primary business focusing on control systems solutions. Examples of products include energy control solutions and power management systems.
The Group has several strategic locations in Asia – primarily Singapore, Indonesia, Australia, and India. The customers of the client range from small to large corporations in the Energy, Transportation and Process sectors.
We act as the group auditor for the client. The holding company managements have to spend a significant amount of time managing local subsidiaries reporting and their auditor’s response to group auditor queries. We have successfully:
- Referred an audit to an AGN Australian firm which the company operating in Australia is a significant subsidiary of our client.
- Referred an audit to an AGN Brazilian firm recommended which the company operating in Brazil, is a joint venture of our client.
How we added value:
Through our connections, it's become much easier to think of someone to recommend to our existing client, when they are thinking about venturing into a new geographical region or considering appointing the auditor in one of their subsidiaries located in other countries.
In referrals above, the client is satisfied with the arrangement as it makes the group audit more efficient. It reduces communication time that it used to takes when two firms are from different accounting network.
The net results
The referral benefits Ashfords and Capital Accounting and Tax Auditing in terms of new client acquisition but it also benefits us. We now have component auditors who we are familiar with, able to work in long-term, which translates to audit quality and efficiency and at the same time deliver higher values to clients. It is a win-win situation.
For enquiries about this Case Study, please contact:
Bernard Lee, Senior Partner
Audit Alliance LLP
M: +65 9692 7388
T: +65 6227 5428