Satyam Kumar

Concurrent and Pre-Audit of Payments, Billing Audit, and Physical Verification - Healthcare and academic (hospital and college) sector, covering the following areas:

• Conducted comprehensive audits covering payments, billing processes, cash and imprest accounts, and physical verification of narcotic drugs, imprest and stock.
• Performed in-depth analysis of operational, legal and financial documents at transaction level to identify discrepancies, non-compliances, and deviations from regulatory framework or standard operating procedures; recommended corrective actions and process improvements.
• Performed the specific operational or financial analysis as required by client from time to time including billing cash fraud investigation and analysis on pharmacy profitability, employee discount, IP/OP EWS percentage, vendor advances, outsourced employees, concessions, student, transport profitability.
• Verified payment against bank statements to detect unauthorized or duplicate payments processed by the finance department.
• Carried out detailed billing audits including verification of patients admitted under EWS, CGHS panels, DAK/PMJAY schemes, refunds processed, discounts granted, and review of unsettled balances of discharged patients.
• Presented key findings, issues, and audit observations, along with the recommendations, during weekly meetings with senior management.
• Prepared monthly audit reports along with detailed annexures and supporting documentation.

Internal Audit, Statutory Audit & IFC – Manufacturing Sector (Listed Companies)

• Conducted internal audits for all processes including Production, Quality, Payroll, Stores, Purchase, Finance, Physical verification and Compliance functions.
• Audit planning, which mainly involved understanding the business model and the internal control systems and procedures of the client.
• Reviewing the operating effectiveness of the internal control system in place and the standard operating procedures of the client.
• Identified various operational and financial inefficiencies and non-compliances with regulatory frameworks and recommended necessary improvements and suggestions.
• Internal Audit Report drafting and discussions with the concerned process owners.
• Preparation of Special Observations and Action Taken Report for every quarterly Audit Committee meeting.
• Designed and tested RCMs to evaluate the adequacy and operating effectiveness of Internal Financial Controls system in place.