Ahsan Iftikhar Bhatti

August 2021 till date
Adepts Chartered Accountants LLC
Senior Auditor (ICV & Audit) / Abu Dhabi, UAE
Outline:
Acting as a Senior Auditor for the In-Country Valuation (ICV) and external audit assignments. Maintained
utmost level of professionalism and strict adherence to AUPs, policies, standards with the objective of
client satisfaction and tasks completion.
Key Responsibilities
• Booking keeping assignments of multiple clients on various ERP Systems.
• Performance and completion of ICV certification audits of more than 150 companies.
• Performance and completion of ICV certification audits of more than 50 companies.
• Preparation of management accounts of various companies.
• Due diligence assignments of various companies and preparation of relevant reports.
• Providing consulting services to companies for financial statements preparation, data
management, ICV certification and ICV improvement plans.
• Financial Statement • In-country Value (ICV) • Microsoft Office Suite
• Financial Management • Tax Accounting
• Oracle R12, QuickBooks,
Peachtree
• Financial Analysis • Import / Export • Bank Reconciliation
• Financial Modelling • Internal / External Audit • Cash Flow Management
• Financial Reporting • Budgeting / Forecasting • ISO 9001
• Policies and Procedures • Risk Management • IAS, IFRS, ISA, GAAP
• Business Process
Reengineering
• Sensitivity Analysis • Strategic Analysis
• Any other tasks assigned by the top management.
Key Achievement / Projects
• Successfully completed the ICV certifications of more than 150 companies.
• Successfully completed 9 months assignment as a Oracle Accounts Payable Supervisor in ADQ
Group Company, Silal Food and Technology LLC
• Successfully completed the external audits of more than 50 companies.
• Successfully achieved target of completing 10 clients ICV certification on month-by-month basis.
• Highlighted earlier errors and omissions by over 95% in financial system and rectified them.
• Actively conducted the client meetings leading to new business.
• Successfully trained staff on ICV certifications.

Negotiated and finalised contracts with foreign and local suppliers.
• Negotiated and finalised terms and conditions with banks and other financial institutions.
• Trained, supervised and motivated import and support team.
• Implemented, monitored, reviewed and evaluated a sound import system.
• Devised, implemented and monitored system of product costing and pricing.
• Reviewed financial reports, monitored accounts; and prepared activity reports, financial
budgets and forecasts.
• Maintained a healthy debt to equity financing for the business.
• Strategically managed income tax and sales tax position, risks and compliance.
• Implemented systems for accurate collecting, analysing, verifying and reporting financial
information.

Outline

Acted as a manager who designed, controlled, maintained and took responsibility of all the accounting, import related and financial activities. Maintained utmost level of professionalism and strict adherence to policies, standards with the objective of profit maximisation and cost reduction.

Key Responsibilities

• Negotiated and finalised contracts with foreign and local suppliers.
• Negotiated and finalised terms and conditions with banks and other financial institutions.
• Trained, supervised and motivated import and support team.
• Implemented, monitored, reviewed and evaluated a sound import system.
• Devised, implemented and monitored system of product costing and pricing.
• Reviewed financial reports, monitored accounts; and prepared activity reports, financial budgets and forecasts.
• Maintained a healthy debt to equity financing for the business.
• Strategically managed income tax and sales tax position, risks and compliance.
• Implemented systems for accurate collecting, analysing, verifying and reporting financial information.
• Negotiated and finalised contracts with corporate clients e.g. Pepsi, Coca-Cola.
• Supervised, monitored and evaluated all day-to-day accounting, financing and import activities.
• Drafted, developed, implemented and improved; systems, policies and procedures.
• Planned, organised and supervised interim and annual audits as per international guidelines.

Key Achievement / Projects

• Reduced freight inwards and outwards cost by 50% by renegotiating contracts, re-engineering business process and redesigned transit procedure.
• Arranged finance for business expansion by selling off idle fixed assets and reduced debt financing by 73%.
• Actively conducted the corporate client meetings leading to long term contracts.
• Successfully shifted the accounting system to paperless ERP system.
• Proposed, planned and converted the business and tax structure leading to reduced product costs and increased profitability.
• Propitiously submitted the biggest worldwide tender of Coca-cola International and won the contract.

Outline

Developed and redesigned the quality management system (QMS ISO 9001), implemented budgeting and forecasting, standardized internal auditing and improved financial modeling.

Key Responsibilities

• Evaluated and improved quality manual, quality policy, departmental standard operating procedures (SOPs) and quality objectives.
• Executed bi-annual quality audits, conducted management review meetings (MRMs), highlighted NCRs, generated CPARs and followed up on closure of issues.
• Prepared, evaluated, finalised departmental budget input files, financial statements and integrated them into master budget.
• Performed analysis and presented multiple budget performance reports to board of directors.
• Generated joined fortnightly, monthly, quarterly and yearly performance reports.
• Drafted internal audit charter, conducted audit meetings and distributed minutes of meetings.
• Finalised audit plans, programs and methodologies; executed, coordinated and liaised specialized regional audits with big four firms; generated audit reports and followed-up.

Key Achievement / Projects

• Trained ISO leaders, champions and slashed non-conformances by 80%, re-affirmed by external audits and recertification.
• Reduced operational costs by using advanced budgeting and analysis techniques.
• Reduced various operational costs by over 70% using financial trackers, models and performing analyses.
• Attained and maintained highest departmental performance ranking in the PDRs.

Handled clients corporate assignments, completed tax related tasks and key financial matters.

Income Tax

• Registered individuals and multiple entities for Income Tax purposes (NTN & STRN).
• Prepared annual accounts along with notes to the accounts.
• Prepared wealth statements working for filing of wealth statements of clients.
• Filed Income Tax Returns along with all annexure.
• Prepared Financial Statement Analysis using Horizontal and Vertical Analysis Techniques.
• Prepared comparatives for tax purposes.
• Prepared Projections for five year span of time for clients.
• Dealt with Income Tax Notices and filing/providing of replies/data to Tax Authorities.
• Prepared Reconciliations on Income Tax and Sales Tax matters.
• Compiled and prepared all requisite data required under section 161 of the Income Tax Ordinance, 2001.
• Prepared reconciliations in comparison to Capacity Tax Impact.
• Prepared Status Sheets of multiple entities relating to matters of Tax notices and their current status along with compliance done.

CORPORATE AFFAIRS

• Prepared Memorandum of understanding and Articles of Association of various entities.
• Executed transfer of shares.
• Prepared different agreements like shareholding Agreements, Partnership Agreements and Consultancy Agreements.
• Submitted annual accounts and annual returns to relevant authorities.
• Handled matters relevant to Securities and Exchange Commission of Pakistan (SECP).

Worked as a Lecturer for Master of Commerce (M Com.)

• Managed accounts payable, accounts receivable, and payroll departments.
• Generated budgets and forecasts on a quarterly basis & presented to the management team.
• Reported on variances in quarterly costing reports.
• Prepared annual company accounts and reports.
• Administered online banking functions, invoiced customers and posted accounting entries.
• Processed payments and recorded invoices in MS excel.
• Preparation of bank reconciliation statements.
• Coordinate between IT and Financials department.
• Journal entries of accounts.
• Verification of ledgers and accounts for any errors/ misstatements
• Preparation of cash flow statements.
• Reduced credit period from 90 days to 60 days.
• Managed payroll function for 140 employees.
• Monitored and recorded company expenses.