Mahesh Kaushik

F/103, New Girnar C.H.S. Ltd.,

Near Patankar Park, Station Road,
Nallasopara (W) – 401203.
mahesh.kaushik.14@gmail.com
Mob: 9665244907
DOB: August 25, 1995.

Finance professional with experience in domains of Audit, Accounting & Taxation. Seeking to leverage
skills & knowledge gained to develop in this discipline while contributing towards company’s Success
And to acquire a challenging position to flourish in this ever-changing dynamic industry.

PROFESSIONAL EXPERIENCE

M/S. SWAROOP JAIN & CO | CHARTERED ACCOUNTANTS, Goregaon, Mumbai

Audit Executive November 2018–Present

• Concurrent Audit of Reputed Banks

The key areas that are broadly covered under Concurrent Audit are as under:-

- Vetting of advances; ensure compliance of sanction terms and execution of Legal Documents
- Adherence to KYC / AML guidelines including monitoring of transactions in accounts, compliance with Foreign
Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS), reporting of CTR/STR,
maintenance of records as laid down under KYC/AML norms.
- Monitoring of suspicious transactions through exceptions report.
- Monitoring of High value cash transaction for AML compliance.
- Cash: all transactions like handling of cash by all personnel denomination-wise
- Cash retention limits: general discipline in following the Bank’s cash procedures.
- Cash verification of onsite and offsite ATM’s
- Documentations creation of security, mortgages, registration of charges, registration of MODTD relating to new
credit approvals / enhancement; disbursals, compliance to covenants and legal audit.
- Income leakages, as related to collection of interest, penal interest, commission, exchange, processing,
commitment and inspection charges.
- Expenses : Vouching of all Branch / Department expenses.
- Discretionary Powers: whether the transactions handled and approved are as per the discretionary powers
vested with the Branch / Department personnel and verification of necessary approvals thereof.
- Insurance: cover for Bank’s properties; also those as related to loan assets sanctioned.
- Reconciliation of internal office accounts as per guidelines laid down in their SOPs
- Ensuring that the Branch gives proper compliance to the Internal Inspection/Audit reports.
- Verifying the statements, HO returns and statutory returns submitted by the Branch.
- Analytical reports on Borrowal accounts having limits of Rs.1.00 crore and above to be compiled for the half-
years ending March and September
- Inspection of borrowal units / godowns / fixed assets / stocks under pledge /hypothecation and reports
submitted on prescribed formats. The inspection shall cover maintenance of stock register, insurance register
etc.,
- Identification, enumeration, categorisation and reporting of NPA accounts.
 - The Department / Branches which handles DEMAT accounts, verification of IPO transactions, verification of the
relevant procedures being properly followed in respect of opening of DEMAT accounts as per Depository
norms/rules and verification of periodical share transfers /settlements as per the laid down systems &
procedures.
- In case of department handling foreign exchange business, the Concurrent Auditor will place special attention
to confirm that all key transactions / decisions are aligned to the Bank’s policy parameters, that they are within
delegated authority, within risk / cut-loss guidelines, that the front, mid and back-office functions are that,
there are as per laid down procedures and policies of the Bank and to ensure no FEMA violations.

• Reconciliation of Old office accounts of a Reputed Bank.

- To check the basis on which the reconciliation has been done by the Verticals/Departments;
- To check the basis on which the entries have been matched/reconciled;
- To check the amount written back/written off;
- Checking of Approvals for amounts written back/written off;
- To check whether the Department has put a SOP in place& whether the SOP is incorporated in operations;
- To comment on whether the Verticals/Departments have followed the instructions issued by FAD regarding
Process and guidelines on reconciliation, monitoring and reporting of other Assets & Other Liabilities (Office
Accounts).
- To give suggestions for improvement based on findings.

• Revenue Audit of Banks.

- Verification of all income heads and expenses heads w.r.t. income recognized and expenses charged.
- Correct recovery of charges as per the Bank’s schedule of charges.
- Application of Interest & Penal Interest on advances.
- Advances related charges - Inspection Charges, Commitment Charges, Review Charges, Solvency Certificate
issue charges, Nominal Membership Fees, Regular Membership Fees, CERSAI, CIBIL, etc.
- Loan Processing charges as per sanction terms and charter of service charges.
- Commission charges, Locker Rental charges and any other income.
- System Parameters are in place for recovery of charges and there is no revenue leakage.
- Providing suggestions to circumvent leakages observed during the audit.

• Stock Audits of multiple companies & NBFCs

- Compliance with terms and conditions of sanction.

