Harshit Shah

Qualified Chartered Accountant and Commerce postgraduate (specialisation in Accounting and Financial Management) from The Maharaja Sayajirao University (MSU) of Baroda. Currently serving as the Head of Internal Audit at Bajaj Consumer Care Ltd in Mumbai. Extensive experience in internal audit, process reengineering, SOX compliances, risk assessments, finance controller responsibilities, and controls enhancement.

Recognized for excellence across multiple multinational organizations. Extensive offshore international auditing experience across the MEA, USA, and UK regions.

Head of Internal Audit at Bajaj Consumer Care Ltd. (2023-10 – Mar26)

• Guided and managed the internal audit function to ensure full compliance with regulatory standards, while enhancing operational efficiency throughout audit execution. Regularly presented findings to the quarterly Audit Committee
• Implemented robust risk management strategies, identifying, and mitigating potential risks to safeguard company assets and reputation and presented to the Risk Management Committee of the organisation
• Spearheaded process improvement initiatives, streamlining audit procedures and enhancing the overall effectiveness of internal financial controls
• Managed end-to-end investigations and special assignments, culminating in presentations to the Ethics Committee.
• Provided strategic insights and recommendations to senior management, contributing to informed decision-making, and driving organisational growth

Senior Manager Internal Audit and Investigation at TotalEnergies Marketing India Pvt. Ltd. (2022-07 – 2023-10)

• Conducted fraud investigations as a core member of the in-house audit team
• Executed in-house audit assignments and conducted comprehensive business process reviews
• Evaluated entity-level risks and contributed to the development of a new Enterprise Risk Management (ERM) framework as part of a global risk mapping initiative (APAC and Europe compliance)
• Monitored compliance with anti-corruption and anti-fraud regulations
• Played an active role in Local and India Ethics and Integrity committees, addressing incidents concerning human rights, code of conduct, fraud, corruption, and influence peddling

Manager - Internal Audit at Pidilite Industries Ltd. (2019-08 – 2021-09)

Internal Audit (Aug'19 to Sep'21) covering India, USA and MEA regions

• Conducted internal audit assignments and spearheaded fraud investigations as a vital member of the in-house audit team
• Evaluated and enhanced the existing framework of Internal Financial Controls (IFCs), enabling the organization to conduct self-assessments effectively
• Identified entity-level risks and developed comprehensive mitigation plans within the Enterprise Risk Management (ERM) framework.
• Identified control gaps and recommended strategies for enhancing business operations and efficiency.
• Conducted systems walk-throughs and identified control gaps within various business applications to strengthen internal controls and mitigate risks effectively.

Business Finance Manager at Pidilite Industries Ltd. (2021-09 – 2022-07)

Finance Controller role specializing in fixed and variable expense budgeting, monitoring, and process optimization

• Conducted comprehensive reviews of expenditures at the Pidilite level, encompassing budgeting, monitoring, and identifying opportunities for improvement.
• Identified accounting and reporting issues, conducting financial evaluations to assess effectiveness and ensure accuracy.
• Collaborated with cost owners to develop and implement cost-saving initiatives, closely monitoring their progress.
• Facilitated internal and cross-functional review meetings to foster collaboration and alignment across departments for enhanced operational efficiency.

Manager Internal Audit at Welspun Corp Ltd. (2018-12 – 2019-07)

• Performs audit procedures to verify that controls are operating through testing and interviewing techniques for Anjar, Dahej, Mandya, Saudi Arabia (KSA), and Littlerock (USA) locations
• Plans financial, regulatory, compliance, or operational reviews/audits
• Conducted risk assessments and identified controls in place to mitigate identified risks
• Identifies control gaps and opportunities for improvement
• Prepares timely audit reports and Audit committee presentations for the MD and the Board of Directors
• Provides advice on internal control and participates in enhancing internal audit standards and practices

Internal Audit Manager at Reliance Industries Ltd. (2015-08 – 2018-12)

• Executed process-based internal audits across major petrochemical sites (Vadodara, Hazira, Nagothane, Dahej, Silvassa, GCPTCL JV and Malaysia Recron) ensuring operational and control effectiveness in SAP environment
• Reviewed MIS, budgets, inventory management, and fixed assets processes, ensuring accurate capitalization, codification, insurance, and physical verification
• Led special audits involving fraud investigation, root cause analysis, and process improvement implementation
• Highlighted critical control gaps and system issues (inventory modelling, shelf-life management), presented to BRAC and Audit Committee
• Collaborated with site and corporate management for remediation of high-risk observations and process enhancement
• Utilized GRC, AMS, Lumira, and Tableau tools for risk assessment, data validation, and analytics-based audit reviews.
• Conducted Internal Financial Controls (IFC) and ICFR testing, evaluating control design, operating effectiveness, and recommending system improvements

Manager in CA firm at Y Iyer & Co. (2015-03 – 2015-07)

• Actively handed the assignments for internal audits and assurance services including assessment proceedings
• With respect to advisory services, engaged in management consultancy work for very well-known malls, restaurants, and construction companies located in Vadodara

Article ship in CA Firm at Ambalal M Shah & Co. (2011-08 – 2014-08)

• During my article-ship, I got exposure to various fields namely, Audit (Statutory audit & Internal audit, Bank Audit)
• Advisory (Tax Planning, Drafting of Deeds & Agreements), Taxation (Tax audit, Income tax computations & representations before Income tax and Wealth Tax authority), Handled review of Public Companies, closely held groups, Pvt Ltd. Companies, infra companies, and Banking companies.

Certification course in Forensic accounting and fraud investigations – Gujarat Forensic Science University of Gandhinagar (2017-11 – 2017-11)

M.Com in Accounting and Financial Management – M.S. University of Baroda (2013-03 – 2015-04)

B.Com in Commerce – M.S. University of Baroda (2010-03 – 2013-03)

H.S.C. in Class XII – Gujarat Secondary & Higher Secondary Education Board (2008-03 – 2010-03)

S.S.C. in Class X – Gujarat Secondary & Higher Secondary Education Board (2006-03 – 2008-03)