Sumanth Kumar Kesarapalli

• Ensure timely and accurate Monthly and Quarterly submission of P&L and BS to the BPC tool and
• Implementation of Functional Currency change from NGN to USD
• Submission of Quarterly Audit packs to Corporate and addressing queries there on.
• Gross margin analysis by BU wise and at SKU level
• Material price analysis at BOM level to ensure accurate Inventory valuation
• Review of Overheads and its comparison to Budget
• Review of Schedules to ensure movements are in line with expectations
• Review of GRIR, Trade creditors and Advance to Creditors to know overall outstanding position
• Review of Trade debtors, Credit limits and Tenor days to ensure no credit limit and Tenor breaches. ECL workings verified to comply with IFRS
• Analysis of FX impact at YTD level and at FTM
• Review of Inter company balances along with periodical confirmations to ensure minimal reconciling items

Achievements:

• Trail Blazer awards for successful Implementation of Functional currency changes (Dec 2023) and migration of critical activities of Crown flour Mill Limited activities from Nigeria (2019)
• Vanguard award for successful completion of year end Audit on time considering its complexity and size.

Group Reporting:

• Ensure timely and accurate Monthly and Quarterly submission of Report One (Group reporting tool) and supervise the submissions and MJEs made by the team in line with Group reporting guidelines BOFC.
• Prepare and review the quarterly review packs on periodic basis to check whether movements are in line with expectations.
• Collaborate with FO and Non-FO stakeholders to ensure seamless Group reporting, Inter Company reconciliations
• Review of Latest Estimates (LEs) at customer level and at legal entity level with actual KPI’s to check for major drivers which impacted the results.

Statutory Reporting:

• Planning and preparation of financial statements as per requirements of relevant GAAPs
• Ledger scrutiny checks for identifying necessary audit adjustments and posting them proactively ensuring no audit comments.
• Perform variance analysis, transactional level review & comparison to prior period to ensure correct month-end close and the accuracy and completeness of the financials.
• Identification and resolution of accounting issues associated with the preparation of the financial statements
• Prepare statutory audit packs for PWC and EY and front-end support to auditors and coordinating with various feeder processes to ensure first time right submission to auditors and smooth audit closures without any audit overruns.

Achievements:

• Awarded with SRA for successful transition of Controllers role to offshore with in the specified timeline.
• Rewarded by Incentives for automation of monthly activities of Middle East companies.

• Exposure in Audit of Manufacturing, Trading and Financial Services industry.
• Engaged in IFRS Group reporting, IGAAP, Statutory, and Tax Audits.
• Assisting the team in planning and execution of activities.
• Process flow understanding of a Business and performing walkthrough tests to

identify the effectiveness and efficiency in Internal Controls (CARO Reporting).

• Performed agreed upon procedures (AUP’s) of UK companies.

Major clients handled:

· Britannia Industries Limited, Hinduja Foundries Limited and Daimler Financial Services Limited

• Exposure in Audit of Manufacturing, Trading and Banking industry.
• Compliance with Accounting Standards, CARO requirements, Revised Schedule VI, AS checklists, and Corporate Governance requirements, and finalization of quarterly accounts.
• Review of accounting policies, Notes to accounts and ensuring compliance with IFRS and Indian GAAP.
• Ensure stock valuation has been done in line with Indian GAAP.

Major clients handled:

Turbo Energy Limited, VST Motors Limited, and Bank of Baroda.

• Verification of financial statements, including all schedules and annexures.
• Compliance with Accounting Standards, CARO requirements, and Schedule VI requirements.
• Participated in and conducted physical verification and reconciliation of inventory.