Umang Bansal

• Played a key role in the transition phase of a global pharmaceutical client's FAAS engagement, helping stabilize end-to-end processes.
• Handled clinical trial accounting by recording actual patient-level costs using Condor software.
• Uploaded and reconciled invoices and purchase orders (POs), ensuring alignment with trial-specific budgets.
• Conducted variance analysis between budgeted and actual costs and flagged material deviations for management action.
• Prepared trial-wise cost allocation schedules and supported accurate month-end and quarter-end financial closures.
• Generated journal entries (JEs) for clinical trials and ensured compliance with IFRS and internal SOPs.
• Collaborated closely with cross-functional teams (Finance, Reporting, Procurement) to ensure process standardization and timely reporting.

Key Achievement:

• Successfully supported the transition and stabilization of a critical FAAS project, laying down key process flows and aligning offshore deliverables with global expectations.

Statutory Audit

• Conducted Statutory and Concurrent Audits of major clients in the financial services sector including State Bank of India, Punjab National Bank, Corporation Bank, and Bank of India.
• Performed end-to-end audit procedures including vouching, verification, analytical review, and audit sampling.
• Audited key financial areas: revenue, purchases, receivables, payables, payroll, inventory, and fixed assets.
• Understood and assessed audit assertions such as existence, completeness, accuracy, valuation, rights & obligations.
• Executed cut-off testing, compliance testing, and walkthrough for various processes.
• Calculated materiality, identified risk of material misstatement, and documented responses accordingly.
• Participated in preparation of audit reports, Management Representation Letters (MRL), and audit working papers.
• Exposure to reporting of frauds, modification in audit opinion, and CARO 2020 requirements.

Taxation

• Filed ITRs, GST returns (GSTR-1, GSTR-3B), and reconciled with books.
• Conducted Tax audits, 3CD preparation, TDS compliance, and GST audit documentation.
• Assisted in company incorporation, ROC filings (DIR-3 KYC, INC-22, DIR-12), and MCA-related tasks.

Financial Reporting

• Drafted Ind AS-compliant financials including Balance Sheet, P&L, and Notes to Accounts.
• Applied Ind AS 16, 12, 23, 36, 115, 110 for accounting PPE, revenue, impairment, consolidation, DTL/DTAs.