iLabs Hyderabad Technology Center Private Limited
Website:
ilabsgroup.com
Job details:
Role SummaryThe Statutory Audit team member will be responsible for planning, executing and coordinating the statutory audit process for the entities within the investment group, including holding, operating and step-down entities. The role requires strong technical grounding in Indian GAAP and Ind AS, and the ability to liaise effectively with statutory auditors, internal finance teams and management across group entities, including cross-border and fund-related structures.
Key ResponsibilitiesStatutory Audit Coordination
• Plan and coordinate the year-end and interim statutory audit process across group entities in line with the audit timeline agreed with statutory auditors.
• Act as the primary point of contact for statutory auditors, ensuring timely provision of information, schedules, reconciliations and supporting documentation.
• Track audit queries, observations and action items to closure; escalate delays or contentious issues to the Head of Audit / CFO in a timely manner.
• Coordinate audits across multiple group entities, including the parent investment holding structures and operating subsidiaries, ensuring consistency of accounting treatment.
Ind AS / Financial Reporting
• Prepare and review financial statements, notes to accounts and disclosures under Ind AS / Schedule III (Division II) of the Companies Act, 2013.
• Provide technical support on Ind AS matters relevant to an investment group, including Ind AS 109 (Financial Instruments), Ind AS 110/111/28 (Consolidation, Joint Arrangements, Associates), Ind AS 103 (Business Combinations), Ind AS 32 (compound and convertible instruments), Ind AS 12 (Deferred Tax), Ind AS 116 (Leases), Ind AS 24 (Related Party Disclosures) and Ind AS 27/28 for investment entities, as applicable.
• Assist in preparation of consolidated financial statements, including elimination of intercompany transactions, minority interest and fair valuation adjustments where applicable.
• Support first-time adoption, transition impact assessments and technical position papers on new or amended Ind AS pronouncements.
Compliance & Documentation
• Ensure statutory audit compliance with requirements under the Companies Act, 2013, SEBI regulations (where applicable to group AIF/fund entities) and other regulatory frameworks relevant to the group.
• Maintain audit working papers, position papers and technical memos supporting significant accounting judgments and estimates.
• Coordinate with internal audit, tax and secretarial teams to ensure alignment on financial reporting positions and disclosures.
• Support preparation and review of Board and Audit Committee materials relating to financial statements and auditor communication (e.g., CARO reporting, key audit matters).
Stakeholder Management
• Liaise with statutory auditors, group finance teams, and, where relevant, overseas counterparts for cross-border holding entities.
• Assist in coordinating limited reviews / quarterly financial closures where applicable.
Key RequirementsQualification & Experience
• Chartered Accountant (CA), qualified with the Institute of Chartered Accountants of India (ICAI).
• 3 to 4 years of post-qualification experience in a statutory audit function, preferably including exposure at a mid-size or large audit firm and/or in-house statutory audit / financial reporting role in a corporate or investment group.
• Prior exposure to audits of holding companies, investment entities, NBFCs, or group structures with multiple subsidiaries will be preferred.
Technical Skills - Essential
• Strong working knowledge of Ind AS and their practical application, with the ability to independently research and form positions on technical accounting issues.
• Familiarity with consolidation mechanics, related party transactions, and financial instrument accounting.
• Proficiency in MS Excel and financial reporting tools.
Technical Skills – Additional
• Sound understanding of the Companies Act, 2013 provisions relevant to financial statements, audit and Board reporting (including CARO).
• Working knowledge of direct tax law and procedure, including return filing, assessment and reassessment proceedings, and refund mechanisms under the Income-tax Act, 1961, in addition to tax matters intersecting with financial reporting (e.g., deferred tax, MAT).
Behavioural Competencies
• Strong analytical ability and attention to detail, with a structured approach to problem-solving.
• Ability to manage multiple entity audits simultaneously and work to tight statutory timelines.
• Effective written and verbal communication skills for liaising with auditors, management and cross-functional teams.
• High degree of ownership, integrity and professional scepticism appropriate to a statutory audit role.
• Ability to work independently as well as collaboratively within a small, high-accountability finance team.
What the Role Offers- Exposure to financial reporting and statutory audit across a diversified investment group structure, including holding entities, operating subsidiaries, and cross-border arrangements — offering meaningful technical depth in Ind AS application beyond a typical single-entity audit role.
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