Based in California, this client licenses centrally hosted software as a service (SaaS) across the US and the UK. The company has a global turnover of $15m and 60 employees across the two locations.
The business challenge
In 2017, ZEDRA Corporate Reporting Services (UK) Limited (ZEDRA CRS) was approached by one of the largest accountancy firms in the UK to undertake the audit of a client they had engaged with during 2016. This Big Four firm had won the account but were unable to provide audit services to the UK company due to the level of non-audit services they were already providing to the UK entity and within the group.
The company was a good fit for our experience, with a small UK subsidiary of a large US corporation. Working with the finance team in the US, we were able to provide a fixed fee quote for the work required. The work included reviewing management numbers and the prior year statutory financial statements, as well as liaising with the Big Four management accounts team for the current year audit work.
Working alongside the Big Four’s compliance team, we agreed a timetable for the audit with the client which considered other key dates and deadlines. Working closely with both the client and the Big Four advisors, as well as other intermediaries, we were able to ensure the client’s expectations were met. We subsequently visited their headquarters to discuss the work undertaken and hear their positive feedback on the process.
The efficiencies gained by having an open stream of communication between all parties sped up processes and queries were quickly addressed. We were able to accommodate any limitations put in place, manage fee expectation, work with a prestigious company and enhance the great relationship we have with one of the Big Four.
If your business currently works with a Big Four firm and you require Audit assistance that may generate a conflict of interest, please get in touch. You can read more of our Case Studies, meet some of the Team or get in touch to explore how we can work alongside your current provider to provide the Audit & Accounting assistance you need to remain compliant.