Furqan AKhai

A leading business in the world of beauty, fashion and gifts covering 14 countries worldwide spanning six decades.

Major responsibilities includes:

• Conduct due diligence on commercial financial elements including stock coverage, IRR, receivables, direct cost analysis, rate negotiations, product pricing, opex and capex requirements;
• Prepare financial viability analysis and project evaluation for contract negotiations and product investment decisions and develop appropriate strategies;
• Assist the management in the definition, preparation and implementation of new Joint-Ventures, providing local support when needed;
• Management reporting to incorporate and evaluate required key performance indicators and follow business profitability partnering with commercial verticals;
• Act as finance advisory and make recommendations to allow the business to make informed strategic, managerial and operational decisions;
• Coordinate and direct the preparation of monthly, quarterly and annual budgets, financial forecasts, core financial planning and analysis, proposal rates, profit plans and schedules;
• Manage banking relationships, facility monitoring and fund management in coordination with the Group Treasury;
• Oversight on Board Meeting preparation and presentations for legal entities.

"MYNM, the leading automobile distributor in Kingdom, selling BMW, Rolls Royce, Mini, Jaguar and Land Rover, Hyundai, FORD, NISSAN and Tata brands.


Major responsibilities included:

• Preparation of periodical financial statements and annual budget together with their consolidation and other management dashboards for top management reporting;
• Managing statutory, zakat and internal audits and handling matters related to VAT including reconciliations & filling of returns.
• Tracking financial performances by monitoring variances from budget and forecast;
• Develop and document business processes and accounting policies to maintain and strengthen internal controls;
• Responsible for general ledger functions, month/year end closing process & payroll.

NAQUA is the largest shrimp farming, processing and export business in the world.
Major responsibilities included:
Performing treasury activities related to cash flow, borrowings, debt and capital management;
Preparation of company’s annual and monthly cash forecasts and managing funds accordingly;
Ensuring compliance with terms and conditions of loan facilities;
Ensuring efficient utilization of bank loan facilities and their repayment on time;
Preparation of periodical financial statements of the company for statutory audit based on IFRS and SOCPA.

I was associated with Audit, Assurance and Business
Services (AABS) group of different E&Y Global member firms in Pakistan, Kingdom of Saudi Arabia, United
Arab Emirates and Bahrain.

During the period I have been involved in various statutory audits, assignments on agreed upon procedures and other varied audit and consultancy related engagements. My responsibilities included:
- Job planning and supervision including close interaction with client's management, review of work on audit engagements and on-job professional development of staff;
- Review of accounting & internal control systems and suggesting procedures for improvement;
- Developing and performing substantive and analytical procedures for audit so as to determine the reasonableness of the financial statements’ assertions;
- Reviewing financial statements in the light of International Financial Reporting Standards (IFRS), statutory requirements and current best accounting practices, keeping in view the reporting timeframe;
- Ensuring compliance with the requirements of International Standards on Auditing

During the tenure of association with audit and assurance, I was involved in review and finalization of various engagements, which were under Banking, Asset Management and Asset Management Company, Leasing, Insurance, Trading, Manufacturing, Telecommunications, Real Estate, E-Commerce, Media & Entertainment and Distribution sectors.