Executive / Assistant Manager - Internal Audit

General Responsibilities:

Ø Conduct in-depth financial audits and analysis across various business operations.

Ø Ensure compliance with organizational policies and regulatory requirements.

Ø Identify and mitigate financial and operational risks.

Ø Monitor and optimize process improvements in income, expenses, payroll, and project management areas to enhance efficiency and accuracy.

Ø Provide actionable insights and recommendations to management for improved financial control.

Ø Maintain transparency and integrity in auditing processes while fostering a culture of accountability.

Specific Responsibilities:

Income Audit

Ø Analyse debtor aging reports and ensure periodic review by management.

Ø Verify adherence of all offers of credit, discounts and complimentary are approved by the approving authority as per the BRISOP.

Ø Perform variance analysis between budgets, actuals, and previous year's figures.

Ø Audit OTA/DTA and Corporate Contracts, rates, and commissions.

Ø Validate cancellation/refund approval matrices and complimentary service voucher processes.

Expense Audit

Ø Perform detailed variance analysis between budgets, actuals, and previous year's figures.

Ø Review creditor aging reports and ensure they are periodically monitored.

Ø Audit timely payment processes for MSME vendors.

Ø Conduct a comprehensive review of MIS, trial balance, and reconciliations for transactions and related-party schedules.

Ø Verify all documents and certifications related to payments.

Ø Ensure compliance with statutory requirements, including OTA/DTA contract terms and commission structure audits.

Store Reconciliation

Ø Ensure effective inventory management and oversee pricing and costing processes.

Ø Audit rate finalization as per BRISOP.

Ø Analyze wastages, spoilages, and breakages, ensuring strict controls.

Ø Verify consumption and sales data against store inventory records.

Ø Monitor high-consumption and high-cost items for better cost control.

Ø Conduct in-depth analysis of food cost reports to identify discrepancies.

Payroll Verification

Ø Conduct sample payroll audits monthly from each unit.

Ø Verify leave data, attendance records, and statutory contributions (such as PF, ESIC, etc.) for the sampled employees.

Ø Audit shared service salary distribution as per the guidelines.

Ø Verify loans and advances, and review full and final settlements for employees who have left the organization

Statutory Compliance Verification

Ø Verify GST input credits and contractor-paid GST as per the due dates & GST related compliances for regulation payments.

Ø Review the adherence to applicable statutory regulations, including ESIC, PF & and other local taxes by verifying contributions, filings, and timely remittances.

Ø Verify Income Tax compliance, ensuring accurate TDS (Tax Deducted at Source) deductions, timely remittance, and filing of returns.

NC Capex (Non-Project)

Ø Oversee approval of budget and analyse comparative quotation matrices (L1 & L2).

Ø Ensure alignment of processes with BRISOP guidelines.

Ø Certify payments and study DCP for approval.

Ø Monitor clearance of payments and adherence to approving authority guidelines.

Projects

Ø Ensure budget approvals by JMD/CMD and oversee project contracting as per BRISOP.

Ø Review comparative quotation matrices (L1, L2, L3 process) for accuracy and necessary cost vs quality optimization.

Ø Certify RA (Running Account) and ensure timely deduction of advances/materials.

Ø Oversee Joint Measuring certifications, penalties & deductions before certifying payments for ongoing projects.

Ø Audit DLP (Defects Liability Period) release as per BRISOP guidelines.

Ø Maintain and monitor separate contract sheets for labour and materials.

Ø Ensure NT (Non-Tendered) items are tracked appropriately and the necessary documentation is maintained to eliminate any un-tendered/unplanned expenses.