PRASHANT JHA

Over 25 years of extensive experience in the field of Internal Audit and Financial Analysis. Years of experiences includes Kick off to Exit Meetings in Internal Audit, Concurrent Audit, Pre-Audit, IFC, Fraud Audit, ERM, Process Improvements, SOP Preparations, Accounting, GAP Analysis, Customization & Implementation, Developing reports and enhancing controls in SAP.

My proactive mindset, reliability, adaptability, and strong problem-solving and time management skills have enabled me to build a versatile career across Manufacturing, Construction, Media, Banking, Services, and Trading industries. With an objective-driven approach and a commitment to continuous learning, I thrive in diverse environments and deliver results across multiple sectors.

• Passport Number: S4493975
• Date of Birth: 07-Dec-76
• Nationality: Indian
• Marital Status: Married

• Treasury
• Procurement to Pay
• Order to Cash
• Productions
• Fixed Assets
• Inventory
• Maintenance
• Quality Assurance
• EHS
• Retail Market
• HR & Payroll
• IT
• MIS & Budgeting
• Finance & Accounts
• Quality Control
• Legal Cases
• Restaurant
• Catering and Wholesale Market
• Other income and Expenses
• Travel Agency Services
• Property Management
• Assembly Management
• Branch Management
• Corporate Governance
• Deal Finalization and Business Performance
• Credit Evaluation Process
• Commission - Direct sales management
• Administration Management
• Fashion Division Management
• Grants & Donations
• Incoming Business
• Annual Adjustments
• Claims Settlement
• Deposit Premiums
• Profit Commission
• New members, acceptance & renewals in insurance company
• Mobilization and Demobilization Audit
• Sub-Contract & Job work Audit
• Accounting audit
• Micro finance audit
• PDC Management
• Ordering process
• Cost to Construction
• Claims
• Equipment audit
• Statutory Compliance
• Waste & Scrap Management
• Bank Branch Audit
• Implementation IAR
• Implementation of SAP
• Trade Finance
• Retail Assets
• Retail Liabilities
• Depository
• Sub-Contracting
• Supply Chain
• OPD
• IPD
• NSDL
• CDSL
• Compliances
• 
  

Banks, Mutual Funds, Insurance, Re-Insurance, Oil (Edible, Non-edible and Derivatives), Pharmaceuticals (Formulations & API), Chemicals, Food Processing, Nutrients, Organics, Construction Material, Mechanical, Paper, Water Bottling & Fruit Drinks, Aluminum Extrusion, Poultry (Conglomerate), Dairy Products & Food Processing, Mechanical, Electrical, Steel, Aluminum, Building Materials, Food Items, Cigarette, Furniture, Sanitary, Stationery, Electronics, Leather, Textiles, Cars, Nuclear Plants, Hydro Plants, National Highways, Railways, Power Stations, Solar Plants, Real Estate, Schools, Hostels, Cinema, Office Buildings, Retail Shops, Wholesale Market, Distribution, Cinema, Hotels, Restaurant, Tourism, Hospital, Physiotherapy, Ayurveda, Schools, Organic Farming, Waste Management, Fertilizer.

