Samriti Mahajan

• Audit of PCAOB and AICPA engagements: Led the execution of audit procedures, ensuring compliance with PCAOB and AICPA standards in the consumer and hospitality sectors.
• Performing Risk Assessment Procedures: Conducted risk assessments and walkthroughs for process narratives, ensuring adherence to established procedures.
• Internal Financial Controls Testing: Conducted walkthroughs of various business processes, gaining an in-depth understanding of operations while identifying potential control weaknesses.
• Substantive Audit of Financial Elements: Performed substantive audits of revenue, operating expenses, fixed assets, payroll costs and other current and non-current assets and liabilities.
• Audit Report Preparation/Reporting: Assisted in the preparation of audit reports, presenting findings clearly and concisely to senior management for review.
• Strategic Communication: Developed strong relationships with clients, addressing concerns promptly and providing timely updates on progress throughout the engagement process.
• Team Management: Fostered collaboration and quality output within a diverse team, leading to high client satisfaction and retention rates. Delivered training and guidance to new auditors to ensure adherence to audit standards and best practices.
• Developed and Managed Relationships: Cultivated and maintained relationships with key stakeholders, resulting in increased trust and transparency.

• Audit Engagement Planning and Execution: Assisted in planning and executing audit engagements for clients in various industries. Conducted risk assessments and developed audit plans to address key risk areas.
• Performed Substantive Testing: Performed substantive testing and analytical procedures to verify the accuracy of financial statements
• Leveraged Technology: Utilized advanced audit tools and technology to streamline audit procedures and improve accuracy. Performed data analytics using advanced tools like ACL software which led to better identification of patterns related inconsistencies and improved the effectiveness and efficiency of audit processes.
• Maintained Client Relationships: Developed and maintained strong relationships with clients, addressing their concerns and providing insights to improve their financial processes.
• Collaborated with Cross-Functional Teams: Collaborated with cross-functional teams to ensure comprehensive audit coverage.

Taxation Other Assignments

Auditing & Assurance

• Statutory and Tax Audits: Worked extensively in statutory and tax audits, interim quarterly audits, limited reviews, and certifications required under various statutes. Led a 4-member team for statutory and tax audits of a 125-crore turnover Pharmacy company, including testing of opening balances and audit closure.
• Compliance and Financial Statement Finalization: Ensured financial statements comply with Schedule III of the Companies Act and Regulation 33 of SEBI LODR. Played a key role in the finalization of financial statements for various entities.
• Accounting Guidance and Internal Controls: Researched accounting guidance (AS and Ind AS) to ensure financial statements comply with generally accepted accounting principles. Performed testing of internal controls over financial reporting.
• Analytical Procedures and Revenue Recognition: Conducted detailed analytical procedures such as computing variances, ratios, and aging to analyze income statements and balance sheets. Ensured revenue recognition in accordance with statutory requirements and provided revenue forecasts for upcoming quarters.
• Issue Identification and Communication: Identified and communicated accounting and auditing issues to seniors and clients, facilitating timely resolution and compliance.
• Tax Audit & Income tax return Filings: Core member of an 11-person team handling tax audits for over 150 entities. Prepared and filed 250+ income tax returns for a diverse client base.
• Tribunal Submissions & Appeal Filings: Assisted in drafting submissions to the Hon’ble Income Tax Appellate Tribunal. Assisted in filing appeals for various clients.
• Certification Work: Conducted certification work related to charitable trusts.
• TDS and GST Returns: Assisted in filing TDS returns and GST returns. Worked as a team member in the preparation of GSTR-9 and GSTR-9C.