Sreeresh Prakash

Key Result Areas: − Spearheading a team of 14 highly skilled professionals, driving the attestation function to unparalleled success. − Performing comprehensive financial, compliance, and internal audits for clients, ensuring planning and execution. − Evaluating operational efficiencies, crafting strategic recommendations that resulted in substantial enhancements. − Championing clients in navigating complex corporate tax, VAT, GST, and Transfer Pricing regulations, ensuring adherence and optimization. − Establishing robust accounting systems adhering to GAAP and regulatory standards, fostering financial integrity for diverse clientele. − Conducting bespoke training programs, empowering client staff in proficient accounting and bookkeeping practices.

Key Result Areas: − Supervised a cross-functional team comprising finance, accounting, procurement, and supply chain experts, facilitating compliance and administrative excellence at the corporate headquarters. − Collaborated with the Managing Director to devise comprehensive profit and loss management strategies, contributing to business success. − Engineered and executed a robust financial roadmap, aligning with both short-term imperatives and long-term organizational goals. − Directed the meticulous preparation and consolidation of Management Information System (MIS) reports, ensuring transparent and timely insights into key financial and operational metrics. − Crafted resilient annual budgets and quarterly cashflow projections, leveraging them to optimize working capital and make well-informed capital expenditure decisions. − Partnered closely with the CEO and Group Management to formulate impactful business key performance indicators (KPIs) and dynamic board presentations. − Identified and rectified control deficiencies across commercial, financial, and operational processes, crafting and enforcing tailored standard operating procedures (SOPs). − Supervised and coordinated monthly closing procedures and annual financial statement finalization, ensuring seamless completion of statutory and tax audits and meticulous review of VAT returns. − Oversaw end-to-end supply chain operations, orchestrating seamless coordination between procurement, supply chain, and production units to avert disruptions and prevent inventory surges. − Ensured the strength, compliance, and adaptability of the companys financial systems to effectively support both current operations and future expansion. − Formulated and implemented company policies related to capital allocation, credit management, taxation, ensuring a strong financial foundation for sustainable growth. Achievements: − Conducted thorough analyses of the invoice-to-cash cycle, pinpointing and eliminating bottlenecks to boost receivables metrics by over 25%. − Streamlined working capital management, slashing receivables collection times and securing cost-efficient capital sources, resulting in a remarkable 14% reduction in annual finance costs.

Key Result Areas: − Led a multinational team of 20 members, commanding the accounting, finance, and supply chain realms of the business. − Directed the entirety of accounting and finance functions, encompassing financial planning & analysis, finalization of accounts, financial and management reporting, budgeting, tax planning and management, and consolidation of books with the holding company. − Delivered accurate and reliable management information reports, annual budgets, and quarterly cashflow forecasts to the Board of Directors and shareholders which facilitated informed decision-making processes and ensured timely fund availability to meet financial, commercial, and investment obligations. − Spearheaded tax planning, corporate tax compliance, Transfer Pricing, and VAT adherence, culminating in successful completion of multi-year Tax and Transfer Pricing Audits in full compliance. − Collaborated closely with statutory auditors (Ernst & Young), ensuring prompt completion of annual audits. − Mitigated risks by implementing robust control measures across financial, commercial, and operational domains. − Played a pivotal role in strategic procurement and pricing decisions, leveraging costing and bench-marking methodologies. − Managed all import-export activities including trade finance, documentation and clearing formalities. − Provided stakeholders with vital financial modeling and feasibility studies for investment and divestment decisions. − Contributed significantly to the seamless implementation of an ERP system by assessing user requirements, identifying control gaps, and conducting staff training sessions.
Achievements: − Negotiated with financial institutions to secure working capital financing at reduced interest rates, slashing annual finance costs by over 8% and obviating the need for high-cost equity infusion. − Achieved a 40% reduction in forex exposure through strategic procurement initiatives and exploring alternative material supply channels. − Optimized the capital structure to minimize capital costs, coupled with cost reduction initiatives, leading to a remarkable 120% enhancement in EBIT and over 100% improvement in Economic Value Added (EVA). − Successfully completed 6 years tax audits and transfer pricing audits in full compliance.

Key Result Areas: − Led and directed a multinational team in finance, accounting, import-export functions, and administration oversight. − Strategically managed cash flow and working capital by fostering close collaboration with banks, ensuring timely customer and supplier communication, and effective follow-up. − Produced comprehensive monthly Management Information System (MIS) reports, furnishing valuable insights to senior management and shareholders, facilitating informed decision-making. − Facilitated the timely finalization of local books and their consolidation with the parent company, while coordinating seamlessly with external auditors for audit completion and ensuring compliance. − Supervised all import-export transactions including trade finance requirements and documentations. − Developed annual audit plans and programs, securing Board approval, and executed reviews of processes to evaluate internal controls, identifying weaknesses and enhancement opportunities for Board consideration.

Key Result Areas:
Established and operationalized an Internal Audit Function for UAE operations, encompassing trading activities across branches in South Africa, Ghana, and Kenya.
Developed annual audit plans and programs, securing Board approval, and executed reviews of processes to evaluate internal controls, identifying weaknesses and enhancement opportunities for Board consideration.
Monitored the implementation of prior recommendations, ensuring accountability and progress reporting to the Board.
Enhanced profitability by identifying and rectifying control deficiencies, particularly in inventory management and production efficiency, resulting in tangible financial gains.
Provided strategic advice on product pricing adjustments, driving improvements in product-level margins and overall profitability, while contributing to feasibility studies for new projects and reviewing divestment proposals, leveraging financial acumen and analytical insights.

Reported to the Board of Directors

Key Result Areas: − Led the global internal and operational audits for Coats Plc group companies spanning 65 countries, meticulously planning and executing audit schedules based on comprehensive risk assessments. − Reviewed and optimized Information Systems processes, including SAP configurations, in collaboration with technical experts, enhancing system integrity and operational effectiveness.

TAG International is one of the leading audits and consultancy firm in the Middle East.
Achievements:
Independently conducted audits for diverse clients nationwide, crafting audit plans and executing audit procedures in accordance with approved programs.
Conducted feasibility assessments and financial modeling for both new ventures and existing projects, providing valuable insights for informed decision-making.

The primary responsibilities were, preparation of audit plan and schedule, review and supervision of work conducted by audit assistants, preparation of Income Tax returns for the clients and advise on tax planning, advising the adjustments and closing entries at the stage of finalization, Income Tax Audit, Bank audits (revenue, concurrent and statutory).
Reported to the partner of the firm.

Served as audit assistant as a part of curriculum of the Chartered Accountancy course.
Various assignments managed include Statutory, Internal and Tax Audit of Public and Private Companies, Co-operative societies, educational institutions, hospitals, trusts etc., Statutory, Concurrent and Revenue Audits of Banks, Finalization of Accounts, and preparation of Income Tax Returns