Compliance is another focus area. In today's complex regulatory landscape, it's essential to adhere to both state and national regulations. Deepak's team ensures that Somany Impresa operates within these guidelines, mitigating potential risks and maintaining a strong reputation.

"How we work in our environment or a process which is compliant with state and central rules and regulations is key. We’re committed to doing things the right way and following all the rules,” he emphasizes.

In the corporate world, efficiency often translates into cost savings, and this is another area where Deepak’s team delivers substantial value. He described the importance of re-engineering business processes to identify inefficiencies and speed up operations. “By reviewing various processes, we make them more efficient and cost-effective. We want to achieve business goals faster while reducing inefficiencies that cost the company,” he shares.

“For instance, a recent review of supply chain operations led to significant cost savings through optimized control mechanisms and automation,” adds Deepak.

As businesses grow, so too do the potential risks. Deepak and his team are dedicated to mitigating these risks and ensuring the highest standards of ethical conduct. They regularly review operations and investigate potential issues, always maintaining confidentiality and conducting thorough investigations. By proactively addressing concerns and implementing preventive measures, the team helps safeguard the company's reputation and financial health.

Deepak highlights the importance of aligning internal audit goals with the broader business strategy. By working closely with key stakeholders, the internal audit team ensures that their efforts directly contribute to the company's overall success. As he puts it, "Unless we align our goals with the company's, they won't truly resonate." He achieves this by maintaining regular communication with senior leadership, including the board of directors, the chairman, CFOs, and functional heads. “It’s essential to ensure that we are aligned with the Group's strategic goals and risk appetite,” he added. This alignment not only ensures transparency but also builds trust and transparency enabling effective collaboration and decision-making.

In an era where digital transformation is reshaping industries and businesses, the internal audit and forensic investigations team has fully embraced technology to enhance its audit and risk management processes. One of the standout initiatives he spearheaded was the implementation of an automated audit management tool that tracks audit observations, sends reminders, and ensures follow-through.

“We partnered with an external company to implement this tool, which helps us track audit recommendations and their implementation,” Deepak explained. The tool has streamlined the audit process by providing real-time updates and ensuring that corrective actions are taken promptly. "It keeps sending reminders until the issue is resolved, making it a two-way check that ensures accountability. This has significantly improved the efficiency and effectiveness of the audit process, enabling the team to focus on higher-value activities and deliver greater insights,” he elaborated.

For Deepak, fostering a culture of continuous improvement is crucial to staying ahead in the complex world of audit and risk management. His team participates in training sessions, attends industry conferences, and collaborates with external stakeholders to keep pace with regulatory changes and emerging trends.

“We have many forums and subscription-based services that provide updates on areas like GST and compliance. The team also attends industry conferences and leverages best practices from peers in the field, ensuring that they are always up to date with the latest trends and tools,” Deepak said.

Deepak has found a way to maintain balance between his professional responsibilities and personal well-being. A fitness enthusiast, he has been a marathon runner and ultra-cyclist for over 15 years. “Fitness has been part of my routine for years. After work, I go to the gym, and on weekends, I make time for running and cycling,” he shares.