Senior Accountant (VAT) & Procurement Lead
WAFA Electromechanical Cont. Co. LLC
مجموع سنوات الخبرة :14 years, 0 أشهر
Responsibilities and Functions (Accounts / Finance Function)
Implement the Finance function’s strategic goals, business plans, budgets and resources in coordination with the CFO; develop adequate policies and processes for Finance & Accounting function to maintain efficient operational excellence;
Report progress towards achieving strategic objectives to management;
Present and review financial feasibility studies and discuss findings of new services projects through participation in various committees and meetings along with the CFO and Project Managers.
Manage and monitor accounting activities including general ledger, accounts payables, accounts receivables, payroll, fixed assets, period-end / year-end closing processes, consolidated accounts and tax filing under Federal Tax Authority (FTA), UAE.
Manage and review GL entries, verify accuracy and compliance with the established rules and accounting principles, and ensure that all entries are supported with valid supporting schedules and documentation.
Provide accurate, comprehensive and timely information through the utilization of effective accounting concepts, principles, procedures and on-time monthly closing and preparation of trial balance. Review of accounting transaction adjustments and performance of reconciliation for monthly, quarterly, and at year-end closing.
Manage and monitor WPS payroll payments
Monitor and track receivables accounting activities (customer accounts, invoices, billing).
Ensure the monitoring and recording of disposal or transfer of assets
Manage Tax optimization issues and ensure that taxation policies are consistent with local governmental laws and regulations
Facilitate the annual audit activities with internal and external auditors
Monitor the overall expenditures while ensuring it is working within defined budget parameters
Follow up on expenditure and supervise data comparison of various budget items
Prepare periodic management performance reports and financial statements showing KPI’s, trends, comments on budget variations, relevant outside information, risks and areas that require management attention (PEST and SWOT analysis).
Review monthly financial statements before issuance to ensure accuracy and reliability.
Prepare monthly consolidated cash balances reports
Projected cash flow statements including the projected bank facility requirements and timings
Monitor the cash, debt and liquidity position along with the CFO
Prepare cash forecast reports and present it to the CFO
Responsibilities and Functions (Procurement Function)
Work across all dimensions of Procurement Management for effective and sustainable performance of procurement function of the organization throughout Middle East region.
Planning and Review of procurement needs to achieve business goals and objectives, catering stakeholder needs including project Consultants, Main Contractors and Clients.
Review and analysis of CSF’s involving evaluation of current capabilities, skills, resources and tools.
Review of Procurement policies and SOP’s on periodic basis and suggesting scenario-based improvements to Project Managers and Managing Director.
Managing skilled and motivated team members, nourishing long-term relations with important suppliers and subcontractors, and ensuring balanced centralisation by effective implementation of order-value based decision-making.
Selection of suppliers, monitoring tender and RFP processes (RFP, RFI, RFQ, reverse auctions), managing high and low value requests, negotiations with suppliers, Consultants, Manufacturers, Sister concerns and Main Contractors;
Review and present cost comparative reports, review terms of contract for LOI (Letter of Intent) for main contractor(s) and sub-contractor(s) before Management review;
Supervise issuance of Purchase Orders (LPOs), conduct price negotiations, commercial/ payment terms and apply for credit terms with new vendors/ subcontractors.
Sharif Group is one of the largest industrial conglomerates of Pakistan, established in 1939 serving in F&B, Manufacturing, Livestock Farming and Power & Energy sector.
Key Achievements: Co-drafted IA Charter with GM Audit (Group). Saved PKR 1 Million (approx.) during post and pre-audit assignments, by highlighting discrepancies in payments, booking of expenses, departure from SOPs and miscalculations of mark-up paid to financial institutions.
Reduced insurance cost for stock by 19% by recommending competitive bargaining with Insurers. Supervised successful negotiation for adjustment of PKR 4 million (payables) for suppliers through retrospective reconciliations and discounted set-offs. Designed and carried out training exercises for employee’s soft skills development within the department.
Responsibilities and Functions:
Directly reportable to HOD Internal Audit (Group);
Designated portfolio companies included Ramzan Sugar Mills Limited (largest unit among the Group), Sharif Dairy Farms (Private) Limited, Chiniot Power Limited (aimed at attaining the largest capital base among the Group), Crystal Plastics (Private) Limited and SMPL (Pvt.) Ltd. (Anhaar Foods).
