Business Owner
Ally Consulting Services
Total years of experience :29 years, 3 Months
Offered financial services to small businesses, these services included financial planning, tax planning, risk management, investment planning and compliance to regulations affecting them.
United Yousef M. Naghi Co. Ltd operates through the entire Kingdom of Saudi Arabia and consists of the following divisions:
• United Naghi - LG consumer electronics
• United EDDY - furniture, appliances and consumer electronics
• United Gates - construction
• Ajwad - hospitality
Responsibilities and Key Achievements:
• Formulated strategies for the Internal Audit Department with clearly identified vision, mission and applicable short - term and medium - term targets
• Developed the Internal Audit Department’s audit manual, audit charter and adopted the COSO - Internal Control Integrated Framework as the preferred methodology
• Developed and executed long range risk - based audit plans that are congruent with the organisation’s objectives
• Maintain a current understanding of the latest global developments and regulatory and legal framework within which the organisation operates
• Assess and take account of macroeconomic and microeconomic factors and the impact on the organisation
• Prepared the annual financial budget for the Internal Audit Department
• Assessed the effectiveness of the internal control system, risk management system and corporate governance structure and worked extensively with management to ensure that they are working effectively
• Consolidate the risk management framework for the Group and monitor the relevance of the risks
• Developed the key performance indicators for the audit assignments and provided leadership and management of the entire Internal Audit Department activities in order to ensure that the department achieved its objectives and met its responsibilities
• Ensure quality control of audits by complying with the IIA standards
• Established the audit management information systems to ensure that the Internal Audit Department is equipped with adequate tools in performing its activities
• Implemented continuous monitoring using ACL CAATs
• I was the project auditor for the entire systems development life cycle of Eskom’s billing system (project cost R350 million)
• Perform presentations to the various management teams as well as to the audit committee on significant internal control, risk management and governance issues facing the Group
• Provide timely, efficient and effective updates on issues, opportunities and recommendations to line management as well as executive management
• Maintained professional and qualified staff with sufficient knowledge, skills, experience and ensured their ongoing training and development.
• Designed and implemented fraud prevention processes for the Group, also conducted forensic investigations when required
• Report suspected instances of conflicts of interest and unethical conduct and recommend action plans with management to address the issues
• Worked in close cooperation with the external auditors to facilitate their tasks and avoid duplication of effort
Pioneer Foods Group consists of the following divisions:
The Ceres Beverage Company;
South African Dried Fruit (SAD);
Bokomo Foods South Africa;
Bokomo Foods Namibia;
Bokomo Foods Zambia;
Bokomo Foods Botswana;
Bokomo Foods Uganda;
Sasko - Milling, Baking and Pasta;
Agri Division - NOVA Feeds, Tydstroom Chickens and Nulaid Eggs; and
Heinz Foods SA (Pty) Ltd
Group revenue US$2 billion and assets US$1 billion
•Establish audit plans and audit budgets for the Pioneer Foods Group Internal Audit department
•Identify and inform management, audit committee of the business risks facing the Pioneer Foods Group
•Consolidate the risk management framework for the Group and monitor the relevance of the risks
•Ensure quality control of audits
•Establish best practices for completing audits - adopted COSO - Internal Control Integrated Framework, busy with implementing use of ACL and auditing the SAP configuration controls.
•Ensure continuity regarding staff and administration issues
•Review working papers and reports to ensure that they conform with IIA standards
•Discuss audit reports with line management and executive management
•Manage and develop staff
•Perform presentations to the various management teams as well as to the audit committee
As a Senior Manager at Deloitte, I developed a deep understanding of the required standard of internal controls needed. My exposure to SOX assignments resulted in me becoming an expert on the required Internal Controls Financial Reporting needed to ensure the integrity of the reported financial information.
