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At A Glance
- Client: Reseller of electric utility services
- Challenge: Customers questioned whether their rates were being marked up.
- Service: Independent rate verification agreed-upon procedures
- Outcome: Independent verification of billed rates, plus recommendations to strengthen internal processes.
When customers suspected they were being overcharged, a targeted, independent review gave them proof and gave leadership a clear path to tighten its processes.
The Challenge
With electricity costs in the headlines, the company began hearing a pointed question from customers: Are you marking up our rates? As a reseller of electric utility service, its reputation depended on customers believing they were billed fairly.
Reassurance from the company itself only went so far. Customers wanted proof from someone without a stake in the answer.
The Approach
GBQ designed a focused, independent review around the customers’ specific concern. Rather than auditing everything, the team:
- Selected a sample of rates the company charged its customers.
- Compared those rates with what other utility companies were charging.
- Assessed whether the billed rates were accurate.
- Evaluated the underlying billing processes along the way.
This sampling approach reflects how audits provide reasonable assurance. The team tested enough transactions to support a reliable conclusion without reviewing every bill.
The Results
The review verified that the rates GBQ tested were accurate. That gave the company independent evidence to share with customers. It also surfaced areas where processes could be tightened, giving leadership a practical road map for improvement.
Why It Matters
This engagement is an example of three things an audit does well: it identifies risk, builds trust, and drives improvement. Not every assurance need fits neatly into a SOC 1, a SOC 2, or a financial statement audit. Sometimes the right answer is a targeted engagement built around one stakeholder question.
How GBQ Can Help
When customers, lenders, or partners want proof rather than promises, GBQ’s Assurance & Advisory team can help you find the right level of assurance. That might be a full SOC report or a focused, independent review. Talk to an expert about what your stakeholders are asking for.
