# Turning chronic audit delays into on-time delivery for a seven-entity manufacturing group Case study · Audit & Assurance A manufacturing group with government tenders, contract manufacturing, and international joint ventures had missed statutory deadlines and paid penalties year after year. 7 Legal entities brought onto one readiness calendar 0 Statutory deadlines missed after the programme began 0 Late-filing penalties since ## The situation A group of seven companies making water-flow meters, with government tender business, contract manufacturing, and international joint ventures, experienced every statutory audit as a crisis. Deadlines were missed, penalties followed, and relations between the finance team and the auditors had soured. ## The challenge - Statutory deadlines missed repeatedly, with penalties every year - Material errors found during fieldwork, when there was little room to correct them - Auditor requests left open for weeks, and PBC lists incomplete when fieldwork began - Management time swallowed by last-minute firefighting ## What we did We introduced a readiness calendar that starts well before fieldwork, with milestones for each entity and PBC schedules assigned to named people rather than departments. Pre-audit health checks found and resolved errors, unreconciled balances, and undocumented judgements before the auditors arrived. We acted as the single point of contact between the group and its auditors, managing the flow of information and answering technical questions quickly. ## The impact - Every statutory deadline met, and penalties eliminated - Errors found and corrected before fieldwork rather than during it - A working relationship with the auditors restored, with fewer and faster queries - Management attention back on the business Client details are anonymised, and some facts are generalised to protect confidentiality. **Industry** [Manufacturing](https://soniassociates.in/industry-manufacturing) **Capability** [Audit, Assurance & Transaction Support](https://soniassociates.in/service-audit) **Geography** India **Duration** Annual, ongoing **Standards and frameworks** Audit readiness · PBC management · Auditor coordination ## More client impact [All client impact](https://soniassociates.in/case-studies) Technology · Financial Reporting ### [Rebuilding an expected credit loss model for a listed IT services company with US$855 million in receivables](https://soniassociates.in/case-ecl-model-listed-it-services) US$855mn Gross trade receivables covered by the model Energy & Infrastructure · Financial Reporting ### [Converting a six-SPV renewable energy platform to IFRS-converged Ind AS, entity by entity and on consolidation](https://soniassociates.in/case-ind-as-conversion-renewable-platform) 6 SPVs converted to Ind AS at the same time Diversified group · Financial Reporting ### [Consolidating a thirteen-entity group through a mid-year sale of a majority stake](https://soniassociates.in/case-consolidation-thirteen-entity-group) 13 Entities consolidated, including subsidiaries and associates ## Facing a comparable situation Describe it in a few lines. We will say whether we are the right firm to help. [Contact us](https://soniassociates.in/contact?topic=audit) [LinkedIn](https://www.linkedin.com/in/in-aditya/) --- Soni Aditya & Associates, Chartered Accountants. Office No 502, Unit 507, 5th Floor, 45 Baner Street, Baner, Pune, Maharashtra 411045, India. aditya@soniassociates.in · +91 93400 75288 · https://soniassociates.in/contact This website is published for general information, in keeping with the guidelines of the Institute of Chartered Accountants of India on members’ websites. It does not advertise or solicit work, and nothing on it is professional advice. Publications reflect the law and standards at the date they were written, so please take advice on your own facts before acting. Client engagements described here are anonymised. Site index for agents: https://soniassociates.in/llms.txt Canonical page: https://soniassociates.in/case-audit-readiness-manufacturing-group