# The judgement behind the number Advising listed and privately held companies, and the families behind them, on financial reporting, audit readiness, structure, and tax. From Pune, with engagements across India, the Middle East, Europe, and North America. [About the firm](https://soniassociates.in/about) [Perspective · The Income-tax Act, 2025: a new vocabulary, and the documents still written in the old one](https://soniassociates.in/insight-income-tax-act-2025) [Client impact · Rebuilding a credit loss model for US$855 million of receivables](https://soniassociates.in/case-ecl-model-listed-it-services) [Article · The audit trail requirement is a control, not a software setting](https://soniassociates.in/insight-audit-trail-edit-log) ## Featured insights [All insights](https://soniassociates.in/insights) Article · The Audit-Ready Company ### [Selling a majority stake mid-year: consolidation through a loss of control](https://soniassociates.in/insight-loss-of-control-consolidation) When a subsidiary becomes an associate, the reported gain includes a revaluation of the stake the group keeps. Getting to the right number means taking five steps in a set order. August 12, 2026 · 12 min read Article ### [Before the dashboard: agreeing what the numbers mean](https://soniassociates.in/insight-kpi-definitions) July 22, 2026 Article ### [What lease accounting demands after the adoption project ends](https://soniassociates.in/insight-ind-as-116-lessees) July 8, 2026 Article ### [The month-end close as a design problem](https://soniassociates.in/insight-month-end-close) June 24, 2026 ## The same month, measured five ways The same month’s revenue can be measured five ways, each of them defensible. Put them under one label in different meetings and people stop trusting the reports. [Read the article](https://soniassociates.in/insight-kpi-definitions) Exhibit 1 Five legitimate answers to “What was revenue in March?” Illustrative company, the same month measured five ways, ₹ crore *Exhibit graphic: Horizontal bar chart comparing five definitions of revenue for the same month* Illustrative figures. Each measure is valid for its own purpose; the problem is presenting them interchangeably without a definition. Source: SA&A analysis Soni Aditya & Associates Most of the problems we are asked to solve were *decided long before anyone noticed them*, in a contract clause or a structure chosen in a hurry. [About the firm](https://soniassociates.in/about) [Our professional standards](https://soniassociates.in/our-standards) ## Client impact Recent engagements, and what changed once they were done. [All client impact](https://soniassociates.in/case-studies) ### Technology · Financial Reporting · A credit loss model that settled the audit debate US$855mn Gross trade receivables covered by the model A listed Saudi Arabian IT services company kept running into auditor challenge over its credit loss provision. A rebuilt IFRS 9 model resolved every query in the reporting period. [Read the case](https://soniassociates.in/case-ecl-model-listed-it-services) ### Consumer & Retail · Finance Transformation · About 99 percent fewer recurring cash shortages ~99% Reduction in recurring cash shortages by the third iteration A fuel retail network with heavy daily cash volumes and very few systems had come to accept cash discrepancies, and could see its numbers only after month end. [Read the case](https://soniassociates.in/case-fuel-retail-finance-transformation) ### Energy & Infrastructure · Financial Reporting · Six SPVs moved to Ind AS at the same time 6 SPVs converted to Ind AS at the same time A renewable energy group came within the scope of Ind AS with fixed audit deadlines and a finance team that had never reported under IFRS-based standards. [Read the case](https://soniassociates.in/case-ind-as-conversion-renewable-platform) ### Diversified group · Financial Reporting · A 13-entity consolidation through a loss of control 13 Entities consolidated, including subsidiaries and associates A group sold a controlling stake in part of its business during the year, turning a routine consolidation into a sequence of remeasurements across subsidiaries and associates. [Read the case](https://soniassociates.in/case-consolidation-thirteen-entity-group) ### Manufacturing · Audit & Assurance · Seven entities, no missed statutory deadlines 7 Legal entities brought onto one readiness calendar A manufacturing group with government tenders, contract manufacturing, and international joint ventures had missed statutory deadlines and paid penalties year after year. [Read the case](https://soniassociates.in/case-audit-readiness-manufacturing-group) Capabilities [Financial Reporting & Technical Accounting](https://soniassociates.in/service-financial-reporting) [Audit, Assurance & Transaction Support](https://soniassociates.in/service-audit) [Finance Function Transformation](https://soniassociates.in/service-finance-transformation) [Cross-Border & Multi-Jurisdiction Advisory](https://soniassociates.in/service-cross-border) [Corporate Structuring & Tax](https://soniassociates.in/service-corporate-structuring) [Performance Management & Analytics](https://soniassociates.in/service-analytics) [Sustainability & ESG Reporting](https://soniassociates.in/service-sustainability) [Technology & AI](https://soniassociates.in/tech-and-ai) Industries [Technology & IT Services](https://soniassociates.in/industry-technology) [Manufacturing & Industrials](https://soniassociates.in/industry-manufacturing) [Energy & Infrastructure](https://soniassociates.in/industry-energy-infrastructure) [Financial Services & NBFCs](https://soniassociates.in/industry-financial-services) [Consumer & Retail](https://soniassociates.in/industry-consumer-retail) [Family Enterprises & Private Wealth](https://soniassociates.in/industry-family-enterprises) Series ## The Audit-Ready Company An audit turns on five areas of the business. The series takes each in turn, and the diagnostic shows where a company stands in each of them. [Explore the series](https://soniassociates.in/insights#series) [Take the diagnostic](https://soniassociates.in/audit-readiness-diagnostic) 1. [01 · Accounting judgements · Credit loss models and the memos that support them · Read](https://soniassociates.in/insight-ecl-models-audit-scrutiny) 2. [02 · Leases and contracts · Modifications, variable payments, and discount rates · Read](https://soniassociates.in/insight-ind-as-116-lessees) 3. [03 · Close and reconciliations · A close designed around dependencies, not habit · Read](https://soniassociates.in/insight-month-end-close) 4. [04 · Controls and audit trail · Evidence that the edit log worked all year · Read](https://soniassociates.in/insight-audit-trail-edit-log) 5. [05 · Group structure · Consolidation through changes in control · Read](https://soniassociates.in/insight-loss-of-control-consolidation) Featured newsletter ## The Brief A fortnightly email for CFOs, controllers, and founders: one piece of analysis, and the regulatory changes worth knowing about. Nothing promotional. You can choose topics on the [subscription page](https://soniassociates.in/subscribe), and unsubscribe whenever you like. [![Aditya Soni](https://soniassociates.in/assets/img/aditya-soni.jpg)](https://soniassociates.in/aditya-soni) ### [Aditya Soni](https://soniassociates.in/aditya-soni) Founding Partner, Pune Advises companies and families on financial reporting, audit readiness, group structure, and tax. Previously in the Assurance practice of Ernst & Young in Pune. [Full profile](https://soniassociates.in/aditya-soni) [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/