Abdul Mateen

In my current role, I am responsible for the entire finance function of real estate vertical termed as ‘ABTEC Group’ and supervision of group consolidation, review and audit of four verticals of Bukhatir Group, namely Bukhatir Investment Limited (BIL), Bukhatir Industrial Investment Limited (BIIL), EMITAC Group and ABTEC group. Principally, the role covers managing GL function, monthly reporting, working capital management, budgeting and audit of ABTEC group and entire group consolidation and audit of Bukhatir Group. A team of four people including senior financial analyst, assistant manager accounts, senior accountant and accountant help me in getting things ‘DONE’. I am reporting to Group Financial Controller.

Financial Reporting, group consolidation and audit function

- Heading group consolidation function of four verticals of Bukhatir Group. The function covers preparation, review, presentation and ownership of consolidated financial statements under IFRS using Hyperion HFM and Tagetik;

- Review of all group entities’ financial statements covered in Annexure - 01 before securing signature of shareholders; and

- Coordinating with external auditors (PWC, KPMG, GT and BDO), valuers (Clutton, Chestertons and Hamptons) and management consultants to undertake external audit, properties valuation, purchase price allocation, goodwill assessment and specialized audit, if any.

GL function, VAT, budgeting and analysis

- Ensure accuracy and completeness of every line item of trial balance through monthly closing and reconciliations of banks, receivables and due from / (to) related parties;

- Ensure accuracy and completeness of property / contract wise revenues and expenses, budgets and cash flow on monthly basis. Analyzing costs, on monthly basis, to agree on range of property rent and service level agreements;

- Review of VAT returns before submission to FTA, ensuring timely payment against VAT and follow up on refund, if any.

- Supervising monthly, quarterly and annual management reports encompassing weekly KPIs and monthly MRP; and

- Presenting budget and annual financial statements in board meeting of real estate entities of Bukhatir Group, namely ABTEC, BPI and AFM.

Working capital management and cash flow

- Monitoring daily cash flow to manage working capital effectively. Reviewing cash position of real estate entities of Bukhatir Group, namely ABTEC, BPI and AFM, on daily basis, before releasing payment to suppliers. Triggering follow up on past due outstanding, bounced cheques and recovery against legal cases. Ensuring that cash operating cycle is within the agreed days sales outstanding (‘DSO’) and days purchase outstanding (‘DPO’).

- Presenting fortnightly and monthly rolling cash flow to Group Financial Controller to ensure availability of enough funds in the coming six months. Surplus funds are transferred to Group as ‘Dividend’ and getting funds from ultimate parent company, if there is any deficiency as short term loans;

Team management

I am managing a team of four members designated as senior financial analyst, assistant manager accounts, senior accountant and accountant. Senior financial analyst is responsible for financial reporting, group consolidation and audit function. Assistant manager, senior accountant and accountant are responsible for managing the accounts and reporting function of real estate entities of Bukhatir Group termed as ABTEC, BPI and AFM.

- Training and development of team members in terms of IFRS, ERP and best practices of accounts and reporting;
- Bi-annual and yearly appraisal;
- Leaves management; and
- Motivation to manage their domain of responsibility effectively and efficiently.

- Consolidate and analyze financial data (budgets, income statement forecasts etc.) considering company’s goals and financial standing;
- Prepare monthly reporting packs covering financial highlights for the month, risks in future and variance analysis on budget vs actual by using Hyperion;
- Prepare weekly cash flows of four vertical of Bukhatir Family conglomerate to assess compliance with financial covenants in corporate guarantee of various loans;
- Finalize annual audits of consolidated financial statements of four sub-groups of Bukhatir Family and standalone financial statements of around 36 business units ranging from real estate to retail and education from External Auditors PWC and KPMG;
- Ongoing compliance with financial policies, IFRS and IAS for daily transactions;
- Working with Group IT team to keep the logarithms of Hyperion in line with the Business units objectives and budgets;
- Conduct business studies on past, future and comparative performance and develop forecast models of various product lines for future expansion strategies;
- Drafting accounting papers with analysis for specialized transactions like mergers and acquisitions and advisory work involved by applying acquisition method under IFRS 03: Business Combination.

As an Audit Senior, I was engaged in Planning, Execution, Reporting and first level review on various audit assignments in Pakistan and Tajikistan.On average, I supervised teams of 5 to 10 members including Audit assistants and seniors. I have also been involved in conducting various training under Learning and Education initiative in Grant Thornton.

Assignment wise experience Sector wise experience:
- Internal Audit
- External Audit
- Consultancy / Advisory
- Forensic Audit
- Merger and acquisitions - Trading and Manufacturing
- Telecommunication
- Banks and exchange houses
- Automotive
- Real estate and construction
- Retails and shopping malls