Financial Services & Investment Banking
A boutique investment bank with deal-contingent revenue, cross-border receivables, and Ind AS 115 complexity — we delivered a clean audit on a famously volatile P&L.
What the engagement demanded.
A boutique investment bank advising on PE/VC transactions and M&A deals. Their revenue is highly volatile — large lump-sum success fees on deal closure, with sales cycles ranging from 6 to 18 months. Some advisory engagements were cancelled mid-cycle, creating reserve and provisioning questions. Significant forex receivables from cross-border deals, complex revenue recognition under Ind AS 115, and high salary costs in a service-delivery model made the audit unusually nuanced.
How we executed the engagement.
Revenue Mapping
Each engagement type mapped to recognition method — milestone-based, success-fee, or retainer.
Cancellation Reserves
Provision computation for terminated mandates, with disclosure framework.
Forex Audit
Cross-border receivables, payables, and mark-to-market for outstanding mandates.
Cost Allocation
Partner vs associate cost analysis in a service-delivery model with project-level tracking.
GST on Exports
Place-of-supply analysis for advisory exports, with LUT and refund eligibility.
The capabilities we brought to bear.
Investment Banking Accounting
Deal-contingent revenue recognition, success fee timing, and milestone tracking.
Ind AS 115 Revenue Recognition
Five-step model applied to advisory mandates with variable consideration.
Forex Management
Cross-border M&A receivables, FEMA implications, and hedging where used.
Service-based GST
Place-of-supply rules for advisory exports, LUT compliance, and refund processing.
Financial Volatility Auditing
Going concern assessment, reserves, deferred income, and provision adequacy.
The results we delivered.
At N D Savla & Associates, we don't just ensure compliance — we help you make smarter financial decisions with clarity and confidence.
