MFRS 15 / IFRS 15
Recurring revenue recognition review
Testing whether invoices, usage, and contract modifications are recognised in the right period and for the right amount under MFRS 15.
Damansara audit practice · Malaysia
The billing application is a book of original entry. We audit it that way.
RuntimeCloud Hub Advisory examines the systems that invoice subscribers, apply credits, and post recurring charges — then ties those records to recognised revenue, deferred revenue, and receivables.
What we open on an engagement
This is not a software certification and not a statutory audit. It is a financial examination of the application that actually bills your customers.
- Active subscriptions against invoices that should have been raised
- Credits, voids, complimentary periods, and dunning pauses
- Proration on upgrades, downgrades, and seat changes
- Usage files, unbilled estimates, and period-end cut-off
- The journal interface into the Malaysian ledger, including SST codes
Primary service
Financial audit of the subscription billing application
We take a bounded extract — subscription master, invoice register, credit notes, payment attempts, and the files posted to the ledger — and reconcile those records to each other and to a sample of contracts. Exceptions are written as control findings or as proposed adjusting items.
Fieldwork for a single billing product usually runs four to eight weeks. The report is written so a controller, an audit committee, or a statutory auditor can put it on the file.
Fees typically begin at RM 22,000 for one product and one legal entity. That figure is informational; we quote after a document request. There is no online checkout.
Related work we take
All services
Close support
Billing-to-ledger reconciliation
A structured tie-out of invoice, credit, cash, and deferred-revenue subledgers to the accounts that appear in the trial balance.
Authorisation
Credits, dunning, and write-off control testing
Testing who can give money back, pause a collection, or abandon a receivable — and whether the billing application enforces that authority.
Before cut-over
Pre-go-live billing financial review
A financial-controls review of a new or replacement billing application before the first live invoice run.
Plan changes
Contract modification and proration audit
Examining how upgrades, downgrades, seat changes, and mid-term discounts are priced, invoiced, and recognised.
How a recent year-end actually looked
Four billing products posted into one company code. Two posted gross, one posted net, one posted only cash. Deferred revenue was being trued up by a round-sum journal. We rebuilt the mapping and left finance with a roll-forward they own.
Who asks us in
Controllers who inherited a reconciling item that never clears. Finance directors preparing MFRS accounts with material deferred or unbilled subscription revenue. Programme sponsors who need a finance go-live memo before a billing cut-over, not only an IT checklist.
We work from 5 Wisma Kelana Mas, 19 Lrg Dungun, Bukit Damansara. Site work in the Klang Valley is ordinary; extracts can be reviewed remotely when access is arranged.
How to start
Send the name of the billing application, the number of products, the legal entity that books the revenue, and the period you care about. We reply with a document request and a scoping note. If the work is not a financial examination of a billing application, we will say so.