Senior Consultant
KPMG Lower Gulf
Total years of experience :11 years, 10 Months
Currently working as Senior Consultant in Accounting Advisory services department, my key responsibilities are as below:
- Ensure that financial statements and reporting are as per IFRS, International Auditing Standards and other applicable regulatory requirements. Monthly performance and financial reviews of subsidiary companies to ensure revenue recognition as per IFRS 15, Revaluation of listed and private entity investments within UAE and worldwide as per IFRS 9 requirements.
- Researching new technical accounting issues for implementation within Group accounting regarding SPACs and Business Combinations.
- Providing overall financial planning, reporting and analytical support to operations and the regional leadership team to help achieve business and financial results.
- Conducting inspections on fraud, risk management and financial reporting.
- To design an efficient and effectiveness financial and operational internal control system. Developing and recommending improvements to Standard Operating Procedures for streamlining business processes.
Working in Group Finance Function, my key responsibilities are as below:
- Overseeing accounting and financial departments of Group subsidiaries and reporting directly to Group CFO.
- Providing overall financial planning, reporting and analytical support to operations and the regional leadership team to help achieve business and financial results.
- Monthly, Quarterly and Annual finalization of Group Consolidation with the relevant financial analysis for top management and stakeholders.
- Ensure that financial statements and reporting are as per IFRS, International Auditing Standards and other applicable regulatory requirements. Monthly performance and financial reviews of subsidiary companies to ensure revenue recognition as per IFRS 15.
- Researching technical accounting issues for implementation within Group accounting.
- Ensuring treasury management, cash flow reporting and liaison with local banks for managing working capital for the Group.
- Coordinating and directing the preparation of budget and financial forecasts and report variances. Updating the rolling forecasts based on changes in business operations and activities.
- Coordinating the execution of external audit for group subsidiaries and associates.
- Working as integral part of SAP implementation in the Group Finance function.
- Ensure compliance with VAT regulation and manage regular VAT Return filling process in partnership with Subsidiaries’ Finance and VAT teams.
- Preparation and maintenance of mandatory tax records to ensure Tax Audit readiness as per VAT SOPs.
- Coordinating Integration of SAP regarding VAT Law requirements for VAT Reporting and Refund adjustments.
- Researching technical VAT issues, clarification from FTA for implementation within Group and its subsidiaries.
Group Internal Audit
- To plan, review and develop operational and financial method to identify and manage risks to achieve business objectives for the group business of Real Estate and Hotels.
- To design an efficient and effectiveness financial and operational internal control system.
- To plan and review compliance audits and to evaluate the level of compliance with the policies, procedures, laws and regulations.
- To perform and supervise investigation on misappropriation and miss-presentation of figures.
- Monthly review of the MIS report to ensure that accuracy and correctness of the information before it is sent out to the board of director.
- Report to the Audit Committee at the required intervals on departmental assignments including planned reviews, investigations, risk advisory work and any other ad-hoc activity as required.
Group VAT Compliance
- Responsible for training/coaching the finance teams in the group of hotels and real estate to properly integrate the tax/VAT in ERP system.
- Successful implementation and end to end integration of ERP for VAT Return.
- VAT advisory work for the transaction impact and the changes required in the company's system
and procedures.
- Acting as a liaison for business with key customers, suppliers and FTA for VAT related matters.
- Filing returns and successfully receiving the refunds from the business.
- Identification and finalisation of key business and financial risks in FTA Authority in UAE.
- Analysing the assessments and preparation of objections to be filed with FTA.
- Reviewing the tax compliance and obtaining the tax refund / exemption with respect to benefits available.
Accounting Advisory and Taxation
- Sales tax and Income tax computations and advising clients on related tax compliance issues.
- Monitoring, coaching and developing teams on new IFRS implementation, Corporate laws, Code of Corporate Governance, Income taxes and Sales tax (VAT) updates.
- Advising clients on the implementation of new accounting standards (e.g. IFRS 9, 15 and 16), GAAP conversions, IPO, further issue of capital. The consulting activities range from: support with complex accounting issues and the implementation thereof, analysis of differences in GAAPs and disclosure requirements, working on drafting accounting policy manuals.
- Practical application in terms of writing technical transition drafts for different listed, public unlisted and privately owned entities for IFRS/IAS.
- Acting as a business development professional in accounting advisory for IFRS 9, 10, 15 and 16.
- Performing complex structure consolidation services for large groups.
- Writing client reports based on analytical exercises (e.g. review of clients’ technical accounting decisions) to present findings and recommendations.
Assurance and Corporate Consultancy
- Reviewing of financial statements for compliance with IFRS as applicable in Pakistan, Companies Ordinance, 1984, Code of Corporate Governance, KSE Listing Regulations and International Standards on Auditing (if applicable) while assessing various areas of financial statements.
- Performing planning, understanding business, risk assessment, determining “what can go wrongs”, evaluate internal control environment, and identify key control activities and testing operating effectiveness of controls.
- Identification of operational and business risks in internal controls and communicating client with weaknesses identified and also modifying the audit procedures in the light of control weaknesses identified.
- Understanding the financial statement closing process and reviewing the standalone and consolidated financial statements for external purposes.
- Concluding the engagements and drafting letters of communication with client's Board.
- Developing knowledge of junior team members.
- Advising on the corporate law requirements for IPOs and other certifications for further issuance of shares.
- Performance of audit planning, risk assessment, development and execution of substantive & analytical audit procedures. SWOT analysis and financial & non-financial review of the entity and its environment
- Performing risk assessments, data analytics and financial review for over different projects and managing and supervising teams of 2 to 4 junior team members
- Compiling and presenting audit findings and suggesting practical business improvements
- Conducting client interviews and internal meetings to facilitate effective and efficient audit planning and execution
- Liaison with clients’ management and Communicating and proactively seeking for timely feedback in order to maximize client satisfaction
- Co-ordination with professionals of various fields like legal & tax advisors, actuaries and IT experts
- Performance of audit planning, risk assessment, development and execution of substantive & analytical audit procedures. SWOT analysis and financial & non-financial review of the entity and its environment
- Performing risk assessments, data analytics and financial review for over 12 projects and managing and supervising teams of 12 to 15 junior team members
- Compiling and presenting audit findings and suggesting practical business improvements
- Conducting client interviews and internal meetings to facilitate effective and efficient audit planning and execution
- Supervision, review and finalization of annual and limited scope assurance engagements in accordance with International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS)
- Liaison with clients’ management and Communicating and proactively seeking for timely feedback in order to maximize client satisfaction
- Co-ordination with professionals of various fields like legal & tax advisers, actuaries and IT experts
- Performed ICFR (Internal Controls on Financial Reporting) in accordance with the SBP Prudential Regulations and participated in internal audit assignments for a period of 6 months
Qualified Chartered Accountant
Pursued my bachelor degree alongside my CA certification