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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.,
 
     
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