Ashraf Abu Arafeh

• Lead and supervise group-wide internal audit activities, reporting to the Internal Audit Director with functional interaction
with the Audit Committee.
• Established and operationalized the Internal Audit function, including audit charter, manuals, methodologies, strategic
plans, KPIs, RCMs, working papers, and QAIP in line with IIA Standards & GIAS.
• Execute risk-based internal audits across group entities, assessing financial integrity, asset safeguarding, regulatory
compliance, and operational effectiveness.
• Designed and applied risk assessment methodologies, including KRIs, Inherent Risk Assessment, Control Effectiveness,
and Residual Risk evaluation.
• Standardized audit reporting, Delegation of Authority (DoA), risk registers, and issue-tracking mechanisms to enhance
governance and transparency.
• Mentored and developed audit teams (4-6 staff), ensuring quality execution, professional growth, and audit consistency.
• Managed and supervised 25+ audit engagements across multiple business units, delivering value-added recommendations
and measurable process improvements.
• Conducted special reviews and ad-hoc audits in response to management and Audit Committee requests.

• Managed and supervised complex internal audit and risk advisory engagements for clients across regulated and semi
government sectors (CMA, ZATCA, SAIP, GAMI, SAFF).
• Planned and executed financial, operational, and compliance audits, identifying key risks, control gaps, and efficiency
improvement opportunities.
• Led internal audit function setup and enhancement projects, including risk assessments, audit charters, risk-based audit
plans, and Quality Assurance Reviews (QARs).
• Conducted ERM and GRC maturity assessments against ISO 31000, COSO ERM, and governance best practices.
• Developed tailored ERM roadmaps, embedding governance structures, risk culture initiatives, quantitative RAF/RAS, KRIs,
and strategic alignment.
• Implemented risk management frameworks covering identification, assessment, mitigation, reporting, and monitoring.
• Delivered governance solutions, including Board of Directors & Committee charters, DoAs, and policy frameworks.
• Oversaw and coached engagement teams of 8-12 professionals, driving client satisfaction and high-quality results.
• Supported business development activities, proposal preparation, and client relationship management.

• Performed risk-based internal audits across diversified contracting and trading subsidiaries in Oil & Gas, marine,
construction, fabrication, telecom, and industrial trading sectors.
• Contributed to establishing internal audit frameworks, including the IA charter, methodologies, templates, KPIs, and
organizational structures.
• Conducted enterprise risk assessments and supported the development of 3-year strategic and annual risk-based audit
plans.
• Executed risk-focused audit programs across core business cycles (P2P, payroll, FA, AP/AR, sales, cash, credit facilities,
insurance).
• Prepared clear audit reports and working papers highlighting root causes, risks, and actionable recommendations.
• Monitored audit issue remediation and follow-up to ensure timely and sustainable corrective actions.
• Delivered 40+ internal audit engagements across multi-entity operations.

• Conducted financial statement audits for major clients in trading, healthcare, and manufacturing.
• Assessed financial controls to ensure compliance with accounting standards.
• Performed variance analysis, identifying financial discrepancies and operational inefficiencies.
• Prepared audit reports highlighting risk areas and recommending corrective actions.
• Ensured adherence to local and international financial regulations.
• Reviewed financial reporting accuracy to detect potential fraud risks.
• Executed tax audits, ensuring compliance with corporate tax regulations.