Team member Consolidation

Drive and ensure compliance with accounting and reporting requirements in relation to Indian Accounting Standards as required under Companies Act and SEBI regulations for Cipla India.

• Responsible for overall compilation, review and audit of standalone (Cipla India) financial statements.
• To assist monthly and periodical closing of accounts, release closing calendar, monitor closing activities, review sub-functions accounting processes and closure controls.
• Coordinate for execution of Controller forum and track actionable items.
• Coordinate with SAP team on SAP FI related aspects.
• Responsible for FSCP control compliance, internal audit compliance and also coordinate for statutory Audit process.
• Identify and lead the automation initiatives w.r.t balance sheet analytics
• Review and monitor Related party transactions system. Ensure that all approvals are loaded into the system to track the utilization of all thresholds and no transaction is entered without any approval

Key Accountabilities:

1.Ensure standardization of closing calendar and design templates and drive evaluation of financials for BSR review to ensure accurate trial balance

• Prepare the closing schedule well in advance for circulation
• Plan activities and account provisions based on closing schedule through regular and early follow up of activities.
• Review of employee related provisions like leave encashment, Gratuity, Vpay, Deferred Pay out etc.
• Review of legal provisions like DPCO, MRP etc.
• Preparation of ESOP, Phantom working etc.
• Review of various sales provisions, IBL expense provisions etc.
• Monitor adherence to time lines by designing formats wherever possible to save on time.
• Improve the rigour of Balance sheet review (BSR) and target automation to improve the same
• Review Trial balance and do analysis of GL to ensure accuracy.

2. Prepare monthly and quarterly standalone financials in the relevant reporting format as per Statutory Standards for review and presentation to Management

• Collate data and workings required for Financial Statements
• Review of various schedules like Trade Receivables, Trade Payables, Advance from Customer, Advance to Supplier, Capital Advance, Capital Creditors etc and reconciliations of them with financials.
• Compile data for balance sheet elimination & related party disclosures
• Compile the variance analysis for major heads of expenses to check on major deviations
• Update and check data entered into the prevailing filing format
• Preparation of various notes to accounts of financial statements post co-ordinating with different stakeholders.
• Review schedules and carry out analytical review

3. Liaise and resolve audit queries to achieve full compliance and nil re-raised queries and ensure proof reading annual report prepared annually to achieve error free reporting.

• Liaise with statutory auditors, engage in discussions and respond to close out their queries as and when received.
• Help them with the relevant contact points to facilitate them the data from other stakeholders
• Consolidate manuscripts from different contributing teams
• Proof read data against manuscripts, discuss with parallel teams and accommodate suggestions
• Liaise with printer for incorporation of changes and correction of errors

4. Drive automation of various reports and activities to bring in system & MIS improvements

• Take initiative to contribute towards improvisation of system functions
• Suggest changes/modifications to SAP and other reporting formats
• Provide inputs, participate in testing and implementation of Blackline tool and the likes

5. Mentor accountants to resolve accounting queries and also guide them to achieve standard practices and processes

• Assist to accountants to resolve queries on accounting
• Guide and help to standardize formats and reconciliations on a timely basis
• Prepare synopsis & accounting note for new agreement entered.

6. Completion of statutory Audit/ quarterly review without any qualification for statutory compliance and IFC compliances for FSCP

• Manage Quarterly review by statutory auditors
• Manage Annual audit without qualification by statutory auditor
• Completion of FSCP related IFC compliances

7. Partner with Corporate Functions

• Coordinate for monitoring budget vs actuals spend
• Accounting guidance on business transactions
• Financial Controls review and implementation of financial controls /processes.

8. Facilitate Controller forum to improve the hygiene of the financial statements

• Conduct and facilitate controller forum on periodic basis
• Monitor the execution of action points agreed upon in the forum.
• Prepare annual calendar for controller forum.
• Ensure cross-functional support to close out on action points

9. RPT Disclosure

• Support in preparation of RPT reports for half yearly stock exchange filing.