Frisco Jr Lomod, Internal Audit Manager

Frisco Jr Lomod

Internal Audit Manager

Electrical Industries Company

البلد
المملكة العربية السعودية - الدمام
التعليم
بكالوريوس, Accountancy
الخبرات
15 years, 6 أشهر

مشاركة سيرتي الذاتية

حظر المستخدم


الخبرة العملية

مجموع سنوات الخبرة :15 years, 6 أشهر

Internal Audit Manager في Electrical Industries Company
  • المملكة العربية السعودية - الدمام
  • أشغل هذه الوظيفة منذ أبريل 2021

1. Determines, plans, and supervises the work of auditing professionals and other subordinates in the performance of internal and external audits.
2. Confers with the Company’s management and the Audit Committee of the Board of Directors on policies, programs, and activities of the Internal Audit Department; makes recommendations regarding specific areas of responsibility.
3. Develops and updates audit programs and checklists; plans and monitors audit work schedules; and develops and recommends implementation of forms, systems, and procedures to carry out responsibilities and accomplish goals of the Internal Audit Department.
4. Ensures that accepted accounting and audit principles and policies are followed, and evaluates the adequacy and effectiveness of internal accounting procedures and operating systems and controls.
5. Supervises, reviews, and participates in the training of Internal Audit Department personnel
6. Performs special audit-related projects as assigned by Audit Committee or Management
7. Directs the preparation of the Department's budget requests
8. Meets with Company’s management at all levels and the Audit Committee of the Board of Directors, as necessary, to discuss audit plans and results and make recommendations to resolve audit findings requiring corrective action.
9. Coordinates with other assurance providers within the Company.
10. Presents the Internal Audit Department Activity Report on quarterly basis and year-end review.
11. Prepares Audit Committee Activity Report addressed to the Board of Director on quarterly basis and year-end review
12. Perform other duties assigned by Audit Committee.

List of Activities and Business Processes Audited:
(a) Make and package product, (b) Accounts receivable and collection, (c) Manage customer orders (d) Closing and financial reporting process, (e) Purchase materials and supplies (f) Schedule production (g) Manage fixed assets and maintenance, (h) Manage inventory, (i) Move materials and supplies, (j) Manage cash flows, (k) Identify market segment, (l) Manage employee payroll and benefits, (m) Develop and manage HR, (n) Accounts payable and disbursement, (o) Post-sales services, (p) Develop budget, (q) Warranty claims, (r) Store and transport products, (s) Perform and participate in preparation of enterprise-wide risk assessment, (t) Quarterly review of consolidated financial statement for the holding and its subsidiaries

Senior Internal Auditor في Electrical Industries Company
  • المملكة العربية السعودية - الدمام
  • ديسمبر 2015 إلى مارس 2021

Performs professional-level audit work in assigned areas and functions under the general direction of an Internal Audit Manager/ Chief Internal Auditor. Ensure that audits address areas of concern relative to the goals, performance objectives, and impact of a variety of economic, financial, and managerial programs in conformance with the Company’s policies and procedures.
Gain an understanding of the general standards, standards of fieldwork and standards of reporting as stated by the Institute of Internal Auditors (IIA), American Institute of Certified Public Accountants (AICPA) and other related professional bodies. Also, gain an understanding of the standards for the professional practice of internal auditing as stated by the Institute of Internal Auditors.

Main responsibilities include:
1. Perform and participate in five (5) year risk assessments for the Holding Company and its subsidiaries.
2. Perform and participate in the Annual Audit Plan based on the risk assessment report.
3. Participate and receive the audit program and instructions for a specific audit area.
4. Follows the prescribed audit program; interviews appropriate personnel; accumulates, verifies and analyses available data; observes actual practices and evaluates functional operational techniques; and identifies existing or potential problem areas.
5. Identifies possible causes or contributing factors relating to problems and designs tentative solutions; coordinates tentative solutions with a supervisor and secures approval for investigation, analyses and testing of solutions; analyses results; and recommends the best approach for improvement.
6. Prepares audit memos detailing findings and recommendations and assists in the presentation of audit findings and recommendations to management.
7. Assembles and maintains work papers in a prescribed manner.
8. Conducts follow-up audit engagements.

