Sohail Ahmad, Finance And Accounts Manager

Sohail Ahmad

Finance And Accounts Manager

Heritage Carpets & Furniture Group of Companies – Jeddah KSA

Location
Saudi Arabia
Education
Master's degree, MBA Finance
Experience
22 years, 10 months

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Work Experience

Total years of experience :22 years, 10 months

Finance And Accounts Manager at Heritage Carpets & Furniture Group of Companies – Jeddah KSA
  • Saudi Arabia - Jeddah
  • My current job since August 2016

As a head of Finance & Accounts Department, responsible for reporting to the Group Executive Management. (VAT, IFRS & ZAKAT)

Consolidation, Financial Analysis, Monitoring and Controlling:
- Consolidated financial statements of the group along with financial performance analysis, cash flow forecast and other reports;
- Regular Financial performance monitoring at group and subsidiary level, year-over-year and preceding periods and investigating & scrutinizing the results thereof.
- Preparing and presenting analytical Consolidated Financial Performance Reports.
- Protect operations by keeping financial information and plans confidential.

Statutory Reporting and Compliance:
- Providing the public accountant with all relevant information for the preparation of the annual financial statements;

Internal Controls, Policies & Procedures:
- Coordinated in establishing the Policies and Procedures in the areas of finance & accounting, costing, purchasing, inventory management for the entire group;
- Coordinating in planning the internal audit areas with management and ensuring timely execution across the group;
- Ensuring compliance with applicable laws and regulations. Advising the management on required actions to comply with the new laws;

Accounting of the Company and Group Treasury Management
- Overseeing the function of accounting, and ensuring accounting is performed in conformance with standards established by KSA authorities;
- Undertaking all bank related activities such as deposits and bank loans.
- Establishing, maintaining, and evaluating relationships with banking institutes to ensure successful long-term services.
- Prepare aging reports for debtors and chasing amounts outstanding beyond agreed terms;
- Designing and monitoring the implementation of a cash management system in order to ensure proper utilization of cash.

General Administrative Duties:
- Maintaining financial staff by recruiting, selecting, orienting, and training employees;
- Training of the staff in the using &extraction and analysis of various reports from accounting software;
- Specifying manpower requirements according to the recruitment and selection system and as per the human resources planning practices at the company;
- Maintaining financial staff job results by coaching, counseling, and disciplining employees; planning, monitoring, and appraising job results;
- Following-up employee affairs including vacations, leaves etc.

Chief Accountant at UMMAL QURA GROUP, MAKKAH AL-MUKARAMA, KSA
  • Saudi Arabia - Mecca
  • May 2012 to July 2016

Company Business:

A leading specialized health services provider in Makkah Al-Mukarama. Ummal Qura group comprises Former Ummal Qura Hospital Rusaifa, Ummal Qura polyclinic Kakiya, Ummal Qura Polyclinic Ummal Jood with Pharmacies & Optical Shops.

Position: Chief Accountant

Job Description: As a head of Accounts Department, responsible for reporting to the Group Executive Management.
Major tasks:

Consolidation, Financial Analysis, Monitoring and Controlling:
- Consolidated financial statements of the group along with financial performance analysis, cash flow forecast and other reports;
- Regular Financial performance monitoring at group and subsidiary level, year-over-year and preceding periods and investigating & scrutinizing the results thereof.
- Preparing and presenting analytical Consolidated Financial Performance Reports.
- Protect operations by keeping financial information and plans confidential.

Statutory Reporting and Compliance:
- Providing the public accountant with all relevant information for the preparation of the annual financial statements;

Internal Controls, Policies & Procedures:
- Coordinated in establishing the Policies and Procedures in the areas of finance & accounting, costing, purchasing, inventory management for the entire group;
- Coordinating in planning the internal audit areas with management and ensuring timely execution across the group;
- Ensuring compliance with applicable laws and regulations. Advising the management on required actions to comply with the new laws;

Accounting of the Company and Group Treasury Management
- Overseeing the function of accounting, and ensuring accounting is performed in conformance with standards established by KSA authorities;
- Undertaking all bank related activities such as deposits and bank loans.
- Establishing, maintaining, and evaluating relationships with banking institutes to ensure successful long-term services.
- Prepare aging reports for debtors and chasing amounts outstanding beyond agreed terms;
- Designing and monitoring the implementation of a cash management system in order to ensure proper utilization of cash.

General Administrative Duties:
- Maintaining financial staff by recruiting, selecting, orienting, and training employees;
- Training of the staff in the using &extraction and analysis of various reports from accounting software;
- Specifying manpower requirements according to the recruitment and selection system and as per the human resources planning practices at the company;
- Maintaining financial staff job results by coaching, counseling, and disciplining employees; planning, monitoring, and appraising job results;
- Following-up employee affairs including vacations, leaves …etc.

Manager/Financial Analyst (Revenue & Collection) at Pakistan Telecommunication Co. Ltd - Etisalat Pakistan.
  • Pakistan - Islamabad
  • September 2008 to May 2012

Organization Business:

Largest telecommunication service provider and GSM/CDMA operator in Pakistan along with infrastructure provider to other telecom operators and corporate customers in the country.

Designation: Manager/Financial Analyst (Revenue & Collection)

Job Description:
- Analysis of the company’s revenue and collection.
- Reconciliation of accounts, billing of non system and corporate clients.
- Reporting of company’s revenue and collection from all services seperatly & combinely on monthly basis.
- Customer dealing & customer care.
- Various analytical reports for evaluating the profitability of services for future decision making at regional level.
- Budget preparation at regional level, budget allocation and control.
- Monthly revenue & expense analysis for future decision making
- Billing of non system services provided to corporate customers.

