Santosh Kumar Choudhary

Internal Control Over Financial Reporting

• Performed ICoFR assessment for the largest energy and utility company in KSA along with review of ELC and ITGC.

Middle East Projects (October 2021- February 2024)

Quality Assessment Review

• Performed Quality Assurance Review of Internal audit function for three SABIC owned entities involved in gas, steel and petrochemicals manufacturing company in Saudi Arabia involving the outlined scope:
• Review of IA infrastructure in line with IIA standards and IPPF
• Maturity assessment of IA function by capability maturity model
• Risk assessment, manpower assessment and risk-based IA Planning
• Audit execution, on-job training workshop and audit Reporting

Enterprise Risk Management

• Performed ERM documentation, implementation and reporting for IPF owned investment company in Saudi Arabia and logistics (ports) company in Kuwait involving the outlined scope:
• Identification of risk universe based on the process understanding
• Maturity assessment of the risk culture
• Preparation of risk registers
• Preparation of ERM framework, Risk Appetite Statement and Risk Assessment Criteria based on the risk scoring guidelines
• Risk Based Internal Audit
• Performed internal audit of largest LPG distribution company in Saudi Arabia for branch operation, central maintenance workshop, Insurance, Logistics, Finance and Accounts
• Performed internal audit of well drilling solution company having multiple branches across Asia and Europe providing assurance over revenue and Finance
• Performed internal audit of steel fabricator company covering HR, fixed assets, procurement, and finance

Governance and Compliance

• Secondment as a compliance and Risk Officer for TAQA to review risk exposure and regulatory compliance of third party vendors
• Performed comprehensive assessment of existing DoA focusing on release strategy, authority restructuring and adequate implementing for largest well drilling solution company in Saudi Arabia
• Prepared ERM framework, compliance framework, IA charter, and NRC charter together with operating manuals for subsidiaries of largest electricity generation company in Saudi Arabia
• Prepared compliance register outlining all relevant regulatory and internal compliances along with compliance calendar for leading power sector company in Saudi Arabia

India Projects (November 2019 - October 2021)

Risk Based Internal Audit, ICR and IPE Testing

• Performed internal audit of heavy equipment manufacturing company in India for procurement and treasury together with compliance review as per FEMA and FDI regulations
• Performed internal control review basis existing risk control matrix for telecom company of Myanmar and cloud kitchen company in India for all major functions

Governance, Risk and Compliance

• Performed Internal Audit and prepared risk control matrix of Petrochemical, plastic manufacturing, FMCG and logistics companies for all major functions including SAP review
• Performed Branch Audit of India's largest Housing Loan-NBFC in various states of focusing on review of ILPS, Corporate Finance, Credit Risk, Deposits, and review of DSA
• Assisted Internal Financial Control testing of a nationalized bank involving 7 sub-processes and over 600 controls
• As reward for quality performance, assigned as lead to complete RCSA for Digital Banking, Credit Risk, Statutory and Legal Compliance, HR and Admin

Transaction Advisory Services

• Assisted in Financial Due Diligence of various companies of Ethanol,Polyester, and packaging industry.
• Performed Valuation of companies through DCF and NAV method in electricity, logistics and retail industries.
• Prepared detailed project report with financial models for India’s biggest amusement park company and organic FMCG company involving finance of over INR 2.2 Bn.

3 Years of Articleship and 1 Year as an Associate

• Assisted in internal audit of textile manufacturing company on quarterly basis consisting regular review of procurements, sales, and statutory compliance
• Performed stock audit of world's largest beverage manufacturing company on monthly basis for 2 years to determine accurate valuation of inventory lying at factory, warehouse, and outlets
• Liaising with client and merchant bankers for listing of companies on BSE and NSE platforms