profile - ca. nikhil jain

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Page 1 | 4 CA. NIKHIL JAIN Flat No. 106, Al Ghubaiba Building Near Saravanaa Bhavan, Al Ghubaiba Bur Dubai, Dubai - UAE Mob: +971526311428 Email: [email protected] D.O.B : 18 th November, 1990 Permanent Address : C-202, Shree Hari Blessings, New C.G. Road, Ahmedabad (Guj.) Passport Details : K8095176 (valid till 12 th December, 2022) Holding valid Dubai Driving License. First Attempt Qualified & Competent Chartered Accountant by profession having more than 7.5 years of experience (including 3.5 years as article & audit assistant) in Business Operational & Financial reviews, Process Risk & Control Assessment, Auditing, Consulting and Improvement. Having an experience of more than 4 years in working with the renowned organizations such as Al Futtaim Group (in UAE) and Ernst & Young (in India) etc. Presently working as Senior Operational & Financial Auditor in Retail division with Al Futtaim Group - one of the largest conglomerate operating in the UAE. Attained abilities in reviewing the complex Financial data & MIS, identification of Business Risks, assessment of internal controls pertaining to Store/Showroom/Restaurant Operations, General Ledger/Control Accounts, Bank Accounts & Treasury Operations, Financial outflows, Procurement & Contracts, Warehouse Operations and Inventory Verification, Valuation & Management, etc. for communicating the critical findings to Sr. Management of Business Units and Group Director (Audit) for risk evaluation. Pursuing CIA (Certified Internal Auditor) for professional & educational development. A) Al Futtaim Group Senior Operational & Financial Auditor (Feb’2014 till date) Functional, Operational & Financial Audit of the Renowned Retail Brands (IKEA, Marks & Spencer, Toys R Us, PlugIns, AFWJ etc.) in UAE, Kuwait and Oman. Responsibilities: Preparation of risk based audit programs, audit scope, objectives and audit reports for financial and operational internal controls along with recommendations for improvement. Effectively handling the complete planning & management activities to ensure completion of audit engagement and report within budgeted time. Professional Exposure (Post Qualification) Personal Profile Competency Synopsis

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P a g e 1 | 4

CA. NIKHIL JAIN

Flat No. 106, Al Ghubaiba Building

Near Saravanaa Bhavan, Al Ghubaiba

Bur Dubai, Dubai - UAE

Mob: +971526311428

Email: [email protected]

D.O.B : 18th November, 1990

Permanent Address : C-202, Shree Hari Blessings, New C.G. Road, Ahmedabad (Guj.)

Passport Details : K8095176 (valid till 12th December, 2022)

Holding valid Dubai Driving License.

First Attempt Qualified & Competent Chartered Accountant by profession having more than 7.5 years of

experience (including 3.5 years as article & audit assistant) in Business Operational & Financial reviews,

Process Risk & Control Assessment, Auditing, Consulting and Improvement.

Having an experience of more than 4 years in working with the renowned organizations such as Al Futtaim

Group (in UAE) and Ernst & Young (in India) etc.

Presently working as Senior Operational & Financial Auditor in Retail division with Al Futtaim Group - one

of the largest conglomerate operating in the UAE.

Attained abilities in reviewing the complex Financial data & MIS, identification of Business Risks,

assessment of internal controls pertaining to Store/Showroom/Restaurant Operations, General

Ledger/Control Accounts, Bank Accounts & Treasury Operations, Financial outflows, Procurement &

Contracts, Warehouse Operations and Inventory Verification, Valuation & Management, etc. for

communicating the critical findings to Sr. Management of Business Units and Group Director (Audit) for

risk evaluation.

Pursuing CIA (Certified Internal Auditor) for professional & educational development.

A) Al Futtaim Group

Senior Operational & Financial Auditor (Feb’2014 till date)

Functional, Operational & Financial Audit of the Renowned Retail Brands (IKEA, Marks &

Spencer, Toys R Us, PlugIns, AFWJ etc.) in UAE, Kuwait and Oman.

Responsibilities:

Preparation of risk based audit programs, audit scope, objectives and audit reports for financial and

operational internal controls along with recommendations for improvement.

Effectively handling the complete planning & management activities to ensure completion of audit

engagement and report within budgeted time.

Professional Exposure (Post Qualification)

Personal Profile

Competency Synopsis

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Conducting Follow-up reviews to ensure the adequate implementation of the recommendations agreed by

Business units during relevant audit engagement.

Documentation of the audit working papers as per guidelines of Group Audit Department and IIA Standards.

Anticipating, analyzing and discussing the emerging risks & controls across Group Retail Businesses with

Audit Manager for appropriation actions.

Engagement Functional Areas:

Significant Outcome:

Identified unutilized amount in non-operative foreign bank accounts and idle funds in operative foreign bank

accounts.

Recovery of excess payments to Third Party Logistics.

Identified issues of delay and pendency in invoice booking.

Potential savings after negotiation efforts by Business Units with vendors.