Managed the statutory audits of subsidiaries of large publicly listed companies that are listed on the JSE Securities Exchange, NYSE & LSE in the following industries:
• Construction
• Real Estate Investment Trust
• Income Producing Properties
• Hospitality and gaming
• Chemical manufacturing
• Manufacturing
• Healthcare
• Trade wholesale and retail
• Mining
• Utilities energy
• Public sector
Consulting - Internal Controls and Internal Controls Financial Reporting
• Drive the development and implementation of the enhancement of the company’s Internal Controls management strategy
• Own and lead the embedding of and communication on the Internal Control framework
• Drive, based on the risk register, the collection, integration and analysis processes of controls from all management levels, external and internal sources to ensure an effective and efficient control structure
• Lead from both in a technical and a project management capacity approved compliance review projects to successful completion
• Lead financial risk assessments with Business Units and Functions to drive the development, review and execution of the Internal Control Plan aspects (primary focus area of plan: Internal controls over financial reporting; secondary focus area: operational controls)
• Provide management with periodic assessments / reports on the progress of Internal Control implementation and the subsequent quality of the internal control in end-to-end processes
• Own the continuous improvement and enhancement of Internal Control capabilities, processes, including IT system enablement, and people within Corporate Functions and SBUs
January 1999 - February 2003
I was the Regional Finance Manager of Eskom Western Cape Region for the following divisions:
•Generation - this includes all the power stations located in the Western Cape i.e. Koeberg, Palmiet and Acacia
•Transmission office
•Distribution - (revenue US$ 350 million, assets US$ 150 million)
Main Responsibilities
• Providing leadership, direction and management of the finance and accounting team
• Monitor and direct the implementation of strategic business plans
• Develop financial and tax strategies
• Manage capital requests and budgeting processes
• Develop performance measures and monitoring systems that supported the Region’s strategic direction
• Implement operational best practises
• Monitor cash balances and cash forecasts
• Maintain a current understanding of the latest global developments and regulatory and legal framework within which the organisation operates
• Assess and take account of macroeconomic and microeconomic factors and the impact on the organisation
• Providing strategic recommendations to the Regional Executive Manager and members of the Executive Management Team
• Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
• Assessed the effectiveness of the internal control system, risk management system and corporate governance structure and worked extensively with management to ensure that they are working effectively
• Advising on long-term business and financial planning
• Establishing and developing relations with senior management and external partners and stakeholders
• Reviewing all formal finance, HR and IT related procedures
•Performed the statutory audits of subsidiaries of large publicly listed companies that are listed on the JSE Securities Exchange, London Stock Exchange in the following industries mining, telecommunications, motor, manufacturing and retail industries
Learnt how to perform internal audits at ESKOM through the various phases from planning, executing and reporting.
I also attended Fisher College of Business - Ohio State University for a quarter in 2004. Fisher College of Business ranking by the Economist Intelligence Unit in 2008 was 43rd world wide and 24th in the USA. My grades for the subjects that I did were also an upper second class pass. International Finance, Risk Management&Financial Engineering, Logistics Management
In 2003 I completed an MBA at the GSB UCT. The GSB – UCT has the EQUIS accreditation which is given by the European Foundation for Management Development. Furthermore the MBA programme and Executive Education short courses enjoy top international rankings. In 2009, the Financial Times in London ranked the UCT MBA in its worldwide top 100 for the fifth consecutive year and ranked it as the #1 MBA in the world on value for money and as one of the top five MBAs offered in an emergent market. I got an average upper second class pass in the following subjects: Accounting, Economics, Marketing, Bus Government&Society, Manufacturing&Operations, Info Systems, Communication Learning&Leadership, Data Analysis, Managing Organisation&HR, Finance, Strategy, Company Analysis, Corporate Finance, Management Control Systems, Modern Finance, Advanced Capital Budgeting, Entrepreneurial Finance, Game Theory, Design&Implementation of Operations Strategy, Company Valuations, I also attended Fisher College of Business - Ohio State University for a quarter in 2004. Fisher College of Business ranking by the Economist Intelligence Unit in 2008 was 43rd world wide and 24th in the USA. My grades for the subjects that I did were also an upper second class pass. International Finance, Risk Management&Financial Engineering, Logistics Management
I received an upper second pass for the following subjects: Basic Computer Auditing; Computer Assisted Audit Techniques; Systems Ananlysis, Design, Control and Audit; Computer Security Reviews; Systems Software; Information Analysis and Software; Internal Audit perspective and a Practical Application
The subjects that I completed were: Accounting 1-3 Auditing 1-2 Taxation Economics 1-2 Business Economics 1 Commercial Law 1-2 Financial Management Statistics