Ishu Saraf
Mumbai
Summary
9+ years of experience in System and Process auditing, Risk assurance and SOX Audits with expertise in IT General Controls(ITGC),IT Application Controls(ITAC) and risk based audit methodologies. Experienced in evaluating business oriented technology risks,assessing control environments,identifying control gaps and issue closure.
Overview
13
13
years of professional experience
Work History
AVP - Global Markets
State Street Corporation
Mumbai
09.2025 - Current
- Part of Corporate Audit team supporting audits across Global Markets with focus on understanding the IT environment,applications landscape and assessing technology risks and controls.
- Execute end to end risk based audit engagements,covering scoping,process walkthroughs,risk and control assessment,control testing,issue validationand sign offs.
- Lead and perform Design effectiveness and Operating effectiveness tests of key business and technology controls.
- Conduct Walkthroughs with Key stakeholders and Process Owners to understand end to end processes,identify key risks and controls
- Expertise in testing IT application controls(ITAC),IT General controls(ITGC),Reports and Interfaces testing
- Mentoring staff on Controls testing,documentation along with review of their work papers and resolving any doubts
- Identify control gaps,evaluate their impact and work with Process owners to develop remediation & process improvement.
Senior Manager - Global Delivery
State Street Corporation
Mumbai
02.2024 - 09.2025
- Part of Corporate audit team supporting Global delivery engagements,working with key stakeholders across business and technology functions
- Conducted process walkthroughs with process owners to map end-to-end processes, identifying key risks and controls
- Support drafting and presentation of Testing matrix for identified key technology controls and associated test steps to Senior team members
- Perform design and operating effectiveness testing of business and technology controls including ITGCs,ITACs,Interfaces,User access etc.
- Prepared and maintained audit documentation and testing workpapers including findings and supporting evidence
Manager - IT Audit
KPMG
Mumbai
10.2021 - 01.2024
- Leading 40+ audit engagements every year with special focus on IT General Controls and IT Automated Controls
- Managed team of 10+ members, ensuring timely and efficient completion of audit deliverables
- Understanding of Business Processes,identification of significant risk areas and drafting Risk Control matrix
- Creating test plans to perform testing of key controls including design and operating effectiveness assessment
- Reviewing work of team members, liaising with internal and external stakeholders and closure of assignments
- Discussion of control deficiencies with the management and suggest process improvements in line with the business
- Associated with Quality Initiative team to standardize KPMG testing procedures thereby maintaining and enhancing utmost quality in all the engagements
- Delivered training to the Risk Consulting team on IT audit concepts and KPMG testing methodologies.
Assistant Manager - Risk Consulting
KPMG
Mumbai
01.2020 - 09.2021
- Performed walkthroughs of significant Business processes and ensured that relevant risks and key controls were covered
- Extensive configuration testing on SAP, Oracle and other ERP systems
- Validation of various custom managerial reports and IPEs to ensure its completeness and accuracy
- Analyze severity of Internal controls deficiencies and their impact on financial statements
- Conducted mitigation and remediation testing to address identified control deficiencies.
Senior Associate - System Process and Assurance
PWC
Mumbai
01.2017 - 12.2019
- Understanding business process framework for different clients and identifying process risks and controls designed to mitigate those risks
- Major Business processes covered are – Revenue to Receivable, Purchase to Payable, Inventory Management, Payroll process and GL Process
- Prepared Risk Control matrix as per the understanding gained of the business and ensuring that Internal controls are working as designed by the management with a special focus on complex IT systems and ERP
- Perform test of design and Operating effectiveness for the controls
- Conducted data analysis of transactions posted in ERP system to find any unusual journal entries leading to potential misstatement of financials
Manager - Offshore Accounting
KGRS & Co.
Kolkata
03.2014 - 12.2016
- Implementation of SUN ERP systems for Intertek Group Plc, a multinational organization listed on London Stock Exchange
- Oversaw monthly and yearly closing of books and finalized financial statements for timely reporting
- Managed GST accounting and reporting system implementation for Moody International (Malaysia) to enhance compliance
Education
Chartered Accountancy -
Institute of Chartered Accountants of India
Kolkata01-2012
Bachelors - Commerce
Shri Sikhshayatan College
Kolkata04-2009
Skills
- IT Audit
- SOX Audit
- IT general controls
- IT application controls
- ERP Audits - SAP,Oracle,Other In-house applications
- Internal Controls
- Risk and Control assessment
- Business Process Review
- Team Management
- Process walkthroughs
- Issue remediation
- Team leadership
- Project management abilities
Accomplishments
- Thrice awarded with "KPMG Accolade" for demonstrating strong audit approach, technical and managerial skills.
- "PWC Above & Beyond Award" for demonstrating exemplary performance and outstanding contribution
- Awarded the State Street Bravo Award twice in recognition of strong project delivery,demonstrating ownership and proactive contribution towards successful project outcomes.
CLIENTS HANDLED
- KEC International Ltd
- Wockhardt India
- Lupin India Limited
- Tata Chemicals
- Panasonic
- Mumbai International Airport Pvt Ltd
- Trafigura Pte. Ltd.
- Ginger Hotels
- Grasim Chemicals and Fertilizers
Timeline
AVP - Global Markets
State Street Corporation
09.2025 - Current
Senior Manager - Global Delivery
State Street Corporation
02.2024 - 09.2025
Manager - IT Audit
KPMG
10.2021 - 01.2024
Assistant Manager - Risk Consulting
KPMG
01.2020 - 09.2021
Senior Associate - System Process and Assurance
PWC
01.2017 - 12.2019
Manager - Offshore Accounting
KGRS & Co.
03.2014 - 12.2016
Chartered Accountancy -
Institute of Chartered Accountants of India
Bachelors - Commerce
Shri Sikhshayatan College