Custom Audit Analytics: The 100% Test

Top 3 Areas of Impact

Test 100% of contract prices

Automated reconciliation completed in under 20 minutes


Eliminates client time to reconcile data


Summary

BDO employs custom analytical solutions to test complex billing arrangements of long-term revenue contracts.

SERVICES PROVIDED
Audit Services
INDUSTRY
Manufacturing

Challenge

The organization enters into long term contracts with clients and uses various datasets to calculate revenue and billings. Transactions in this revenue stream would typically be tested on a sampling basis, and manually recalculated using a challenging data reconciliation process based on tier pricing. 

Results

With this customized data analytic, and the help of the BDOADVANTAGE audit data analytics team we were able to gain visibility into 100% of the population while reducing the time to reconcile to the contracts on an individual basis. This allowed us to obtain a complete picture of the revenue recognized for the year.

Audit Senior Manager