System evaluation to ensure compliance with significant policies, plans, procedures and regulations;
Periodic reporting on the internal audit activity’s purpose, authority, responsibility, and performance;
Evaluation of effectiveness and efficiency of resources employed;
Evaluation of operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned;
Risk Assessment and Risk Mitigation including monitoring and evaluation of control effectiveness;
Pre-audit and post-audit assignments aimed at tracing fault-lines and reporting significant risk exposures and control issues, including fraud risks, governance issues, and other matters needed or requested by the Board.
Finalisation of annual financial statements of companies, partnrship firms and sole-proprietorships;
Workflow management of audit teams comprising of 5 to 7 members on each assignment;
Preparation and supervision of tax returns (annual and monthly basis) related to Income tax and Sales Tax );
(I) Audit & Assurance:
I have worked at different levels from Junior Audit Assistant to Senior Auditor in the following nature of services for public limited and private limited corporate clients;
- Extensive application of the International Standards on Auditing (ISAs), International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs) for preparation of financial statements;
- Initial planning and risk assessment of audit in consultation with the engagement manager;
I worked for the following clients ranging from full scope statutory audits to limited reviews, agreed upon procedures and record keeping assignments, etc.
EXTERNAL AUDITS
Cotton & Textile:
• Brothers Textile Mills Limited
• Empire Textile (Private) Limited
Edible Oil Manufacturing:
• Kohinoor Oil Mills Limited
Infrastructure & Engineering:
• Procon Engineering (Private) Limited
• Standard Fabrication & Engineering (Private) Limited
• Shashi Steel Pipe Works (Private) Limited
• Techno Infrastructure (Private) Limited
• Techno Engineering (Private) Limited
Pharmaceutical:
• Mass Pharma (Private) Limited
• Pharma Health (Private) Limited
Sugar:
• Kashmir Sugar Mills Limited
• Haq Bahu Sugar Mills (Private) Limited
• Makkah Sugar Mills (Private) Limited
Foam:
• Dura Industries (Private) Limited
• Master Celeste’ (Private) Limited
Metallurgy:
• Metal Extrusions (Private) Limited
Electricity & Power Generation:
• Techno Energy (Private) Limited
Shoes:
• Fircos Shoes (Private) Limited
Sports-Football:
• Fircos Industries (Private) Limited
Electrical & Electronics:
• Wire Manufacturing Industries Limited
• Solotech Electronics (Private) Limited
Service Industry:
• Country Survey & Mapping Services (Private) Limited
Edible Oil Manufacturing:
• Kohinoor Oil Mills Limited
NPO/NGO:
• TSA - Technical Services Association
• TEDDS - Trust For Education And Development Of Deserving Students
BOOK -KEEPING AND SYSTEM DESIGN ASSIGNMENTS
Service Industry:
• Country Survey & Mapping Services (Private) Limited
Manufacturing Industry:
• Coil Industries (Private) Limited
(II) Taxation Services
I dealt with diversified portfolio of clients ranging from manufacturing concerns to service entities. Jobs accomplished in this department included preparation and electronic filing of monthly and annual statements and returns of Income tax and Sales tax.
I earned the opportunity of leading the Tax Season Dec’2012 (corporate taxpayers) and Sep’2012 (non-corporate taxpayers).
(III) Corporate Consultancy Services
I exercised liaison with the SECP (Pakistan’s sole corporate governing body) for:
• Incorporation, filing of statutory documents and forms, and usage of digital signatures of companies.
Qualified as CPA (Associate Member) of the professional body in June 2014. Membership No. ACPA(PRO)/PK-C/1407-688
Master of Business Administration Specialization - Finance Majors include: Financial Statement Analysis Financial Management Investment and Portfolio Management Corporate Finance
CA Intermediate Examinations being pursued.
Bachelor of Arts (Journalism, Sociology, Statistics) 2008 The University of Punjab, Lahore, Pakistan
HSSC - Pre-Medical Group (Biology, Physics, Chemistry) 2005 Government College University, Lahore, Pakistan
GCSE O' Levels CIE Exams The University of Cambridge, United Kingdom (Biology, Physics, Chemistry, Mathematics) 2003 School: Crescent Model Higher Secondary School, Lahore