I. Profile

Sanjay Aditya & Associates (Firm) was registered as an audit firm with the Institute of Chartered Accountants of India on 6th April 1992. The proprietor of the Firm, Sh. Sanjay Agarwal is a fellow-member of the Institute with 25 years in full-time practice. As partner of M/s Bahl Gupta & Associates from 1986 till 1992, and later in independent practice, he gathered extensive experience in internal audits, management audits, balance sheet audits, income tax work, and management consultancy. This work was mainly related to the corporate sector and included such industrial groups as Eicher (tractors and LCVs), Samtel (television picture tubes), Nirula’s (restaurants and hotels), and HCL (office automation).

II. Experience and Expertise

From 1994 onwards, the Firm has been working exclusively with the not-for-profit sector only. Over this period, Sh. Sanjay Agarwal and the staff of the Firm have regularly traveled to over 650 NGOs all over India to provide accounts training and for review of internal controls and accounts on behalf of the Clients. During these visits, they have toured the program area to get a first-hand idea of the issues and their reflection in budgets and accounts.

The understanding gained through these visits and interaction is shared with the NGOs and grant-making agencies during workshops on FCRA, NGO accounting and related laws. They have also been helping strengthen internal control and financial monitoring systems at various organizations.

The Firm also contributes to research on laws related to NGOs such as FCRA, Society’s Registration Act, Income Tax Act. This information is disseminated through publications brought out by AccountAid India (www.AccountAid.net).

The Firm is providing various services to the development sector, such as Audits, Consultancy, Systems Design Advice and Workshops. As a standard conflict-of-interest policy, the firm works mainly with grant-making Agencies. It does not accept fees or fee-based assignments implementing NGOs, unless these are requested by a client Agency.

III. Work Done

Audits & Financial Reviews

q  Statutory Audits

q  Project Audits

q  Internal Audits

q  Financial Reviews / Project Audits of Grantees / Partners of client Agencies

q  Field visits for financial and advisory support to NGO partners of client Agencies

Systems Design

q  Study of accounting systems and development of Accounting Manual for a client ageny’s partners in India, including a web version of the manual (1999). Revised version released in 2005

q  Designing of Handbook of Accounting for partners of a national Agency in India: 2006

q  Designing of Grant Making and Monitoring System – User Guide for for an INGO, Delhi: 2007

q  Designing of automated Spreadsheet and Handbook on Financial Reporting Requirements for a Foundation’s partners: 2008-10

Research and Publications[1]

q  Authored ‘Daan and Other Giving Traditions in India’, AccountAid India (www.AccountAid.net): 2010

q  Technical design and write-up for ‘AuditAble’, a quarterly note for Auditors: 2007 onwards

q  Technical design and write-up for ‘AccountAble’, a monthly topical guidance note for NGOs on accounting and legal issues (150 issues so far). Also involved with the Hindi edition, titled ‘Lekha Yog’ and the Asia edition called 'AccountAble Asia': 1994 onwards

q  Edited ‘AccountAble Handbook on FCRA’ published by AccountAid India (www.accountaid.net): 2002

q  Edited ‘AccountAble Handbook on NGO Accounting and Regulation’ published by AccountAid India (www.accountaid.net): 2002

q  Co-author of India chapter of ‘Philosophy and Law in South Asia’, published by Asia Pacific Philanthropy Consortium, Philippines (2004).  Revised 2007.

q  Research on law related to FCRA. 1993 onwards

q  Development of risk management tools such as ABCD Grid, ABS Checklist, Financial Profiles and ‘Financial Indicators Checklist’, Financial Environment Risk: 1996 – 2005

q  Application and development of Financial Risk Management to non-profit grant-making: 1998 – 2000

q  Development of Financial Risk Assessment and Mitigation System (FRAMS) for NGO audits:2008-09

q  Development of specialized financial ratios for non-profits, including Financial Growth Rate: 1998 – 2011

Capacity-building

Workshops on Financial Management, Accounting and laws related to NGO sector in India: 1996 onwards

·        for partners of  national and international grant-making donor agencies

·        for Grant Makers

·        for NGO auditors

Regional workshops on accounting standards, NGO regulation, financial monitoring and related issues:

·        Beijing: 2010

·        Bangladesh: 2000, 2004, 2010

·        Kampala: 2008

·        Hanoi: 2008

·        Bangkok: 2006

Policy and Standard Setting

q  Served as member of Task Force on Laws relating to Voluntary Sector set up by Planning Commission (Government of India) (2000 – 2001)

q  Chaired the Legal and Financial expert group set up by Planning Commission (Government of India) to help redraft the National Policy on Voluntary Sector (2005)

q  Member of APPC steering committee on Accounting Standards for NPOs in Asia-Pacific (2005)

q  Facilitation of consultations on Accounting Standards in India (2005)

q  Chair of the Task Force on Central Law for VOs, set up by Planning Commission (Government of India)  (2008-2010)

q  Expert witness on FCRA Bill 2006 by Standing Parliamentary Committee on Home Affairs, Government of India (2008)

q  Member of working group on BIS standard for Governance  (2008-2011)

q  Member of drafting group for ICAI Guide on NGO accounting and Audit (2008)

Consultancy & Advice

q  Organizational Structure and Registration: 2011

q  Liaison Office Registration: 1996, 2000, 2011

q  Disbursal support: 2010

q  Financial and Systems advice: 2000-2005

q  Applicability of FCRA: 1998 onwards

q  Project Design for Bilateral Agencies: West Bengal, Gujarat: 2003, 2005

q  Handholding support to Partner organisationa:

q  Strengthening control systems - HIV/AIDS intervention project (Manipur): 1999

q  Indian program of an INGO: 1992-2000

IV. Staff Capacity

The Firm has a total staff strength of 20 persons, of whom 15 are directly engaged full-time in professional work. This includes four Chartered Accountants on full-time basis. All the professional staff use dedicated computers – the software and hardware is constantly upgraded for efficient working. As the Firm works only with NPOs and Grant-making Agencies, all staff members are familiar with the accounting practices and regulatory issues pertaining to the sector.

The firm uses DOVICO - Planning and Timesheet (www.dovico.com) to schedule assignments, allocate staff resources efficiently, and track time and costs.

Designation

Qualification

Post-Qualification Experience (yrs.)

Numbers

Audit Assistants

Graduate

0-3

8

Audit Executives

CA-Finalist

1-3

2

Anchor - Financial Analysis

MBA - Finance

2

1

Anchor – Planning & Finance

M.Com.

1

1

Audit Team Leaders

ACA

0-1

2

Manager - Audit & Assurance Services

ACA

5

1

Principal

FCA

25

1

 

 

Total

16

Contact Information

Name of the firm

Sanjay Aditya & Associates

Nature of the firm

Proprietorship Audit Firm

Full Postal Address

56 B, Pocket C, Siddhartha Extension,

New Delhi – 110014

Phone / Fax Number

Phone : +91-11-26347253

Fax : +91-11-26346041

Website

www.sanjayaditya.com

E-mail ID

info@sanjayaditya.com

 

Updated: 30-Apr-11



[1] Authored by Sri Sanjay Agarwal