DEEPAK LAL

Handled end-to-end responsibilities for statutory, internal, and special audit assignments across public sector clients.

Statutory Audit

• Led statutory audit teams for clients including National Pension Trust, NAFED (National Agricultural Cooperative Marketing Federation of India Ltd), and ICAI (NIRC).
• Managed planning and execution of audits, supervised a team of 5, and maintained quality control.
• Reviewed full sets of financial statements for statutory compliance and assessed key financial reporting elements.
• Delivered findings to client management through audit reports and closure presentations.

Internal Audit

• Conducted internal audits for CONCOR (Container Corporation of India Ltd), evaluating operational efficiency, internal controls, and compliance across various functional areas.
• Identified control weaknesses, provided actionable recommendations, and assisted in drafting audit reports.
• Participated in risk assessments across business processes to support internal audit planning and execution.

Special Audit & Advisory Assignments

• Conducted marketing expense audits of BMW dealerships to verify claim eligibility under OEM schemes.
• Executed circulation audits for newspapers (Times of India) under ABC and RNI norms.
• Verified incentive claims for IFCI under government initiatives like “Make in India.”
• Participated in audits of UNICEF and UNDP to ensure grant utilization compliance across multiple locations in India.
• Performed stock audits for coal and ENA (Extra Neutral Alcohol) companies, ensuring valuation accuracy and inventory management.

Other Contributions

• Played a key role in drafting audit scopes and risk-based internal audit plans for new engagements.
• Supported the firm’s peer review and quality assurance process by preparing compliance reports and audit quality documentation aligned with regulatory standards.

Developed core auditing skills through hands-on experience in statutory, internal, and concurrent audits across various industries and public sector entities.

Statutory Audit

• Assisted in conducting statutory audits for Central Warehousing Corporation (CWC) and India Tourism Development Corporation (ITDC).
• Applied Ind AS (including Ind AS 115, Ind AS 116, employee benefits, taxes, and investment accounting) during audit procedures.
• Conducted ICFR testing and detailed walkthroughs to assess operational control effectiveness.
• Performed audit procedures on key financial areas including sales, purchases, receivables/payables, bank reconciliations, depreciation, and fixed assets.
• Ensured compliance with the Companies Act, applicable Ind AS, and Standards on Auditing.
• Supported ICFR documentation and walkthroughs to test control design and effectiveness.

Internal Audit

• Conducted internal audits for JK White Cement and Sagarmala Development Corporation Ltd.
• Analyzed internal processes and operational workflows to identify inefficiencies and internal control gaps.
• Participated in risk assessments across procurement, sales, and HR cycles, providing observations and suggesting improvements.

Concurrent Audit

• Executed concurrent audits for commercial branches of SBI and PNB.
• Reviewed banking operations, loan disbursements, documentation, guarantees, revenue leakage and interest subsidies to ensure compliance with internal and regulatory standards.