Oracle 11i

DBA

SQL

• 2001 - Chemical Industries (India) - Led process improvements that elevated production yield from 89% to 99%, strengthening operational performance and cost efficiency.
• 2002 - Chemical Industries (India) - Implemented solutions to inventory inefficiencies and elevated product quality, resulting in measurable sales growth.
• 2003 - Chemical Industries (India) - Improved research and development processes, delivering cost‑effective solutions and accelerating new product development.
• 2003 - Chemical Industries (India) - Successfully obtained a waiver amounting to USD 0.007 Million, resulting in direct cost savings and improved compliance efficiency and detected and reported unpaid custom duty worth USD 0.054 Million, strengthening financial controls and ensuring regulatory adherence.
• 2004 - Chemical Industries (India) - Delivered a year-on-year revenue increase of USD 0.02 Million by closing process gaps and improving operational efficiency. Reduced risks of financial leakage and strengthened internal controls. Improved overall business performance and positioned the company for sustainable growth.
• 2005 - Chemical Industries (India) - Enabled timely production and delivery of goods worth USD 0.05 Million, safeguarding customer commitments. Reduced risks of revenue loss and enhanced customer satisfaction. Demonstrated resilience and adaptability in managing critical business situations. Contributed to overall organizational reliability and trust in production capabilities.
• 2006 - School (India) - Detected fraudulent activity amounting to USD 0.32 million, ensuring corrective action and reinforcing financial integrity.
• 2007 - School (India) - Established a process to identify fraud triangle elements of pressure, opportunity, and rationalization within the school, improving risk management and accountability.
• 2007 - School (India) - Designed and executed a procure-to-pay framework, strengthening compliance, optimizing cash flow, and minimizing procurement risks.
• 2007 - School (India) - Detected and resolved vendor overpayments totalling USD 0.03 Million, including non-deduction of retention, and implemented a robust pre‑audit mechanism to enhance financial controls and safeguard company resources.
• 2007 - School (India) - Identified fraud angle in large‑value of work orders USD 0.3 Million processed without adequate verification or segregation of duties, exposing the organization to risks of overpayments, misappropriation, and vendor collusion.
• 2008 - Travel Industries (India) - Successfully streamlined Visa processing, Ticketing, Compliance, Procurement, Consultancy, Renovation Budgeting, Salary and TDS management, Refunds and Pilgrim transfers, Security, Petty cash, and Receipts into a transparent, efficient, and customer‑centric system.
• 2008 - Banks (India) - Achieved three-year client retention across multiple banks, directly attributable to strong audit performance. Enhanced client trust and satisfaction through transparent and accurate reporting. Strengthened the company’s reputation as a reliable partner in the banking and financial services sector. Contributed to sustained revenue streams and long-term business stability.
• 2009 to 2010 - Vertically Integrated Poultry Farming, Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services & Tours and Travel Industry (Bahrain) - Led process improvements that elevated production yield from 87% to 95%, strengthening operational performance and cost efficiency. Reduced production inefficiencies and losses across FMCG, agriculture, and industrial sectors. Improved quality assurance and compliance with international standards. Strengthened budgetary discipline and prevented overspending in production processes. Enhanced operational transparency and accountability through SOPs and structured reporting. Delivered measurable improvements in yield, cost control, and customer satisfaction across multiple industries.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry & Retail and wholesale industries (Bahrain) - Improved fairness and transparency in employee performance evaluations. Reduced risk of asset misuse and strengthened accountability. Enhanced workforce efficiency through accurate attendance and leave management. Established long-term sustainability with succession planning and structured HR policies. Prevented financial irregularities in overtime and loan approvals. Strengthened integration between HR and finance, ensuring accurate reporting and compliance. Detected and reported excess salary payments amounting to approximately USD 50,000, preventing further financial leakage.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry & Retail and wholesale industries (Bahrain) - Reduced fraud exposure in cash sales and collections. Improved cash flow efficiency by accelerating deposits. Enhanced accuracy and transparency in invoicing and credit management. Strengthened ERP-based controls, ensuring compliance and accountability. Delivered measurable improvements in financial governance and customer trust across FMCG and related industries. Reduced cash deposit delays from 18 days to same-day deposits, strengthening cash flow.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry & Retail and wholesale industries (Bahrain) - Reduced operational risks and improved asset longevity through structured maintenance controls. Enhanced workplace safety and employee well-being, ensuring compliance with regulatory standards. Increased security and accountability in asset and facility management. Delivered measurable improvements in governance, operational efficiency, and organizational resilience.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry, Retail and wholesale industries & Insurance Industries (Bahrain) - Strengthened ERP governance across financial and operational modules. Reduced fraud risk in cash handling, invoicing, and procurement. Improved accuracy and transparency in accounting, inventory, and customer management. Enhanced cash flow efficiency and vendor relationship management. Delivered measurable improvements in audit compliance, operational discipline, and decision-making reliability.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry, Retail and wholesale industries & Insurance Industries (Bahrain) - Strengthened financial reporting accuracy by ensuring all assets were properly recorded and depreciated. Reduced audit risks and improved compliance with internal and external standards. Increased transparency and accountability in asset management. Delivered measurable improvements in governance, operational efficiency, and control environment. Discovered and included 65 previously unlisted assets, ensuring the register reflected the true asset base.
• 2009 to 2010 - Beverages, FMCG, Livestock & Feed, Packaging Industry, Service & Hospitality, Financial Services, Tours and Travel Industry, Retail and wholesale industries & Insurance Industries (Bahrain) - Reduced financial risks by eliminating unauthorized budget expenditures. Improved accuracy and reliability of MIS and reporting systems. Enhanced decision-making through timely and standardized reports. Strengthened governance and accountability in financial planning and execution
• 2011 – NBFC’S, Banks (India) - Improved audit efficiency by completing assignments faster than budgeted timelines. Conducted a comprehensive microfinance audit within 40% of the budgeted time, including extensive travel requirements. Strengthened financial controls through identification of unrecorded PDCs. Enhanced transparency and accountability in branch operations by highlighting efficiency gaps. Conducted a branch audit that revealed a 60% efficiency rating, compared to a previous auditor’s 93% rating. Delivered timely, sector-wide audits, reinforcing governance and compliance across industries.
• 2012 - Construction Industries (India) - Strengthened financial accuracy by correcting misstatements in stock, revenue, and ledger classification. Improved cash flow management through release of idle bank guarantees. Highlighted excess Bank Guarantees (BG) worth USD 1.03 Million ₹5.42 Crore lying with the client for over 14 months. Enhanced operational efficiency with structured evaluation of subcontractors and equipment. Delivered cost savings and budget discipline by curbing excess expenditures.
• 2013 to 2019 – Pharma Manufacturing Industries (India & Africa):