- Timely & adequate submission of stock statements & other important financial information.
- Account operations – overdrawing, credit summation and cash withdrawals.
- Drawing power calculations by banks and by the auditors & discrepancies, if any along with the reasons.
- Physical maintenance and storage of stock and adequacy of facilities at the borrowers place.
- Systems / procedures implemented by borrower to identify the slow and non-moving stock items.
- Borrower’s Management information system, its adequacy & Internal controls to safeguard stock.
- Method of valuation of stock, time interval for valuation and adequacy & sufficiency of procedures thereof.
- Vetting for Availability & Adequacy of Insurance for stock& assets pledged against the Exposure.
- Analysis for adequacy of Charges created with ROC & reporting of discrepancies, if any.
- Verification of Debtors& Analysis of End-use of funds from Banks statements.
- Verification of Turnover from GST returns & Analysis of QIS.
- Pre & Post discussion of Finding & Observations with the Banks.
- Analysis of Key performance indicators; reporting position of Statutory dues & disputes
• Agency Specialized Monitoring of a Major NBFC with loan exposure of Rs.4,900Crores.

- Monitoring the purchases / invoices of the company (about quantum and reasonableness of the rates) for
procurement of raw material / spares / transportation of raw material etc., on daily / weekly basis and
compare vis-a-vis monthly operation budget submitted by the company. Periodicity would be decided on
case to case basis I Consortium.
- Review of inventory build-up (including trade receivables and advances to the Company) for operation of the
units commensurate with funds released.
- To monitor the actual operations (production I supplies etc.) vis-a-vis projections.
- Verification of high value transaction / payment as regards beneficiary and purpose.
- Assessment of financial information that has been and that will be provided by the company to its lenders
including information related to its short term and long term cash flows.
- Identify key issues and submit the report along with the suggestions with regard to smooth operations of the
project.
- Additional verification of evidence of end use of facilities to company and its utilisation as per the conditions
laid down by the lenders I consortium of lenders.
- Inspection I verification of stock / book debts and submission of monthly report (or as stipulated by lenders)
about the inventory receivables position of the company including slow moving inventory if any, to arrive at
correct drawing power to the company

- Submission of reports at regular intervals (say at quarterly interval or as stipulated by the Member Bank) on :
i. Temporary / Long Term / unscheduled closure of manufacture facilities.
ii. Any untoward incident or suspicious business or unrelated activity.
iii. Non-cooperation from borrower to provide general information.
iv. Source of margin towards working capital / LC / BG
v. Quality of Book Debt, their appropriateness, age wise classification and eligible book debts for Drawing
Power.
vi. Confirmation on availability of adequate insurance for the securities / Stocks / Assets with Bank clause
noted.
vii. Monitoring of milestones in case of implementation of contracts against which performance Bank
Guarantees have been issued
viii. Monitoring of ESCROW accounts / designated accounts to verify and ensure that the advance payments
against guarantees issued are received in designated accounts.
ix. Perform such other services as requested by the lenders and mutually agreed to by the party and lenders.
x. Details of related party Transactions and comments thereon specifically for Arm's length dealing between
the related parties
xi. Stock Audit / BG Audit etc. (However, in the event of non-availability of such expertise with ASMs, the
operating unit may assign task of such audits independently to other entities. However, it should be
ensured that there is not "overlapping / duplication" of task allotted to the ASMs and other entities).
xii. Monitoring of cash flows (both inflow an outflow)
xiii. Validating of securities offered - highlighting inflation of value of stocks I higher valuation of securities.
xiv. To highlight diversion of Short Term funds for long term uses.
xv. Highlight diversion of funds for purposes other than stipulated in sanction.
xvi. Any other services requested by the Lender(s) / Consortium.
M/S. CA UMASHANKAR GUPTA & ASSOCIATES Malad, Mumbai
Tax & Audit Assistant September 2017– July 2018
• Accounting-Day to Day Entries in Tally ERP 9.0 Software.
• Audit - Vouching, Verification & Scrutiny of Books of Accounts.
• Preparation & filing of monthly GST & TDS.
• Preparation of Monthly MIS data
• Finalization of Books of Accounts.
• Income Tax Department Visits & Work Related Research.

EDUCATION

MUMBAI UNIVERSITY K.G.Mittal College, Mumbai

Bachelor of Commerce 2016-17

MUMBAI UNIVERSITY K.G.Mittal College, Mumbai

Higher Secondary Certificate 2012-13

MAHARASHTRA STATE BOARD SV High School, Virar

Secondary School Certificate 2010-11

ADDITIONAL SKILLS

• Maintaining a positive working relationship within a busy working environment and supporting other team
members.
• Proactive approach to daily routines, able to do repetitive work accurately for long periods of time.
• Comprehensive Knowledge of Microsoft Excel and Other Microsoft Programs.
• Knowledge of Accounting & Stock and Understanding of Taxation.
• Comprehensive knowledge of Tally ERP 9.0 & QuickBooks accounting software.
• Knowledge of Finacle ERP 10 & SAPERP software.
• Well Versed with Internet.

Current CTC: 12,000 Expected CTC: 18,000 - 21,000.

DECLARATION

I hereby declare that the details furnished above are true and co rrect to the best of m y knowledge
and belief and I undertake to inform you o f any changes therein, immediately. In case any of the
above information is found to be untrue or misleading, I am aware that I may be held liable for it.