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BILLING MODEL

The fundamental genesis of Billing in our firm is the 'VALUE FOR MONEY' that we endeavour to offer to our clients.

We measure our success by the benefits that both our clients and our firm gain in a Win-Win strategy.

As such, our billing model varies from client to client and it passes through a diligent 'Two-Phase' approach.

Phase 1: Scope Study

A comprehensive study to determine the quality and quantity of ‘Time and Effort’ required to complete the work. The coverage includes

Purpose
Nature of Responsibility
Complexity
Criticality
Time Spent
Frequency

Phase 2: Billing Type

Basis the outcome of the 'Scope Study' as above, one or more of the following Billing type is mutually agreed upon with the client that best suits them

Fixed Billing
Person Hours Billing
Transaction Based Billing
FTE (Full Time Executive) Based Billing

Scope Study (SS)

A comprehensive study to determine the quality and quantity of Time and Effort required completing the work. The coverage includes :

Purpose of the Work - Define in -Scope in line with Business Objectives, Regulatory requirements and expectations from the auditor
Nature of Responsibilities - Audit/ Assurance/ Consultancy/ Administrative Etc.,
Complexity of the Work – Skill, Knowledge and Experience required – High, Medium and Low
Criticality of the Task - What if not done – Financial/ Reputational/ Legal/ Regulatory Repercussions – High, Medium and Low
Amount of the Time spent - Person Hours required – Management/ Supervisor/ Clerical hours spent
Frequency of the work - One time/ ADHOC/ Periodical (Daily, Monthly, Quarterly Etc.,) review

Billing Type

Basis the outcome of the 'Scope Study' as above, one or more of the following Billing type is mutually agreed upon with the client that best suits them

Fixed Billing

Standard amount of billing for the audit period
Periodicity of billing – Monthly/ Quarterly/ Bi-Annually/ Annual
Generally Adopted for Long Duration Projects
The Efforts required can be reasonably projected
Eg: Annual GST Audit, Monthly Control Assessment etc.,

Person Hours Billing

Akin to variable billing
Billing directly proportionate to the person efforts involved
Generally adopted for short duration and dynamic tasks
Usually high skilled task
Reasonable estimate of person hours required,
Eg: Litigation, Appeals, Opinions etc.,

Transaction Based Billing

Akin to variable Billing
Billing directly proportionate to the volume of work
Generally adopted for periodic and repetitive tasks
Usually the 'Effort Per Transaction' is low, but voluminous
Eg: Return Filing Etc.,

FTE (Full Time Executive) Based Billing

Standard Billing per FTE for the Audit period
Agreed resources dedicated for the client
Generally adopted for integrated projects - fixed/variable tasks
The Efforts required can be reasonably projected
Eg: Concurrent Audit, Client call team, End-to-End Management etc.,