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Manager Internal Audit For Manufacturing industry

5.00 to 10.00 Years   Jaipur, Gurugram, Delhi   22 Dec, 2021
Job LocationJaipur, Gurugram, Delhi
EducationNot Mentioned
SalaryRs 10 - 16 Lakh/Yr
IndustryMedical / Healthcare
Functional AreaGeneral / Other Software
EmploymentTypeFull-time

Job Description

Manager Internal Audit For the Manufacturing industry

  • Conducting Internal audits work as per approved internal Audit plan.
  • Draft the Audit report, Action taken was taken discuss the reporting issues with the Functional Head and; release the final internal Audit Report to Management.
  • Examine and evaluate financial and information systems, IFC Control, recommending controls to ensure system ability and data integrity.
  • Determine whether operating policies and procedures are adequate to safeguard assets, measure and control the economic and efficient use of resources.
  • Identify the control gaps from various process flow like :
  • Procurement to Pay (P2P), Quality checks - deduction/ Rejection;
  • Order to Cash (O2C), Scrap and By-Product sales Management and process;
  • BOM Management, Maintenance, Inventory Management;
  • Outbound Logistic, Production Planning (PPM), SCM;
  • Statutory Compliances (Check compliances and report of all applicable laws i.e. Factory Act, Contractor labor Act, Wages and, Minimum wages Act, PF, ESIC, Taxes etc.
  • Account and Finance, HR & Administration, Payroll process, Production Process Checks, Cost management, Cost reduction.
  • Checking Compliances of SOPs, ALM, DOA, and report to Management
  • Carrying Special Audit Activities as directed by Management Like checking of packing material audit, Coal Audit, FOC, and QC sample Controlling checks, etc. (For cost saving)
  • Surprise physical Verification of Cash and Inventory Raw material (Bulk Material), Semi-finished goods, Finished goods, Store inventory, WIP, etc., and reconcile with System.
  • Checking Manual and automatic control in the process, and their effectiveness using paper walkthrough process, Flowchart, Diagram, and system manual.
  • Verifying Scrap, non-usable wastages Disposal process system. Monitoring over E-Process bidding and disposal process.
  • Surprise checking of DEPO, Dealer warehouses, and report to management for noncompliance.
  • Checking Warehouse Management, safety, and security, warehouse stock reconciliation, and identifying nonmoving, slow-moving, obsolete Inventory and report to Management.
  • Others Management audit, Special assignments and other works as directed by ACM/ BOD.
Internal Audit Areas 1. Verification of procuring to pay process2. Verification of Order to cash process3. Capital Expenditure Analysis, Quotations, Vendor selection process.4. Suggested a formal process of execution of legal Service level agreements / AMC across AIL with all vendors and its centralization at HO.5. GST non Compliance issues such as Nondisplay of GST credentials outside premises / wrong GST reg. Numbers /PAN numbers.6. Audit of Double and Excess payments7. General Ledger Scrutiny8. Fraud Investigation9. Verification of Insurance policies10. Coordination with Statutory and IFC auditors.11. Monthly physical verification of stock of all Pharma & Chemical divisions of AIL.12. Monthly Expenses analysis in SAMA_IDEA Audit software.13. Verification of business Contracts, Standard Operating Rates/Annual Rate Contracts w.r.t. Purchases with invoice & sap ( system) at Pharma & Chemical division14. Quarterly Rate analysis for Potential savings for purchase of raw material, engineering items and for availing various services.
  • Preparation of annual audit plan post discussion with respective business heads
  • Issuance of engagement letters to respective process owners before starting the audit, conducting opening meeting with process owners, preparing scope & checklists for audits to be done
  • Conducting study of all activities of the process being audited and suggest improvements
  • Reviewing the processes and ensuring that internal controls systems are adequate
  • Providing inputs for improvements in internal control systems, processes, avenues for cost savings and profit maximization
  • Assessing adequacy and correctness of accounting records
  • Ensuring compliance with various statutes applicable and with company policies and procedures laid down
  • Ensuring that audit findings/observations are correctly and factually reported
  • Issuing draft audit report for responses after closing meeting with process owners and further discussion with superiors
  • Constant written/verbal follow up with auditees for implementation of audit recommendations and issue of final audit report
  • Conducting fraud investigations for specific areas identified during audit.
  • Assisting in preparing reports to be presented before audit committee on quarterly basis
  • Sharing best practices/major audit observations with audit team at regular intervals.
  • Summarizing major audit observations for monthly MIS to be presented to top management
15. Preparation & Implementation of SOP for various services across AIL16. Monthly verification of discrepancies related to employee Loans17. Auditing in SAP environment.18. All other audit areas as decided by management.Quarterly submission and presentation of Internal audit report in the Audit Committee Meeting (ACM), Audit Report Preparations /Discussions/following compliances/attending meetings etc.,

Keyskills :
order to cashcost savingsinternal auditingaccountingprocess flowservice levelrate analysisfinished goodsrate contractssales managementreportingfinanceinternal auditlegal servicecontinuous improvement facilitationcost managementaudit commit

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