Nikhil Vyapari
Chartered Accountant (The ICAI) and CISA
Manama,Bahrain
Overview
21
21
years of professional experience
15
15
years of post-secondary education
Work History
Head, Internal Audit
Al-Rashid Group
, Bahrain
12.2014 - Current
- Profile (FP&A, , Legal & Loss Prevention)
- Budgeting and monthly MIS
- Review and analysis of monthly management reporting for financial
- Variance analysis and investigating reasons for monthly Budget Vs actuals and with Last year
- Plan and schedule risk based internal audit for Retail Store operations as per directives of Corporate audit
- Support month-end closing by ensuring that all expenses and provisions are booked to appropriate Accounts
- Review of Monthly audits for retail stores operations and consolidation of open issues reported therein
- Consolidation, escalation & closure of key audit issues based on the review conducted
- Formulating standard operating procedures for key business areas and recommending changes to Management from time to time
- Working closely with Store operations for formulating variance reduction plan and scheduling perpetual inventory
- Preparation of stock audit reports for the half yearly and annual stock counts
- Fraud investigation and ensuring proper controls in place
- Working on retail data analysis to identify suspected transactions, non compliances against SOP and release dashboard to management
- Assisting Finance Team on Budgeting & Forecasting
- Preparation of Financial statement for Subsidiary companies
- Quotation comparison for Projects BOQ, Vendor selection and also negotiations with vendors
- Preparation of Letter of Acceptance and other legal agreements as per guidelines issued by Corporate legal department
- Preparation of quarterly legal compliance report
- Tracking of audit issues with closure status and updating the same in monthly tracker
- Making legal agreement as per requirement of various stake holders
Deputy Manager
Trent Limited
02.2007 - 12.2014
- Assisting in preparation of Audit calendar for the year
- Conducting audit of various departments like Store Operations, Projects, Marketing, Buying, Merchandising, Finance & Accounts, Administration, Institutional Business etc
- Conducting Thematic audits based on business requirement
- Performed two rounds of Process audit for Westside stores which involved measuring stores performance based on selected parameters for specified processes
- Preparation of the Draft report and discussion of the same with auditees
- Follow up of replies for audit reports
- Discussion of Final audits reports with concerned head
- Tracking of audit issues with closure status and updating the same in monthly tracker
- Preparation of Risk based internal controls checklist for Store Operations and communicating the same to audit firms pan India
- Quality monitoring in Internal audit reports conducted by audit firms
- Consolidation and escalation of key issues to Head of Operations
- Internal audit for Finance & Accounts function for subsidiaries (Trent Hypermarket ltd., and Fiora Services ltd.)
- Conducting Fraud investigation and other special assignment given by the management
- Assisted in preparation of Risk Register
- Assisting in preparation of IA budget
- Periodically tracking IA budget versus spends and assisting Accounts team on quarterly basis in provisioning for IA fees
- Additional responsibilities:
- Reparation of monthly MIS for Human Resource Function
- Sanction & Disbursement of Loan in adherence to Company Loan policy
- Review of existing HR policies
- Continuous audit for Recruitment and Exist process
- Agreement with Expats and other consultants
- Worked closely with Marketing function for rate benchmarking activity
- Eview of SAP controls with internal audit perspective
- Using reports from Business warehouse for inventory ageing & category wise sales
- Carried on special assignment to identify gap in MRP as per SAP & POS and identification of merchandise sold at lesser price
- Analysis of negative inventory
- Category wise Shrinkage analysis
- Vendor Master analysis and also ensuring adherence to payment terms
Muzumdar Audit Associate
M/s Borkar
05.2004 - 02.2007
- Special assignment for Fees Committee which involved estimation of Fees to be charged by medical & engineering colleges
- Special assignment for SU-UTI under directions of SEBI which involved verification of transactions in primary & secondary market for equities and debt market
M/s R.Sundaresan Aiyar & Co
02.1999 - 02.2002
- Run through for SOX compliance for ICICI bank
- Special assignment for Indian Oil Corporation for reconciliation of Customer ledger for various depots
- Company formation and registration of firms
- Statutory audits for various private limited companies and co-operative societies
- Accounts writing for private limited companies and trusts
- Computation and preparation of Income tax returns for individuals & professionals
Education
Ph.D. - Accounting, Finance, Internal Audit
06.2002 - 05.2011
GPA: 51
B.Com - Accounts
06.1997 - 05.2000
H.S.C - Accounts
07.1995 - 06.1997
GPA: 63
S.S.C -
06.1994 - 06.1995
GPA: 76
Skills
Internal audit procedures
Internal Controls Audit
Internal auditing
Internal Audits
Process auditing
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Head, Internal Audit - Al-Rashid Group
12.2014 - Current
Deputy Manager - Trent Limited
02.2007 - 12.2014
Muzumdar Audit Associate - M/s Borkar
05.2004 - 02.2007
The Institute of Chartered Accountants of India - Ph.D., Accounting, Finance, Internal Audit
06.2002 - 05.2011
- M/s R.Sundaresan Aiyar & Co
02.1999 - 02.2002
M L Dahanukar College of Commerce - B.Com, Accounts
06.1997 - 05.2000
M L Dahanukar College of Commerce - H.S.C, Accounts
07.1995 - 06.1997
J. B Khot High School - S.S.C,
06.1994 - 06.1995