select project experiences

Brands Help India has worked on numerous engagements evolving governance, risk and compliance system implantation, process documentation, Internal Audit, Sox compliance and finalization of financial statements as per US GAAP, IFRS, Irish GAAP, Luxembourg GAAP, Singapore GAAP and UK FRS for global clients.

Undermentioned are prior select project details.

v  Review of Accounts receivables control and dealer reconciliation assignment for one of the leading German Automobile Company.  The scope of responsibilities included ensuring completion and finalization of reconciliation activity between company and dealer closing GL at the end of period agreed between company and dealer.

v  Financial Reporting work for a number of Alternative Investment Companies (Hedge Funds), Long Only Investment Companies (Mutual Funds) and Private equity companies as per US GAAP, Luxembourg GAAP, IRISH GAAP, IFRS, UK FRS and Singapore IFRS.

For US GAAP, deliveries include inter alia, Statement of Assets & Liabilities, Condensed Schedule of Investment or Schedule of Investments, Statement of Operations, Statement of Changes in Net Assets or Statement of Changes in Partner's capital/ Member's Capital, Statement of Cash Flows, Financial Highlights & Notes to the financial statements.

For IFRS, deliveries include inter alia, Statement of Financial Position, Statement of Profit or Loss and other comprehensive income, Statement of changes in equity, Statement of Cash Flows & Notes comprising a summary of accounting policies and other explanatory notes.

Since Brands Help India hold strong expertise in domain related accounting principals and standards as a subject matter expert. Hence clients are also helped in interpretation of applicable high level accounting literature and new accounting updates related to Accounting Standard Codifications (ASC) 100 to 900 sections of US GAAP in more specific relation to ASC 946 (Accounting for Investment Companies).

Brands Help India expertise in IFRS 13 (Fair Value Measurement), IFRS 7 Financial Instruments: Disclosures (Qualitative and Quantitative risk disclosure requirements, IFRS 9 (Financial Instruments in conjunction with IAS 39 (Financial Instruments: Recognition and Measurement) and specific IFRS/ IAS standards relevant to reporting work.

v  Internal Audit engagement for leading manufacturers of stored energy solutions provider. The scope of responsibilities included review and test of internal controls around ordering, shipping, receiving and invoicing, inventory, warranty processing and fixed assets of branches across India. The objectives of the audit included to ensure that branch adheres to internal control procedures related to retail sales, inventory, warranty processing procedures and free of cost replacement; Petty cash was properly administered; Perpetual inventory was accurately reflected in the inventory records and that stock was accurately reported and safeguarded; Effective controls were maintained over shipping, invoicing and goods received from factory / Inter-branch stock transfer. I was also required to compile the Audit report, have exit meeting with the relevant stake holders and follow-up for management action plan.

v  Plant Controls Review engagement for leading manufacturers of stored energy solutions provider. The scope of responsibilities therein included review and test of internal controls around Petty cash, Scrap Metal Disposal, Purchasing & Receiving, Shipping, MRO Purchasing & Open PO’s, 1099 Vendors, HR & Payroll, Physical Security, Fixed Assets and Physical Inventory. Further scope included agreeing nature, timelines, budgeted hours and scope of audit with Internal Audit Management; conducting structured walkthrough of the various control areas; Identifying key contacts and obtaining personal charts for the audit area; gathering information using internal audit sources such as business & authority matrices, business processes, key performance indicators, operating procedures /manuals /standards etc; Completing all work papers and preparing over all memorandum of work done & final conclusions in summary of findings; holding a closing meeting with key company management to review summary of findings; preparing final report and editing management action plans; and updating audit findings pages in policy IQ after final audit report is issued & distributed.

v  SAS 70 Audit for one of the Leading Insurance Company based out of North America. The scope of responsibilities therein included, testing of manual and automated controls after having clear understanding & taking walkthrough of already stipulated control narratives and Risk control matrices. The engagement involved operating effectiveness assessment, rationalization of risks & controls and remediation/ reporting of control deficiencies.

v  Revenue Recognition project for a Multinational Telecommunication giant. The project was undertaken in lieu of the year end statutory audit and to test the accuracy of client’s in house revenue recognition software with compliance under EITF08-01, EITF 00-21 and SOP 97-2. The engagement included processing and testing orders and contracts of the company for different geographical locations in order to check the accuracy of the revenue recognition software and the multi element tagging procedure in it.  

v  ERP implementation and Debtor Aging Analysis engagement for one of the leading Conglomerate’s corporate office in India. The scope of responsibilities included analyzing various financial aspects with respect to ERP implementation to ensure accuracy in the books of accounts. Further it was ensured that the reports generated from ERP were in the desired format for Management review in the areas of general control and financial budgeting. Team was also involved in advisory for Debtor Aging which involved reporting debtors whose payments were due outstanding over a period of time and debtors who had exceeded their payment and return limits.

v  MIS/Transaction reporting engagement for a leading Global Steel Manufacturing Giant. The engagement involved tracing transactions from the time they were initiated till payment. The scope of responsibilities included verification of the underlying documents and reporting the same in Client’s home currency to holding company senior leadership team.

v  Fixed Assets verification, tagging and reporting engagement for one of the Leading Conglomerate’s corporate office. The scope of responsibilities included verification of fixed assets independent of corporate office staff and tagging the same for reconciliation with Fixed Asset count accounted in the company’s Balance Sheet.

v  SOX 404 compliance engagement for an Automotive Parts Manufacturing Company on a dual shore delivery model. The engagement involved rationalization of the risk control matrices, end to end process documentation, mapping key financial controls, assessment of design effectiveness and operating effectiveness of control. As part of the project management office, The scope of responsibilities included driving regional updates from globally spread project teams to understand the current work progress, status of control testing, test failures and remediation efforts were shared with companies' management team.

v  Work transitioning for various USA, UK, IRISH and Singapore based clients and setting up accounting teams in India creating Offshore/ Back-office and Middle office setup for specialized and catch up bookkeeping.

 
     
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