Meet Somaiya

Experience

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  Bhavesh Mehta & Co

  Sept 2012 - May 2013

  Article

  • Conducting concurrent audit of the Export Credit Guarantee Corporation of India (ECGC) Head Office- Mumbai and scrutinizing the implementation of standard operating procedures, testing the samples for key controls, preparation of weekly reports for findings, variance analysis and recommendations for the same to management. • Verifying the contracts and agreements with the parties for export insurance.• Preparation of Foreign Remittance Certificates (15CA and 15CB) for various clients and thoroughly studying the DTAA and TDS rates applicable for the transactions entered into by the client. Show less

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  S.S Kothari & Co

  Jun 2013 - Jan 2016

  Senior Auditor

  • Worked as an audit in charge throughout all the phases of audit process.• Preparation of audit plans and scope.• Prepared and presented MIS Reports and Budgets.• Assignments covering areas such as Procurement, Purchases, Stores, Production planning, Sales & Marketing, Human Resource management, Safety, Training and Transport.• Verifying Internal Controls and carrying out Internal Audit providing suggestions for upgrading the ERP software and system which can generate different type of reports for management review.• Verification of various insurance policies taken by the organization along with its timely renewal and the premium outlay with the coverage of assets under insurance.• Review of business contracts with profitability and financial success in mind. • Analysis of Procurement: - Process for selection of vendors, reviewing the payment terms, negotiations of the contracts, Rate change analysis, Pending contractual obligations.• Analysis of Debtors and Creditors:- Ageing, Recovery procedures, Balance confirmation procedures and Legal cases.• Analysis of Stock and Stores: - Identification of Slow moving, Non-moving and Obsolete items.• Preparation and reviews of various reconciliation statements i.e. Bank, Cash and Inventory.• Physical verification of Fixed assets, Inventory and Cash.• Identifying the operational inefficiency and recommendation of necessary improvements.Statutory Audit• Statutory compliance, Ledger scrutiny, Preparation of Financial Statements and Consolidation.• Compliance with CARO 2003, Accounting Standards issued by The ICAI. Show less

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  Ellora Overseas

  Mar 2017 - now

  Business Owner

  Providing services of :• Accounting and Bookkeeping • Filling of GST returns • Filling of Income Tax returns• Income Tax and GST consultancy• Tax planning and management• On-site maintenance of Books of Accounts

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  Ghanshyam Enterprise

  Mar 2017 - Oct 2022

  Senior Accountant and Tax Consultant

  • Preparation and maintenance of financial statements.• Managing accounts payable, accounts receivable, and payroll department.• Critical Analysis of Suppliers ledger and Customers ledger.• Ensuring completion of monthly entries and bank/ cash reconciliations. Preparing vendor reconciliation to provide the management insight to forecast working capital requirements. • Perform financial analysis and reporting financial discrepancies to management and recommend effective solutions.• Verifying prepaid expense, depreciation, fixed asset schedule, and inventory.• Cooperating with external auditors to carry out annual external auditing, other financial management duties assigned by management. Show less

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  Dilip Auto Distributors

  Jan 2018 - Oct 2022

  Senior Accountant and Tax Consultant

  • Preparing and Filling of GST returns.• Complying with TDS and TCS rules.• Preparation and maintenance of financial statements.• Managing accounts payable, accounts receivable, and payroll department.• Critical Analysis of Suppliers ledger and Customers ledger.• Ensuring completion of monthly entries and bank/ cash reconciliations. Preparing vendor reconciliation to provide the management insight to forecast working capital requirements. • Cooperating with external auditors to carry out annual external auditing, other financial management duties assigned by management. Show less

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  Entigrity Offshore LLC

  Nov 2022 - now

  Tax Accountant

  Providing Tax and Audit service to US based client mainly in the field of Preparation of 1040, 1041, 1065 and 1120S.Also working as an associate in 401k Audits