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Case Studies

Transforming Condominium Audits Through Strategic Outsourcing

SUCCESS STORY

Client Overview

A prominent audit and accounting firm specializing in condominium audits faced a growing challenge in Toronto, Canada. The firm sought to outsource a significant portion of their condominium audit workload to India to achieve cost savings and operational efficiency.

condominium audit, audit, Bookkeeping Outsourcing, bookkeeping

 The challenge was to seamlessly integrate an offshore team with a strong understanding of Canadian auditing standards and practices to maintain service quality and accuracy.

Buchprufer’s solution involved assembling a dedicated team in India with expertise in homeowners’ association audits. We established regular communication channels and conducted comprehensive training to ensure a strong understanding of Canadian auditing standards, facilitating efficient collaboration and quality work.

  • Team Setup: We initiated the project by assembling a dedicated team in India comprising professionals with prior experience in homeowners’ association audits. This team began with three members and later expanded to a proficient team of six.

     

  • Communication Framework: To ensure effective collaboration, we established regularly scheduled calls between the Indian team and the firm’s managers. These calls facilitated transparent communication and enabled knowledge exchange.

     

  • Comprehensive Training: Extensive training sessions were conducted to ensure that the Indian team fully comprehended the firm’s procedures, Canadian auditing standards, and accounting practices. This step was crucial to align their work with the firm’s quality standards.

Results

  1. Cost Efficiency: By outsourcing a substantial portion of their condominium audits to India, the firm significantly reduced operational costs while maintaining top-tier quality standards.
  2. Streamlined Operations: The dedicated Indian team seamlessly integrated with the firm’s workflow, enhancing the efficiency of condominium audits.
  3. Global Expansion: The firm is now closer to achieving its vision of outsourcing all condominium audits to India, allowing them to focus on core strategic initiatives.

Conclusion

association audit operations. The partnership achieved cost savings while ensuring strict adherence to Canadian auditing standards and accounting practices. By outsourcing to a skilled and experienced offshore team, the firm has streamlined its operations, opening doors for future growth and expansion.