Associate Consultant at Sidat Haider Morhed Associates (Pvt) Limited
  • Pakistan - Islamabad
  • May 2008 to September 2008

Organization Business:Management Consultants, Islamabad, Pakistan. (A member firm of Watson Wyatt Worldwide and formerly a part of Ernst & Young Pakistan)

Designation: Associate Consultant - Business Consulting.

Job Description:
- Providing objective input to the management of various clients and their audit committees on the effectiveness of the organization’s risk management and control assessment activities.

- Enhancing operational and financial audits to provide relevant risk, control, or process improvement recommendations to clients.

Foreign Assignment :( June 2008 to Aug 2008)
Seconded to Ernst & Young, Dubai office in Business Risk Services department for an assignment of internal audit of Al Ghurair Foods LLC.

Assistant Manger Internal Audit at Piage Limited
  • Pakistan - Islamabad
  • July 2006 to May 2008

Job Description:

- To ensure all policies and procedure are adhered to, safeguarding of assets, prevention and deduction of fraud and error.
- Transactions are executed in accordance with management policies.
- To ensure access to assets is permitted only in accordance with management policies.
- Internal control exits and complied.
- Verification and control all payments.
- Financial information is compared, cross checked.
- Expenditures are verified with appropriate supporting documents.
- Risk associated with the transaction/payments are assessed and verified whether such risk are minimized by following the procedures.

Manager Finnace & Accounts. at International Islamic Relief Organization
  • Pakistan - Islamabad
  • August 2005 to June 2006

Organization Business:

Saudi funded an international NGO, Head office in Jeddah, working across Pakistan in eduction, relief & social sector.

Job Description:

- Making payments to creditors as per agreed terms;
- Monthly analysis for accounts receivable and payable;
- Issuance of cheques and official receipts;
- Preparing cash flow/fund flow statement of the company on regular basis;
- Making funds transfers between bank accounts on regular basis;
- Maintaining petty cash; and
- Processing employee’s expense claims.
- Forecasting budget, checking finalization of budgets.
- Payments to sub offices at various locations.
- Preparing payrolls and issuing invoice to bank for such payment.
- Bank signatory and correspondence with banks in such matter.
- Preparation of bank drafts, cheques and approved all vouchers.
- Preparation all financial statements on monthly basis and prepare & send financial report for head office Jeddah.
- Ensure deduction and deposit in Govt. treasury of withholding tax from payments to vendors and from staff salaries as per income tax law requirements.
- Review of cash requirements submitted by the sub offices and prepares a consolidated reconciliation.
- Maintenance of financial records both manually and in computerized environment. (Sadat Haider Financials)
- Review of internal controls implemented in the organizations, identification of weaknesses and take remedial actions.
- Finalization of audit.

Auditor at Deloitte Touche Tomatsu, Pakistan, Chartered Accountants
  • Pakistan - Islamabad
  • May 2001 to August 2005

Organization Business:
Providing assurance, taxation and consultancy services.

Designation:
Auditor

Job Description:
Engaged as a Job Inchargein theaudit of well reputed companies to ensure financial recording accuracy & compliance with established accounting standards, procedures, internal controls & other statutory requirements. While handling the assignment of different nature i.e. audit and corporate assurance, special investigative audits, compliance audits, system efficiency and effectiveness audits, management consultancy and opinions on interpretation and application of corporate laws and international accounting standards and was directly responsible to report CEO of the firm. My responsibilities included primarily;

- Developing skills and knowledge of people in the group, coaching team members to ensure effective execution and delivery, contributing constructive on-the-job feedback and training;
- Planning, supervising, and handling ongoing audit assignments.
- Preparation and finalization of yearly accounts in accordance with International Accounting Standards (IAS) and Generally Accepted Accounting Principles (GAAP).
- Maintenance of financial records both manually and in computerized environment.
- Review of internal controls implemented in the organizations, identification of weaknesses and advice on modification of the systems to further strengthen and make them more effective and efficient.

- Knowledge of Petroleum Concession Agreements (PCA), Exploration and Development Rules applicable in the oil industry and annexed accounting procedures.

The audits of following companies were conducted:

IT & Telecom Sector
- Pak DataCom Limited

Petroleum and Mineral (Pakistan Branch)
- Orient Petroleum Inc.
- Cresent Petroleum Co. International (Pakiatan Branch)
- Govt. Holdings(Pvt.) Ltd.
- Pakistan State Oil.
- Pakistan Mineral Development Corporation

Financial Sector
- Business and Industrial Insurance Company Limited

Services Sector
- Human Development Foundation (NGO)
- Associated Industries Limited (Edible Oil & Ghee Co.)
- Zaib un Nisa welfare Trust.

Education

Master's degree, MBA Finance
  • at Sarhad University of Sciense & Information Technology
  • July 2006
Diploma, CA (finalist) studied- Accounting, Auditing, Financial reporting
  • at Institute of Chartered Accountants of Pakistan
  • March 2001
Bachelor's degree, Law & English Litrature
  • at Islamia College Peshawar
  • April 1997

Law & English litrature

Specialties & Skills

Internal Audit
Management
Preparation
Finance
Computer
Firm command on Sidat Hyder Financials (Accounting software)
Firm command on Venus, Najia Abdul Latif (Accounting software).

Languages

English
Expert
Urdu
Expert
Pushto
Expert
Arabic
Intermediate

Memberships

Institute of Chartered Accountants of Pakistan
  • Student Member
  • March 2001

Hobbies

  • Reading Books, Watching discovery channel