Internal Auditor
C1 (Concept One)
مجموع سنوات الخبرة :27 years, 0 أشهر
I have been hired in C1 Company during Feb. 2014 as an Internal Auditor.
Working as an Internal Auditor. Reporting direct to CEO (Chief Executive Officer):
Key responsibilities:
• Ensure that the company’s procedures and policies are followed and complied with.
• Identification of processes weaknesses and provide recommendations.
• Evaluation of adequacy of the corrective action to improve deficient conditions.
• Evaluate the effectiveness and completeness of controls through risk based audit programs.
• Attend meeting with Auditees to discuss the audit reports.
• Prepare audit reports and observations.
• Checking that financial reports and records are accurate and reliable.
• Make preliminary recommendations to counter flaws in the control system.
• Participation in special audit assignments.
• Perform special assignments including investigation of frauds and irregularities to evaluate a specific situation.
• Keep documents and maintain records of activities and process workflows.
• Conducting follow up audit assignments to ensure the compliance of weaknesses identified during the Audit program.
FINANCIAL REPORTING TO THE MANAGEMENT
Prime object: To keep the management informed of the operation of the Company whenever requires and on monthly, quarterly and yearly basis which includes the following Information.
Balance sheet / Cash Flow statement
Profit and Loss Accounts
Submission of Financials to Stock exchanges, SECP & Process financial papers for Board meetings
Coordination with the Audit team of external Auditors “A.F. Ferguson and Company”.
INTERNAL AUDIT PLAN- “AS A SPECIAL JOB”
Prime object: to implement special Audit plan on the directives of the management whenever it requires. It also includes the audit of other departments with the co-ordination of the internal audit team.
COST AND BUDGET ACCOUNTING
Prime object: Implementing costing procedures to control the cost of the Product and to establish price of the product.
Review Batch Cards for the different products.
Product costing for the BOPP/CPP Films products
Contribution Analysis to optimize the product mix.
Review annual budget of the Company
SALES & ACCOUNTS RECEIVABLE MANAGEMENT
Prime object: timely information to management for critical customer’s balances and keep close eye on the ageing days of the accounts receivables.
Monitoring product/region wise sales position on daily basis
Review and monitoring fortnightly preparation of region wise customer’s accounts receivable aging report and pending/overdue invoices report and recommendations to the management to tighten control over critical customers
Monitoring monthly sales tax returns of the Company and coordinate with the Sales tax department regarding “Sales Tax Refund” cases
ACCOUNTS PAYABLE MANAGEMENT
Prime object: smooth functioning through un-interrupted supplies, and buildup company’s goodwill through timely payments to suppliers.
CASH & BANK MANAGEMENT
Prime object : Strict Internal controls, follow-up, help management to reduce finance costs
Monitoring All bank balances on daily basis and keep close eye on funds movements
Arranging short and long term loans for the Company and fight for best rates
Monitoring and renewal of all agreements with banks
Monitoring and Review of reconciliation of more than 23 banks
PAYROLL MANAGEMENT
Prime object: To pay timely disbursement of the salaries to the staff / senior management.
Monitoring and checking of monthly salaries of the staff and its timely disbursement. Monitoring Tax matters of the staff and their annual return at the end of the financial period Process and ensure timely payments for bonuses, leave encashment, final settlements and other benefits
STORES ACCOUNTING
Prime object : monitoring consumption of Raw material, fuel & lubricants, packing, and spares used in manufacturing of products
Monitoring, review and reconciliation of book balances with physical stock positions on bimonthly basis.
IMPORTS MANAGEMENT
Prime object : Monitoring Letter of Credits, Landed Cost of Inventory/ Imported operating Fixed Assets
Liaising with Commercial department and Banks with regard to LC costs incurred
Ensure recording of all costs (Insurance, Freight, etc) with regard to letter of credit / registered contract
Monitoring Landed cost sheet and calculation of per unit cost of imported stocks-in-trade
EXPORT AND INLAND L/C’s MANAGEMENT
Prime object : Timely management information for compiling of Export receivables to ensure timely receipt of export/Inland L/C’s proceeds
Monitoring preparation of sales invoices related to Export/Inland LC Customer
Monitoring booking of collection from Export/Inland LC customers at the time of maturity / discounting of LC
Review fortnightly preparation of Export/Inland LC customers account receivable aging
Also monitoring the functions of Insurance policies, risk coverage, fixed assets management, Funds management (Provident, gratuity & pension) etc.
I am qualified accountant from Pakistan. Institute name is ICMAP. I am FCMA F-1480
