Area Head - Store Operations Audit
Rustan Supercenters Inc.
Total years of experience :26 years, 0 months
The Area Head of Store Operations Audit is primarily responsible for the management of the shrinkage budget of all stores assigned by monitoring store operation compliance to procedures in the merchandise flow and continuously enforcing standardized auditing procedures and policies.
The Area Head of Store Operations Audit also plans, organizes, controls all activities of the store operations audit group in fulfilling audit check in key areas of the merchandise flow from the point of receiving to checkout. He shall monitor and supervise all stock correction activities of all stores and prepare standard and consolidated reports weekly, monthly, quarterly, and annually.
Major Achievements:
1. Developed and presented a business plan ("Shrink The Shrinkage") which was adopted by the Top Management as the overall direction of the company for the fiscal year 2007-2008.
2. Reduced company wide shrinkage from P96.44M in fiscal year 2007 to P46.30M in fiscal year 2008 through effective inventory management and development of preventive audit techniques such as:
• 100% analyses of SKUs wherein non-moving and slow moving were recommended for return to vendor and discontinue selling the same which resulted to less SKUs in every store (from around 8, 000 SKUs down to 3, 000 SKUs).
• Recommended whistle blower policy that led to the discovery of various employee frauds which was the major source of inventory losses.
• Recommended to include shrinkage management in the KPI of Store Managers including all other store personnel which eventually made them more concern in safeguarding the main asset of the company which is inventory.
• Developed a tool that enabled every store personnel to monitor their stocks (in selling area and backroom) from time to time and promptly discover any missing inventory.
3. Developed periodic reports that contained analysis which are very useful to store management especially in making decisions (e.g. SKU Profitability Report, etc.).
The Audit Supervisor is tasked to perform an independent, objective assurance and consulting activity designed to add value and improve the company's operations. He shall help the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
With commitment to integrity and accountability, the Audit Supervisor shall provide value to governing bodies and senior management as an objective source of independent advice. In addition, he shall develop guidelines for the internal audit group and manage its resources including the plantilla.
Major Accomplishments:
1. Developed a manual for internal audit department that contain guidelines in performing audit activities.
2. Developed a charter for internal audit department that define the group’s formal mission statement, authority and responsibility.
3. Provided the company a systematic audit planning process that ensure the audits are performed in the most effective and efficient manner.
4. Formulated risk-based annual audit plans that determine the priorities of the internal audit activity for an effective use of audit resources.
5. Discovered different employee irregularities and prevented recurrence of such through regular and surprise performance of audit.
6. Assisted the VP-Comptroller in the reorganization of the Accounting Department including hiring of competent staff.
7. Led the Accounting Software Steering Committee in sourcing for available accounting software in the market.
The Finance and Accounting Supervisor is responsible in all general accounting functions such as reviewing and supervising of payroll, accounts payables and receivables, fixed assets, cash, inventory, and other related general ledger functions and integrated systems.
The Finance and Accounting Supervisor shall also perform a wide variety of finance and accounting functions, such as: preparation, review and approval of journal/adjusting entries and month-end closing process; preparation of year-end financial statements and other finance statistical reports; audit coordination; budget preparation and monitoring; and chart of accounts over-site control.
Major Accomplishments:
1. Updated the backlog of previous Finance and Accounting Supervisor, reconstructed all accounting records, and produced financial statements with analysis which were not available before I joined the company.
2. Audited the previous year Sales Reports and Deposits of all branches and discovered Store Officers who are committing fraud.
3. Recommended the use of Peachtree Accounting software for computerized accounting system which also served as a tool for the President to view from time to time the financial standing of every branch even he’s in his office in Parañaque and even in his own house (through remote connection).
4. Reorganized the Accounting Department, appointed competent accounting staffs, disciplined existing ones, and got rid of stubborn and incompetent staffs (with proper documentation of negligence and corresponding disciplinary actions).
5. Provided the President with financial reports containing analysis and recommended action plans to improve performance of every company unit.
6. Spearheaded every company expansion particularly opening of new branches from conducting feasibility studies up to providing recommendations.
The Junior Accountant is accountable in preparation and maintenance of accounting entries/transactions, reports, invoices or other billing information, vouchers and other accounting documents particularly company books. He shall maintain and monitor petty cash fund and revolving fund.
The Junior Accountant is also responsible in preparation of government reports like BIR, SSS, and Philhealth. He is assigned as well in the preparation and distribution of payroll including preparation of periodic reports such as cash position, bank reconciliation, trial balance, income statement and balance sheet.