Sanchit A & Co, Chartered Accountants

At my practice I work directly with businesses and individuals on audit, advisory, tax and finance functions.

• Internal audit and IFC reviews — internal audits and reviews of Internal Financial Controls for manufacturing enterprises, including evaluation of revenue control mechanisms.
• Virtual CFO services — managing back-end finance operations for businesses, including stock management, costing, MIS reporting and financing arrangements.
• IPO readiness — advising growing entities on regulatory, statutory and financial compliance as groundwork for a future public listing.
• Ind AS advisory — implementation support on standards such as Ind AS 19 (Employee Benefits), Ind AS 12 (Income Taxes), Ind AS 116 (Leases) and Ind AS 115 (Revenue from Contracts with Customers).
• Direct tax — tax planning and return preparation for individuals and business owners, including capital gains computations.
• GST refunds — processing refund claims on exports and supplies to Special Economic Zones (SEZ).
• Technology-led compliance — building automation tools and workflows for tax liability computation, MIS Dashboards, GSTR-2B reconciliation, AIS/26AS retrieval and faster financial statement preparation.

IPO Preparation · Virtual CFO projects · Automation tools

GrandMark & Associates, Delhi NCR — Manager; now Independent Consultant

I led audit and advisory engagements for mid-sized and large enterprises, and continue to work with the firm as an independent consultant.

Statutory audit

• Led statutory audits, limited reviews and group reporting across banking, manufacturing, hospitality, metals and mining, diamond trading and gold manufacturing.
• Ran engagements for compliance with Ind AS, IFRS, CARO 2020 and Internal Financial Controls over Financial Reporting (ICFR).
• Handled specialised areas: revenue recognition (Ind AS 115 / IFRS 15), leases (Ind AS 116 / IFRS 16), financial instruments (Ind AS 109), deferred tax (Ind AS 12) and share-based payments (Ind AS 102).
• Led audit teams through planning, risk assessment, analytical procedures and final sign-off, and presented findings to management and boards.

Virtual CFO and tax

• Built budgeting models, cash flow forecasts and working capital plans for client businesses.
• Strengthened inventory controls and stock verification using automation tools.
• Assisted in income tax matters arising from search and survey proceedings (Sections 132 and 133A), including drafting submissions and appellate briefs.
• Supported senior partners on representations before the Income Tax Appellate Tribunal (ITAT).
• Managed corporate compliance across direct and indirect taxes, statutory filings and labour laws (EPF, ESI, Contract Labour Act).

SCV & Co. LLP, Noida — Associate; earlier Article Assistant

My articleship and early post-qualification years built the foundation in audit and reporting for listed and regulated entities.

• Listed manufacturing audit — statutory audit and limited review of a listed manufacturer, focused on revenue recognition, cost mechanisms, ICFR, accounting for tax and litigation settlements, secretarial compliance and BRSR reporting.
• Banking audit — audit of a listed small finance bank, covering listed debenture compliances and certifications, borrowings and refinancing, and verification of advances under RBI norms (IRAC and automated provisioning).
• IPO assignment — transition of financials from Indian GAAP to Ind AS and compliance with SEBI ICDR Regulations, 2018.
• GAAP transitions — conversion engagements from Ind AS to IFRS and from AS to Ind AS.
• First-year audits — led a team on a first-time audit in the fertiliser and agritech sector, including reporting for discontinued operations and restructuring.
• Consolidation — standalone and consolidated financial statement audits of investment entities and promoter groups in hospitality.
• Trusts and compliance — accounting and income tax compliance for a charitable trust, including FCRA, 2010 compliance on foreign contributions; preparation of financial statements and monthly MIS.
• Tax and GST — TDS returns, income tax returns for individuals and companies, GST registrations, and reconciliation of GSTR-9 with GSTR-1 and GSTR-3B.

Industries I Have Worked With

• Banking and financial services
• Manufacturing — metals, ferro alloys, apparel, fertilisers and agritech
• Hospitality, banquets and catering
• Mining, including sand mining
• Diamond trading and gold manufacturing
• Investment entities and promoter groups
• Charitable trusts and not-for-profits

Qualifications and Tools

• Chartered Accountant — The Institute of Chartered Accountants of India (ICAI)
• CS Executive — The Institute of Company Secretaries of India (ICSI)
• B.Com (Hons.) — University of Delhi
• Tools: Tally Prime, ERP systems, CaseWare, Computax, MS Excel, Word and PowerPoint

Beyond the Practice

Professional Directorship at MASS Financialhealth Limited

Sanchit Arora holds a professional directorship at MASS Financialhealth Limited (massfinindia.com). This professional association provides additional perspective on business decision-making, governance and financial management.