- Client
- U.S.-Based CPA Firm
A public accounting firm managing multiple audit engagements.
- Service
- Outsourced Audit Support
Audit documentation, working papers, account testing support, and related tasks.
- Project Goal
- Increase Audit Capacity
Handle more work while the internal team focuses on reviews and client communication.
Client Overview
A U.S.-based CPA firm was handling multiple audit engagements and needed extra support to manage its workload and complete assignments on schedule; the internal team had limited time for audit documentation, working papers, and other assigned procedures.
Xconcile provided outsourced audit support to help the firm manage its workload, organize audit documentation, and give its internal team more time for review and client responsibilities.
The Challenge
As the firm's audit workload increased, managing multiple assignments with the existing team became more difficult. The firm needed additional capacity without immediately hiring more full-time employees.
- Increasing Audit Workload: More assignments created additional pressure on the existing team.
- Time-Consuming Documentation: Working papers and supporting evidence took hours away from review work.
- Tight Deadlines: The team needed to complete assigned audit tasks while keeping engagements on schedule.
- Limited Staff Capacity: Existing professionals had to balance audit work, reviews, and client communication.
- Hiring Constraints: Recruiting and training additional employees was not always suitable for changing workloads.
The Solution
Xconcile provided outsourced audit support based on the firm's workload, existing processes, and deadlines. The team helped with assigned audit procedures, documentation, and working paper preparation across ongoing engagements.
- Audit Working Papers: Preparing and organizing working papers based on the firm's requirements.
- Audit Testing Support: Assisting with assigned testing procedures and documenting supporting evidence.
- Financial Documentation: Reviewing assigned financial records and organizing relevant schedules and documents.
- Audit File Preparation: Arranging documentation to support the firm's internal review process.
- Review Follow-Ups: Addressing reviewer comments and updating assigned work as required.
Results and Business Impact
Xconcile handled selected audit tasks and working paper preparation for the firm. This allowed its in-house team to spend more time reviewing audit work, communicating with clients, and managing other engagements.
- Faster Audit Turnaround
- 30%
- Audit Assignments Supported
- 25+
- Staff Hours Saved
- 200+
- Increase in Work Capacity
- 40%
