Braj Aggarwal, CPA, P.C.

BACKGROUND

Introduce your business and what you do there.

JSW Steel Holding, Inc. is a steel manufacturing company in Texas. I’m the director of tax and compliance for the JSW US operations. At the time when Braj Aggarwal was doing the audit, I was the CFO of the company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Braj Aggarwal, CPA, P.C.?

They were our auditors for financial statements.

SOLUTION

What was the scope of their involvement?

We appointed Braj Aggarwal as financial auditors for our Texas operations.

What is the team composition?

Aside from Braj (Owner) himself, I interacted with Atul (Senior Audit Manager) and one other person.

How did you come to work with Braj Aggarwal, CPA, P.C.?

I came to know them through a few colleagues of mine way back in 2005 and had a couple of casual conversations. When our previous auditors were acquired and the acquired public accounting firm wished to exit. There was an opportunity for us to change auditors, so I recommended them.

How much have you invested with them?

We spent somewhere between $50,000–$200,000.

What is the status of this engagement?

We worked together for the fiscal year ended March 2014 through our fiscal year ended March 2018. The fiscal year ended March 2019, when we moved to a Big Four audit firm as part of a change in corporate policy.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

It would be difficult to put a financial value or metric on their work. The audits were in compliance with the Generally Accepted Auditing Standards (GAAS), and we learned a lot from them as a client. Obviously, they have to adhere to auditing standards; otherwise, there would be a violation created.

They educated us when there was a difference of opinion, and their staff was courteous. Braj Aggarwal, CPA, P.C., is a good firm to have as an auditor.

How did Braj Aggarwal, CPA, P.C. perform from a project management standpoint?

When working with auditors, the starting point is supposed to be us giving them the financials to begin their work. However, it happened simultaneously in our case. After we closed our books, we gave them the closing trial balance and the closing financials that came along with that.

When the audit started, there were certain rectification entries that came up either during the audit itself, or while we were reviewing accounts and trying to furnish explanations. With Braj Aggarwal, it was a very smooth process. We communicated through phone, email, and personal meetings. Braj Aggarwal documents many of these communications for their own processes. 

Moreover, all audit firms go through what is called a “peer review”, where their audit files will be randomly checked by another CPA, as part of the due diligence followed by all accounting standards boards — including the Governmental Accounting Standards Board (GASB), in Texas.

Communication was informal for email and documents, and part of it was over the phone and in person. Usually, the majority of the audit will be in person; but it was only after COVID-19 that the scenario got changed more toward the virtual means.

What did you find most impressive about them?

We were impressed by their scale and hierarchy. If I take a Big Four company, for example, there’s an audit manager and a hierarchy there. The number of people I’ll deal with prior to coming to the Audit Partner will obviously be higher. With small firms like Braj Aggarwal, it’s easier to get in touch with the owner himself, so the turnaround is much better most of the time.

The due diligence process within the organization was faster as well, compared to a Big Four, where there’s a separate due diligence cell. While the bigger firms have more capability in terms of experience, clients, and handling issues, smaller firms have the advantage of being lean and fast.

Are there any areas they could improve?

My interaction with Braj Aggarwal was limited to a client’s perspective, but it was a satisfactory experience for us, and moving to a big firm was just part of a corporate policy. They wanted our group auditor to also represent the US entity.

Do you have any advice for future clients of theirs?

I would have no hesitations in referring Braj Aggarwal to someone looking for an auditing firm.

BACKGROUND

Please describe your company and your position there.

COO of a technology company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Braj Aggarwal, CPA, P.C., and what were your goals?

Braj Aggarwal, CPA, P.C. has provided us with accounting and other related services.

SOLUTION

How did you select Braj Aggarwal, CPA, P.C., and what were the deciding factors?

We have previously utilized Braj Aggarwal, CPA, P.C.'s services.

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Accounting - Quickbooks.

Describe their billing or cost structure.

Confidential.

How many resources from the Braj Aggarwal, CPA, P.C team worked with you, and what were their positions?

A senior accountant and two/three other accountants.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Braj Aggarwal, CPA, P.C.'s services exceeded expectations.

Describe their project management style, including communication tools and timeliness.

They have dedicated account managers with support staff that provided timely and effective services.

What did you find most impressive or unique about this company?

Excellent, full-suite accounting services provided in a timely manner.

Are there any areas for improvement or something they could have done differently?

No.