A. Procurement & Vendor Management

· Reduced PR-to-PO cycle time from 180+ days to below 30 days through weekly follow-ups with the purchase department.

· Introduced PR services preparation for all Work Orders from November 2016, ensuring structured procurement.

· Implemented vendor master controls to prevent advance payments until vendor records were corrected, reducing fraud risk.

· Eliminated single vendor dependency by onboarding two additional suppliers for critical materials.

· Implemented scrap policy from January 2017, identified scrap sales, and established controls for proper accounting.

B. Inventory & ERP Reporting

· Developed a customized inventory ageing report for better stock visibility.

· Corrected SAP reporting errors by changing movement type from 101 to Z01 for composite materials, ensuring accurate receipt reporting.

· Delivered the long-pending ER6 report(pending since 2013) within one month through vendor coordination.

· Identified and raised inventory value by USD 0.3 million, ensuring accurate reporting.

· Configured monthly consumption reporting for SFG, WIP, and raw materials, ensuring timely batch-wise tracking.

C. Quality & Compliance

· Identified and implemented a release strategy for QC, ensuring proper quality approvals.

· Corrected bypassed release strategy in capital POs by enforcing SAP controls and default purchase group settings.

· Configured and implemented release strategies for consumables and repairs POs in accounts from August 2016.

· Implemented a Risk Control Matrix with zero queries raised by external auditors.

· Prepared Internal Financial Control documentation ahead of statutory audit deadlines.

D. Financial Governance & Recovery

· Secured USD 0.05 million in payments for spent items through rigorous follow-up.

· Reduced bill approval time from 3 months to 10 days, improving cash flow.

· Identified and posted entries worth USD 0.2 million in cost centers for SFG and WIP shop floor stocks.

· Ensured debit notes for commissions were received instead of discounts, improving transparency.

· Transferred USD 0.04 million to repairs & maintenance and USD 0.045 million to capitalized assets, ensuring proper classification.

E. Fixed Assets & Capitalization

· Initiated half-yearly capitalization of assets (Sept 2016 and March 2017).

· Ensured third-party identification and tagging of all fixed assets.

· Established a verification process to review asset classes every 3–5 years.

· Implemented capitalization of interest portions for compliance with accounting standards.

· Introduced third-party interim cash verification for stronger financial controls.

F. Operational Efficiency

· Reduced batch processing time, saving costs in manpower, electricity, and utilities, while increasing yield.

· Highlighted excess production norms to the MD, who committed to monthly reviews for corrective action.

· Established monthly plant idle time reporting, with MD assurance for regular review.

• 2020 to 2021 - Construction Industries (India) - Established SAP-based internal controls post-audit of IFC, enhancing transparency, accountability, and operational effectiveness across multiple functions—Inventory, Plant & Machinery, HR & Admin, Procurement, Finance, and Accounts. Saved USD 1.2 Million
• 2021 to 2023 – Oil Manufacturing Industries, University, Retail Trading & Oil Derivatives (India) - Saved USD 2.5 Million

• Oracle 11i