Internal Audit Manager, GRC (Governance, Risk and Compliance)
BDO
Total years of experience :16 years, 10 Months
1. Conducted the risk based internal audits of the client’s to examine, verify & report on operational, managerial processes, IT systems control and it’s financial impact
2. Carried out internal audits of various industries and sectors in Qatar and GCC countries
3. Assessing the adequacy, effectiveness and efficiency of the established internal controls and procedures
4. Identifying key areas of risk within the organization and proposing appropriate controls to mitigate the risks and on quarterly basis reviewing their performance
5. Preparing by audit in-charge of the assignment and providing guidance to the team members on additional entity and activity test of controls and transactions to be performed during the audit
6. Discussing audit findings with respective process owners; preparing a score card showing the total processes followed
As manager of Management Audit department of the firm, following are my primary roles and responsibilities to be performed:
o Carry out risk based internal audits of the client’s to examine, verify and report on operational, managerial processes, IT systems control and it’s financial impact. Also, assess the adequacy, effectiveness and efficiency of the established internal controls and procedures.
o Identify key areas of risk within the organization and propose appropriate controls to mitigate the risks and on quarterly basis review their performance.
o Review the progress of the audit plan, the working papers prepared by audit in-charge of the assignment and provide guidance to the team members on additional entity and activity test of controls and transactions to be performed during the audit.
o Discuss audit findings and recommendations with respective process owners and report significant issues to respective head of departments.
o Prepare a score card showing the total processes followed, the internal controls working effectively and additional controls / process that needs to be established in respective departments of the organization
o Prepare and submit audit reports in line with the approved audit plan based on scopes defined
o Close previous quarter’s open status audit points in the next quarter and provide a status report to the management.
o Provide senior management and the audit committee members with an opinion on the adequacy, effectiveness and efficiency of the internal controls in the organization.
o Carryout system based internal audits for various quarters and report to the management on a timely basis
o Carry out risk assessment of different business entities and conduct pre-audit to ensure that the internal controls are strong and effectively working within the organisation
o Conduct business process review, write Standard Operating Procedures (SOP) for the organisation and ensure that the processes are implemented across and the internal controls maintained
o Advising and monitoring the ERP implementation of the business organisations in such a manner that the controls are established, all transactions are accurately and correctly captured and the management receives strong MIS reports
Primary duties and responsibilities included:
Risk Based Internal Audits
Participate in opening meetings with client to explain the scope and objectives of the audit engagement to client and provide an overview of all steps in the audit process
Develop a risk based test plan by selecting appropriate audit approach, test procedures and sampling criteria based on professional judgment and defined internal audit methodology
Perform audit tests and prepare working papers in accordance with professional Internal Audit standards and GT’s IA methodology
Organize and reference work papers for review by Director
Participate in closing meetings with client at the end of fieldwork, providing clear explanations for identified issues
Assist in the preparation of a concise and informative audit report to effectively communicate the findings and recommendations to the senior management
Examine, verify, evaluate and report on financial, operational and managerial processes, systems and outcomes to ensure financial and operational integrity and compliance, and assists in business process reviews, risk assessments, developing deliverables and reporting progress against outcomes.
Business Process Review
Develop a thorough understanding of business processes and document the processes in flowcharts and/or process narratives. Identify and document inherent risks and controls within the business processes
Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives. Identify and document control and process weaknesses and provide evidential support for findings
Propose practical and value added recommendations to address control weaknesses and/or process inefficiencies. Conduct risk assessment of various business processes and assist clients on controls and risk mitigation related issues
Review and recommend changes in the existing accounting system to the clients
As advisory manager basic responsibility include handling risk and quality control management for the clients. Clients from various industries include manufacturing, trading, NGOs, School and Hospitals. Some of the achievements made during the performance of the role are stated here under:
o Performing internal audit assignments for various clients across different sectors and industries. These includes preparing an internal audit program, review and refine work papers in line with the internal controls existent and submit report of internal audit to the top management of the company for their review, discussion and decision purposes.
o Conducted business process review and re-designing of the business processes of the clients by identifying existing gaps, documenting resolutions, creating flowcharts for processes thereby strengthen controls having checks and balances in place and also acted as implementation partners for clients
Conducting in house staff trainings on technical topics, leadership skills and team building within the organisation
Carryout weekly updates with the team, hone their skills, build strong tools and communication channels that shall in building effective and efficient management and execution of the assignment
Developing the firm’s capability through strong proposals, at par execution and building trust and brand value amongst clients through various client building initiatives and publications
Was a contributing member of Senior Leadership Board (SLB)
1. To provide advisory services to clients on accounts and tax preparation and filing of returns
2.To prepare and maintain books of accounts of clients in Tally and other software's
3. To maintain strong internal control system within the organization to ensure timely execution of deadlines and confidential maintenance of client records
1. To align with the Team heads across regions and view the progress of the branch model
2. To provide depth analysis of the deviation between the Standard set against the actual functioning of the department
3. To closely work with the consultancy (Mckinsey) on the project of wealth business model and implement it across the regions.
4. To co-ordinate with the senior management and provide them reports based on the actual working of the model
1 Assist the Manager, Internal Audit Services in developing and executing the client’s audit assignments as per the audit plan and take a lead role in the day to day execution of internal audits.
2 Obtain required information directly or indirectly through examination of records or interviews with staff.
3 Assess the reliability and effective use of internal controls and assist in reviewing administrative procedures.
4 For the processes audited; review and evaluate the system of management controls and assess their adequacy and effectiveness and where appropriate, draft potential recommendations for improvements.
5 Prepare working papers documenting adequately work performed and provide report to the audit manager for their review and finalization.
6 Draft segments of the reports and communications on the results of work performed, for review by the auditor-in-charge.
I have completed my Chartered Accountancy course from India and I have specialised myself in the areas of audit specifically internal audit, business process reviews, corporate finance and conducting of feasibility studies for the clients.
I have completed my Company Secretary studies by majoring into Law, compliance and regulations forum