List of Activities and Business Processes Audited:
(a) Make and package product, (b) Accounts receivable and collection, (c) Manage customer orders (d) Closing and financial reporting process, (e) Purchase materials and supplies (f) Schedule production (g) Manage fixed assets and maintenance, (h) Manage inventory, (i) Move materials and supplies, (j) Manage cash flows, (k) Identify market segment, (l) Manage employee payroll and benefits, (m) Develop and manage HR, (n) Accounts payable and disbursement, (o) Post-sales services, (p) Develop budget, (q) Warranty claims, (r) Store and transport products, (s) Perform and participate in preparation of enterprise-wide risk assessment, (t) Quarterly review of consolidated financial statement for the holding and its subsidiaries

Senior External Auditor في Ahmed Al-Zamil Certified Public Accountants and Consultants
  • المملكة العربية السعودية - الدمام
  • أكتوبر 2012 إلى نوفمبر 2015

1. Obtain sufficient knowledge of the client’s business by conducting interview with client’s management team and performing analytical procedures, prior experience with the industry, review of past working papers and correspondence to bring-out useful information about the nature of the business, organizational structure, operating characteristics, and transactions.
2. Assess the entity’s accounting system if designed to identify the types of transactions executed so that the transactions can be recorded in the appropriate amounts in the correct accounting period. To substantiate propriety of accounting records and obtain understanding on the entities control environment, accounting system, and existing control procedures.
3. Perform regular financial audit to local clients in Saudi Arabia based on the engagement planning and strategies identified during the planning stage of the audit.
4. Calculate and prepare the tax declaration forms and schedules to be submitted to tax department.

Areas of Expertise:
a. In-depth experience of statutory audits and reviews of financial statements
b. Team management skills; getting assigned jobs done in stringent deadlines.
c. Preparation of consolidated/unconsolidated Financial Statements and relevant notes to the accounts as per IFRS in the light of statutory requirements, current accounting practices, keeping in view the reporting time frame.
d. Review of accounting and internal control systems and suggesting procedures for their improvements.
e. Preparation of business process flows and recommendations for improvements in existing processes.
f. Review and rectifications of incorrect accounting practices.
g. Inspection of inventories and fixed assets and assistance of management in preparation of fixed assets register.
h. Monitoring compliance with various other standards, procedures and statutory requirements.
i. Preparation/review of financial policies and procedures and recommendations for improvements and implementations.
j. Preparation and Review of Zakat and Income Tax declaration returns.
k. Performing “agreed upon procedures engagements”.

Business Sector Experiences for financial / external auditing:
(a) Construction, (b) Manufacturing, (c) Merchandising, (d) Service and contracting, (e) Schools, (f) Holding Companies, (g) Travel Agencies

Internal Auditor في Provincial Internal Audit Office -Provincial Government, Philippines
  • الفلبين - Tagbilaran City
  • يوليو 2010 إلى أكتوبر 2012

1. Advise the local chief executive on all matters relating to internal/management control and operations;
2. Conduct compliance, management and operations audit of the LGU activities and units and determine the degree of compliance with mandate, policies, government regulations, established objectives, systems and procedures, processes, and contractual obligations;
3. Review and appraise systems and procedures, processes, organizational structure, asset management practices, financial and management records, reports and performance standards of the units covered;
4. Analyze and evaluate management deficiencies and assist top management by recommending realistic course of actions;
5. Verify and analyze financial and operations data to ascertain complete, accurate and valid data or reports generated by management information systems;
6. Functions of a protective nature, such as prevention and detection of fraud or dishonesty; review of cases involving misuse of agency property; checking of transactions with outside parties;
7. Miscellaneous service, including special investigations and assistance to outside contacts such as the COA;
8. Perform such other related duties and responsibilities as may be assigned or delegated by the local chief executive or as may be required by law;
9. Prepare and participate in strategic risk assessment.

