Job Purpose- Plan and conduct Process reviews to assess Internal Controls, Compliance with policies / procedures and regulations, perform Internal Financial Control Testing for ABFRL and all its associated subsidiaries Serve as a liaison between the internal process owners and external audit firms and review scope coverage and findings of external firms, facilitate remediation of control gaps, and present possible Key issue to the senior management that needs to be addressed.
Job Context - The market size of the domestic apparel retail industry is currently estimated to be at 2 Lac Crore Rupees per annum and is estimated to grow at a CAGR of 10% per annum. The depth and width of the business can be estimated by the share of the urban ready to wear market which is a meagre 28%. The industry is witnessing heightened levels of activity with existing players consolidating themselves through partnerships, inorganic growth and new foreign players entering the Indian market. Superior process controls become most important with the growing organisation needs. Process reviews and IFC testing will enable management to put in required control to strengthen the processes on continuous basis.
Principal Accountabilities
Follow up status update of past audit issues | Timely follow up for closure of open points |
Internal Financial Controls Testing | Apply IFC framework and prepare / update RACMs. |
Management Assurance Process Reviews to assess control adequacy | Develop / update audit checklist for each process before start of the review Coordinate for opening meeting during start of the review and meetings with process owners for process understanding Work with agencies in execution of the assignments and conduct review of work progress for the work performed by external agencies at least twice a week Ensure timely data availability & follow up with the process owner in case of escalation by external firm Review draft report to ensure comprehensiveness of coverage per scope Participate in closure discussion and ensure timely receipt of comprehensive replies with action plan and timelines for closure. Perform end to end audit reviews and IFC testing for the assigned processes and ensure closure of finding with process owners with comprehensive implementation plan and timelines. |
Adhoc / Special / Routine reviews | Discuss with the process owners for the reviews to be done |
Whistle Blower | Investigate the complaint received |