Internal Auditor
B Food Industries (pvt) Limited
Total years of experience :2 years, 7 Months
Manufacturer of beverages, confectionaries, sweets, chocolates and 500+ employees.
Managed an Audit team of 5 professionals with 2 directs reports including sales, purchases, productions and inventories. Oversee all operations and performance management.
Responsible to handle any curies in internal control system.
Searching of new suppliers from the market.
Preparing monthly cost sheets for each model and conducted variance analysis.
Managing cash flow on daily basis.
Preparing monthly management accounts and bi-annual & annual financial accounts.
Preparing annual forecasts and budgets.
Responsible for assessment of internal controls and formulating a plan for internal audit and carried out internal audits.
Handling sales tax monthly returns and departmental audits.
Preparing Income tax monthly & annual returns and FBR audits under various section of Income Tax Act.
Liaison with marketing team to identify the high risk customers and explain trends.
An Audit firm having over 300+ Clients.
Preparation of Financial statements of SME’s & SSE’s
Resolution of accounting/technical issues raised by clients.
Keep up-to-date with any changes or planned changes to accounting standards, UITF’s or other pronouncements and understand their impact upon the financial Statement.
Understand, evaluate and test the design and operation of accounting and internal control systems, offering recommendation for any weaknesses noted.
Provide on-the-job training /assistance to junior members of staff.
Delegate appropriate work to junior members of staff and review their work in a structured format.
Provide timely feedback to partner / manager in relation to ongoing job performance with a view to avoiding surprises.
Prepare and critically review statutory accounts to ensure they fully meet company law and financial reporting requirements.
Book keeping (Cash book, Bank book, General Journal, Ledger book).
Banks dealings
Dealing with parties (Debtors & Creditors)
Ledger reconciliation with parties.
witnessing 8% Net profits in the last few years in contrast to its sector average of 15%. Appointed as a Internal Auditor and introduce the new working and human controls which controls the admin cost by 5% within 6 month of joining and achieve 50 million rupees increase in the profits. The Additional cash flows also utilized to earn 4.2 million rupees by investments through different financial instruments.