Provincial Departments Audited:
(a) Provincial Engineering Office, (b) Provincial Hospitals, (c) Bids and Awards Committee, (d) Provincial General Services Office, (e) Follow-up Audit Reports and Commission on Audit Status Reports, (f) Provincial Budgeting Office, (g) Provincial Accounting Office, (h) Provincial Treasurers Office, (i) Financial Assistance to Barangays

Field Auditor في Asia Brewery Incorporated
  • الفلبين - Manila
  • أبريل 2009 إلى يونيو 2010

1. Check and validate the correctness the Financial Records of Sales Office. Conduct Compliance, operational and financial Audit. Prepares Audited Financial Statement internally. Report any deficiencies to the Management. Conduct Actual inventory count, Bank reconciliations statements, confirmation and verification of Accounts Receivable, surprise cash counts and preparation of audit reports (interim and annual audit reports)

Assistant Accountant في FAL Shipping Corporation
  • الفلبين - Cebu City
  • ديسمبر 2008 إلى مارس 2009

a. Prepare, examine, and analyze accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
b. Report to management regarding the finances of the company.

الخلفية التعليمية

بكالوريوس, Accountancy
  • في Holy Name University
  • أكتوبر 2007

Recipient of a four-year academic scholarship Vice Chairperson for Convocation Vice Chairperson for Mock Interview

Specialties & Skills

Internal Control
Risk Assessment
Risk Based Testing
Accounting
Auditing
Knowledgeable in Microsoft Applications
Proficient in applying external and internal auditing standards
Competent level of knowledge in IFRS and IAS
Competent level of knowledge in COSO frameworks
Maintains a well-balanced physical, mental, and spiritual life
Possesses good interpersonal skills and a well-rounded personality

اللغات

الانجليزية
متمرّس
الفيلبينية
اللغة الأم
العربية
مبتدئ

التدريب و الشهادات

Workshop on Institutionalizing Key LGU Internal Control Systems through Effective Documentation (تدريب)
معهد التدريب:
Ricardo R. San Andres at Radisson Blue Hotel
تاريخ الدورة:
September 2011
المدة:
32 ساعة
Internal Control System on Self-Assessment Framework Workshop “Skills Build Up on Internal Control F (تدريب)
معهد التدريب:
Rolanda D. Soliven, CPA,CIA,CFE,CQA and Anthony A. Catajan, CPA,CQA of Global Standards
تاريخ الدورة:
June 2012
المدة:
16 ساعة
Workshop on Philippine Government Internal Audit Manual, Audit Techniques and Audit Report Writing (تدريب)
معهد التدريب:
Rolando D. Soliven, CPA,CIA, CFE, CQA of Global Standards
تاريخ الدورة:
July 2012
المدة:
24 ساعة
Risk Based Auditing (تدريب)
معهد التدريب:
Leoron Professional Development Institute in cooperation with International Academy of Business and
تاريخ الدورة:
September 2016
المدة:
40 ساعة
IFRS Updates – IFRS Transition in Saudi Arabia and Update on IFRS 9, 15 & 16 (تدريب)
معهد التدريب:
Philippine Institute of Certified Public Accountants – Saudi Arabia (PICPA-KSA)
تاريخ الدورة:
December 2017
المدة:
4 ساعات
Value Added Tax (VAT) in Saudi Arabia (تدريب)
معهد التدريب:
Philippine Institute of Certified Public Accountants – Saudi Arabia (PICPA-KSA)
تاريخ الدورة:
December 2017
المدة:
8 ساعات
WEBINAR: Internal Audit: After the Quarantine (تدريب)
معهد التدريب:
Institute of Internal Auditors Philippines (IIAP)
تاريخ الدورة:
May 2020
المدة:
8 ساعات

الهوايات

  • Reading, studying new skills, watching intellectual movies and tv series, playing sports
    Certified Public Accountant (CPA) - Board Passer Member - Institute of Internal Auditors (IIA) Certified and Member - Certified Risk Based Auditor Member - Philippine Institute of Certified Public Accountant (PICPA)