Audit Manager
Vavachan and Shajan Chartered Accountants
مجموع سنوات الخبرة :1 years, 5 أشهر
Path: Article Audit Manager
A boutique CA firm in Ernakulam, with 200+ clientele offering personalized tax planning and corporate finance services. Statutory Audit
• Nature of Industry: Trading, Mining, Education.
• Identified and rectified a significant financial discrepancy in a client's books, resulting in a cost reduction of 10%
• Performed complete end to end Audit Procedures & Preparation of Audit Report in accordance with Standards on Auditing (SA), Accounting Standards (AS), Companies Act 2013 and CARO 2020 guidelines
• Verified and Reconciled Statutory Compliances like PF, PT, TDS and GST.
• Strong proficiency in Ind AS/GAAP and in IFRS
• Executed detailed Audit Procedures, including reviewing transactions, records, reports, policies & procedures, business processes for accuracy and effectiveness.
• Determined Materiality thresholds and assessed impact on financial statements.
• Conducted thorough Risk Assessments and analysis of potential threats, identifying and mitigating high-risk areas and saving the company Rs. 1 crore in potential losses
• Maintained organized and comprehensive Audit Documentation for review purposes.
• Reviewed and tested Internal Financial Controls as per IFC and identified control gaps resulting in process improvements
• Led comprehensive Compliance Testing procedures in accordance with regulatory requirements and auditing standards during statutory audit engagements.
• Conducted testing of 100 Payroll Transactions and mitigated payroll related risks of RS 50 lakhs.
• Collaborated with warehouse management to develop Inventory Control procedures resulting in 25% reduction in inventory variances and 15% increase in inventory accuracy.
• Collaborated with cross-functional teams to integrate audit data from SAP systems into Power BI, facilitating seamless data analytics and reporting workflows.
• Coordinated audit activities with external service providers, such as legal advisors, valuation experts, and IT consultants, to obtain specialized expertise and support in audit objectives and scope.
• Finalization of Financial Statements of various entities.
• Preparation of Audit Plan and Periodic Review to ensure timely completion of audit.
Internal Audit
• Nature of Industry: Trading, Service Industry.
• Evaluation of Adequacy and testing of Operating Effectiveness of Controls (TOE) for various Processes.
• Identification of gaps in existing Processes and Control Activities and suggesting improvements
• Preparation & finalization of Internal Audit report.
Direct and Indirect Taxation
• Goods & Service Tax monthly returns filing and Income tax Return filing.
• Preparation of GSTR 9, GSTR 9C, and GSTR 3B returns, Filing of Advance ruling and Income tax returns
• Independently handled tax audits of corporate and non-corporate clients in a range of sectors such as Mining, software and technology services, trading and other professionals..