Manager Statutory reporting and Compliance
4 days ago
Financial Objectives, Controls and Reports:
• Support the department head in the implementation of financial plans related to Financial Accounting in order to meet the departmental objectives and ensure financial stability and cost benefits for the organization. Assess and measure control measures for Financial Reporting.
• Maintain Chart of Accounts (COA) and General Ledger (GL) Hierarchies/Organization Structure, which includes managing the process for COA and Hierarchy change requests from Entities while adhering to a control framework. Liaise with other Group entities as needed to ensure compliance with Groups COA structural requirements.
• Responsible for the issuance of consolidated and standalone statutory/financial statements and reports, audit coordination, and financial accounting and schedules in line with Company policies and procedures to ensure compliance with relevant financial reporting standards such as IFRS for all entities.
• Generate Ad Hoc Reports as required by the business and external third parties by coordinating with the concerned departments for information needed for consolidating the reports.
• Provide quarterly/semi-quarterly and consolidated regulatory and financial report(s) on non-compliance and governance with recommendations and corrective actions for decision-making to senior management to facilitate informed decisions.
VAT:
• Manage monthly VAT return preparation, review, and submission process. Review, reconcile, and approve monthly VAT Returns to ensure accurate, timely, and complete submission of VAT returns. Collaborate with VAT consultants for accurate and efficient submission. Stay updated on current VAT and excise duty regulations and changes to apply as per business requirements.
• Provide advice on general VAT liabilities and VAT implications of transactions to the wider business. Ensure adequate reflection of such transactions in the VAT return.
• Manage monthly VAT refund submission process and document information as applicable.
• Carry out ad hoc projects to review selected business activities and processes to manage VAT risks.
• Stay abreast of any new tax regulations, assess their implications on the company, and support in the implementation of new tax regulations in the company.
Corporate Tax:
• Ensure compliance as per applicable laws and requirements by reflecting correct accounting treatment.
Systems:
• Provide input for the development and enhancements of systems in coordination with other concerned departments to meet departmental business requirements and to be in line with best standards.
• Provide inputs and suggestions for continuous improvement of Financial Reporting processes and practices, taking into account 'International Best Practice' changes in International Standards and changes in the business environment which demand proactive action plans in line with company objectives.
GL Activities:
• Review monthly financial accounts, balance sheet schedules, management reports, and financial analysis within stipulated deadlines.
Audit:
• Schedule Internal/External/Government/Third Party audit activities and prepare for the auditing of financial data. Assist the auditors in completing audits as per the schedule.
• Prepare action plans for audit findings and interact internally and externally to ensure all the audit findings are addressed and successfully dealt with, facilitating subsequent audits. Maintain and manage audit clearance and external audit ICR (Internal Control Review) documentation.
Policies, Processes, Procedures, and Practices:
• Provide inputs in developing financial policies, processes, procedures, and practices for financial management that ensure adequate financial controls over all company operations, thereby ensuring cost advantages in all its resource utilization and financial activities.
• Review and evaluate the financial information periodically/regularly to ensure compliance with company policies and procedures and effective control within the company.
Advisory and Leadership:
• Provide support to the team in interpreting, analyzing, and concluding the financial accounting issues related to the application of Internal Policies and Accounting Standards.
• Conduct in-house training for team members to keep them updated regarding the standards for financial accounting and ensure timely resolution of their queries.
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