Head Of Internal Audit
BBS Cables Ltd
Total years of experience :22 years, 8 Months
Current Job Experience
Now I am working as Head of Internal Audit Department in Bangladesh Building systems Ltd. & BBS Cables Ltd. during last three (3) and half years.
- BBSL - Which is a publicly traded listed company is a manufacturer of pre- fabricated building. It is the 3rd largest in the current Bangladesh market.
- BBSCL - A private Ltd. Company also under process to get permission from BSEC as Public ltd. Company. It also 3rd largest cables manufacturer in Bangladesh.
Major activities as Head of Internal Audit
- Responsibilities as Head of the department:
i) Finalizing monthly audit program for internal audit department
ii) Monitoring audit team whether job is being done as per audit program
iii) Finalizing audit report which has been prepared by the audit members based on physical findings during their checking in factory, branches & various projects of the Company.
iv) Summarizing main weaknesses that being revealed by the auditors & reporting to Company Secretary & BOD of the Company.
v) Giving audit re-commendations to mitigate both business risk & entity risk.
vi) Quarterly, half yearly & yearly meeting with BOD & Audit committee to review the re-commendations that have been made from audit department to develop internal control system of the Company.
vii) Briefing audit staffs before any new job starting.
viii) Re-presenting in interview board during new recruitment for Audit department.
ix) Reviewing of compliance with laws, regulations & other external requirements.
x) Ensuring that Company has adequate policies for purchase, sales, petty cash expenses & HR & Admin department.
xi) Re-commending policies need to be established that are being revised/upgraded by the other departments.
xii) Special investigation for any fraudulent activities suspected by the Management.
xiii) Management report on actual Financial Statement maintained by the accounts department.
- Individual job responsibilities:
A) Pre- Audit
i) Monthly salary checking
ii) Authorizing indents of Fund requisitions for local procurements & other day to day financial requisitions.
iii) Suppliers’ invoices before payments release.
B) Post Audit
i) Local purchase invoices
ii) Foreign purchase documents & their transactions recording by the accounts department. Also payment process by the bank.
iii) Accounting vouchers, journals & related ledger posting
i) Monthly planning of total audit of the group that consists one Cable factory, One Spinning Mill, Two Garments factory, One Packaging factory, One Properties unit, twenty two Branches & twenty showrooms .
ii) Preparing Monthly audit program of the total audit work .
iii) Arrangement/Selection of auditor as per their ability & eligibility .
iv) Discussion regarding the findings of the auditors with branch/show rooms in charges .
v) Finalization of report of all branches & show rooms .
vi) Discussion with Management regarding findings of the auditors .
vii) Giving recommendation to admin dept. to over come the loop holes founded by the internal auditor .
viii) Analysis of expenses of branches which are approved by head office .
ix) Finalization of local procurement bills of spare parts & assets .
x)Monthly branch meeting with branch & show rooms in charges regarding findings of post audit of branch & show rooms vouchers .
xi) Finalization of monthly Payroll - Corporate Office, Branches, Show rooms & Factories .
xii) Surprise visit of show room & factories .
xiii)Physical stock verification of Cables & Spinning factory in every three months & reporting on that .
xiv)Evaluation of the persons working under my supervision .
xv)Liaison with HRD regarding manpower engagement in the team & planning how to utilize the
manpower setup of the department & ensuring that best output are being brought from them .
MAJOR RESPONSIBILITIES :
i) Export Documents checking/comparing ii)Documents submission in bank .
with Commercial Invoices, L/C iii)Follow up with Bank for proceeds Realization .
iv)Maintaining Computerized data of Export v)Maintaining Computerized data of Import & Collection Position . & Bills Payable Position
vi)Fund arrange & disbursement for payments of Import . vii)Monitoring internal units liabilities status
viii)All types of banking transactions operating . and making sure that all liabilities are properly
ix)Monitoring E.D.F, PAD, &E.C.C Loans & timely adjustment. adjusted in due time .
x)Local Import Bills payments processing . xi)Local Export documents Checking .
xii)Processing of bills for collection against Local xiii)Processing of Freight Bills for Import .
L/C or S/C (Sales Contract)
xiv)Making adjustment after comparing with their xv)All types of Banking Co-responding .
Quotation & payments processing . xvi)Weekly Reporting on Export & Import Status .
MAJOR RESPONSIBILITIES :
i)Keeping company-wise General Ledger ii)Checking Voucher preparation
iii)Checking Vouchers whether it has been iv)Correcting the prepared Vouchers
attached with proper supporting .
v)Checking procurement procedures . vi)Checking Bills before payments whether
it is in accordance with companies prescribed vii)Checking bills after payments. viii)Bank Balance updating .
ix)Preparing monthly Bank reconciliation x)Preparing Company-wise Trial Balance
statement .
xi)Preparing Company-wise P & L Account xii)Preparing yearly Company-wise Balance Sheet
xiii)Reporting on Financial Statement . xiv)Finalizing Monthly Employees salary.
xv)Appointment of new employees . xvi)Finalizing provident fund, gratuity & final payment
at the time of retirement .
i) Preparation of weekly & monthly sale statement
ii)Maintaining Stock & Assets Register
iii)Preparing monthly report on physical inventories .
iv)Keeping record & files of companies legal & other financial documents .
v)Maintenance of cash Book & Ledger .
vi)Preparation of monthly & yearly Trial Balance
vii)Preparation of Profit & Loss Account
viii)Follow up with credit customers
ix)Monthly discussion with the sales manager regarding collection and sales position