Inadequate procedure for tracking gift vouchers inventory and reconciliation of redeemed gift vouchers.

Identified probability of duplication in generation of unique gift card numbers and deficiencies in its

redemption process.

Incorrect provisioning on receivables and inadequate reporting of operational profit by reversing aged

provision in cost of sales.

Updation of Inventory Replenishment Parameters to avoid ‘Loss of Sale’ situations.

Reduction in the stock & fixed assets write off value considering usefulness.

Implementation of suggested recommendations on store operations activities and updation of relevant SOP.

B) Ernst & Young LLP

Consultant – Risk Advisory Services (Mar’2012 - Jan’2014)

Assigned to carry out independent Functional & Financial Reviews of Corporates

(Reliance Industries Limited, Hindustan Zinc Limited & Atul Limited) in India.

Key Functional Areas: Identifying, reviewing and analyzing-

Business MIS including inventory valuation and cost of production.

Existence & compliance to company’s Sales & Marketing policy, market analysis & development, customer

management and credit policy & control framework.

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Monthly investment MIS, cash management process and compliance & adherence to investment policy of

the company.

Adequacy, completeness, compliance of the physical verification process.

Adherence to procurement policy & procedures, access controls, vendor selection, monitoring &

development and purchase requirement and planning

Process and access controls pertaining to receipt and issue of materials & warehousing and compliance to

inventory policy.

Adherence to capex policy, capex expenditure, decision and approval mechanism, tracking of actual capital

spent & capitalization and Post implementation review and MIS.

Compliance with Statutory laws by the company, pending cases and provision for related liabilities.

Production planning & quality controls, input & output reconciliation, system for monitoring manufacturing

costs, shut downs & breakdowns pertaining to manufacturing review.

Brief Description of Clients:

(a) Reliance Industries Limited, an Indian conglomerate holding and 2nd largest giant by market capitalization

operates in exploration, production, refining of oil & natural gas, petrochemicals, textiles, retail and

telecommunications. (Sept’2013 – Jan’2014)

(b) Hindustan Zinc Limited, a Vedanta Group company and an integrated mining & resource producer of zinc,

lead, silver & cadmium. (Apr’2012 – Sept’2013)

(c) Atul Limited, one of the oldest industries integrated in textiles & chemicals. (Apr’2012)

Principal Firm: M/s Sarupria Somani & Associates, Chartered Accountants, Udaipur (Raj.)

Key Tasks undertaken:

A. Financial Planning & Taxation:

Analytical reviews of financial statements such as variance analysis, trend analysis and ratio

analysis for the purpose of Statutory and Tax Audits.

Performing functions to comply with statutory requirements such as preparation and filing of

Income tax, Service tax & TDS returns.

B. Internal Control & Risk Assessment & Audit Assignments of Companies and Banks:

CRI Pumps Pvt. Ltd., Udaipur Branch (worldwide manufacturer of pumps & motors)

94.3 My FM, Udaipur (A Unit of Synergy Media Entertainment Ltd.)

State Bank of Bikaner & Jaipur, SBSC Branch, Udaipur (Raj.)

State Bank of Bikaner & Jaipur, Surajpole Branch, Udaipur (Raj.)

UCO Bank, Bapu Bazar Branch, Udaipur (Raj.)

Allahabad Bank, Bapu Bazar Branch, Udaipur (Raj.)

Work Experience (During Article ship)

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C. Stock Audit assignments to identify and assess the present methodology & efficacy of inventory &

receivables accounting & management:

M/s PI Industries Limited

M/s Wolkem India Limited

M/s Fimakem India Limited

M/s Mithila Drugs Private Limited

D. Filing of Annual returns, ROC search & Charge creation of companies and securitization work under

SARFAESI Act in respect of Banks.

Cleared all CA Examinations in Single shot. CA – Final in Nov’2011 (51%), Membership No. 417388

Graduation – B.Com in 2011 (65%)

Sr. Secondary (12th) in 2008 (83%)

Secondary (10th) in 2006 (82%)

NSE’s Certification in Financial Markets.

Financial Markets: Beginner’s Module cleared in May, 2013 (86%)

Banking Sector Module cleared in July, 2013 (61%)

Working Knowledge of latest ERP Packages (SAP), software pertaining to Retail Operations (SAP POS,

Retail Pro – POS controls), Audit Management Packages (MKinsight) and Banking Solutions (FINACLE) etc.

MS-Office (MS-Excel & Power point as significant tool for auditing and reporting respectively.)

Completed 100 hours Information Technology Training provided by ICAI.

Secured 1st position in Quiz Contest organized by Udaipur Branch of CIRC of ICAI and represented Udaipur

Branch at Regional level Quiz Contest held at Agra in September 2011.

Received “Best Article Assistant of the Year 2010-11 Award” during Article ship training.

Founder & Executive member of 10 Foundation: A step to uplift the education standards in our society.

A consistent participant in stage activities, music shows and other co-curricular activities.

Professional & Academic Qualification

IT Proficiency

Achievements