Head of Internal Audit
OTE Group
Total years of experience :19 years, 1 Months
Reportin• To develop systems & technique to strengthen controls, risk management, governance process in discussion with Chairman/Director/Top Management
• Review of risk based audit plans prepared for different business lines in alignment of Risk & Control matrix. i.e Sales, Manufacturing, Marketing, procurement, warehousing, logistics, HR, Accounts & Finance, leasing, financing, Credit &Control, IT, Construction Projects in Oman & UAE etc.
• Monitoring implementation status of audit plans & reviewing key audit observations for flash reports if required (Various vehicle & other retail showrooms, Service, Warehouse & other office locations).
• Review of key audit observations, risk ratings, overall impact of observations recorded across locations for monitoring risk appetite/red flags, continuous alignment with defined audit methodology and reporting holistic view on effectiveness of internal controls to Directors, Chairman.
• Review & monitoring of audit recommendations implementation trackers i.e. updation mechanism, follow up audits on reported audit observations.
• Audit Controlling function carries out pre audit of the business expenses, New businesses proposals & Payments as per the delegation of authority.
• Giving inputs in development of company policy & strategies, authority matrix to keep risk within company's risk appetite.
• Results driven data analytics. Fraud reviews in businesses operations/financial.
• Periodical updates of significant audit findings & flash reports to Director/Chairman.
• Continuous review & monitoring of SAP authorizations, changes in SAP, New developments in SAP though processes put in place between audit & IT Dept.
• Develop standards/process/system for working/review of internal audit department
g to : Reporting to
Company profile:
Multinational diversified group having presence in Pharmaceuticals & Life Science Chemical, Jubilant is one of the largest Custom Research and Manufacturing Services (CRAMS) Company in India. It has various business verticals, Industrial Chemical, Performance Chemicals, Drug discovery & contract research, Food chain (Dominos), Hyper Markets, Oil & Gas Exploration, and Infrastructure development with a turnover of USD 1 Billion, Jubilant had six manufacturing locations in India, two in USA and one in Canada.
Work Areas:
•Developing continuous monitoring process through Controls Software by launching Controls Self-Assessment at various locations for different businesses.
•Testing of Risk & Control matrices for different areas of business ( Order to Cash,
Procurement to payment, Fixed Assets, Forex, Logistics both inbound & outbound, Inventory, Accounting closure, legal, Credit Control and ITGC). Where required support provided for designing the control cycle.
•Prepare & implement special audit programs as per the directions of Head Audit, along with team covering various departments i.e Sales (Domestic & Exports), Procurement Group, Credit & control, Manufacturing operations, R&D, MIS, Accounts &Finance, Taxation, Legal/statutory compliance, logistics, Warehousing operations, international subsidiary, IT authorizations (BAAN system) etc
•Conducting management assignments for assessment of fraud and reporting the observations of the assignment to Head Audit & management.
•Monitoring of implementation status of Big 4 outsourced audits, kick off meetings with management at locations. Review of draft audit observations, risk ratings, overall view and audit summary sheets for board presentation with outsourced audit team along with process owners with supporting's in closure meetings.
•Tracking audit observation implementations reported by process owners both of in house & outsourced audits and follow up audits for key observations immediately and ensure coverage in subsequent location audit plans for effectiveness.
& May 03 to March05
Company profile:
Mazars had global presence in 58 countries and brought together the skills of 10000 plus professionals across the world. Mazars was rated among the top ten in the main countries, having balanced clients in different sectors like in Industry-29%, Services-29%, Banking-17%, Insurance-12% & Public Sector-13%. Major clients of Mazars India are Escort Group of Companies, MGF Group of Companies, Thales etc.
Work Area
•Maintained a team of eight permanent members for execution of audit
•Ensuring adherence to Mazars quality standards within the allotted time and cost budget Reporting the audit findings to the management
•Supervision of audit assignments and liaison with the client
•Maintaining coordination among the team members for timely completion of audit assignments
Main Statutory Audits carried out/reviewed:
MGF Development LTD tied up Emaar MGF (in the area of Real Estate development), Handicraft &Handloom Export corporation(in the business of gold bullion, procuring handicrafts & organizing fairs Out of India), Musashi Auto Parts (India)P.LTD, Menlo worldwide logistics private limited, Capital Toyota P. Ltd, MGFHyundai Ltd, MGF Mall Management(facility management firm managing six malls), Goetze(India) Krishna Quineete P.Ltd, Bank of Rajasthan Ltd, Bank of Baroda Ltd, Union Bank of India (Central corporate loan branch Northern Region) Orberthor Card system(OCS), Thales International.
Internal Audits (IA) Assignments :
Escort Heart Super Specialty Institute, Travellex Worldwide(branches),
Delhi Tourism & Travel Development Corporation, Panacea Biotech Ltd.
International Assignments:
Assignment Handled in MAZARS SHANGHAI office ( On Deputation to Mazars Shanghai), Shanghai Thales Electron Tubes Co Ltd(IFRS & PR China’s GAAPs Financial Statements), GL events Ltd, Wuxi Norlong Foundary Co Ltd (It’s a East Jordan Europe Holdings Group Co ), Jiangsu Xieno Automobile Accessories Company Ltd(IFRS Complied Financial Statements), EMT Automotive Components Co Ltd.
Company profile :
ETA Ascon had USD 4 billion turnover through diversified businesses with a strong presence in the field of Construction, Contracting & MEP(Mechanical, Electrical, plumbing), Air-conditioning & Other Building techniques, facility management and Real Estate Development in Dubai. Major activities of M&E Division was MEP to reputed projects like Emirate Towers, Palm Island, Burj Dubai. Other activities includes sole distributors of AC's Home & commercial Home Appliances & own brand of Home Appliances.
Work Area:
•Analysis for cost control of durable division(sub division of M&E) business(Accounting, Finance & Inventory) and Audit of few projects in the M&E division
•Monitoring & suggesting corrective action to control cash flows and fund flow of the projects undertaken
•Team member for Monitoring launch of New durable products in the market
•Reporting on regular basis, the collection status of the projects and highlight all troublesome cases Reporting on progressive profitability of projects and preparation of budget
•Analysis of cost variances /cost overruns in projects
•Control over Financial year closing of the division .
•In addition to above, involved in preparing of specific reports to appraise the Sr.ED.