Assistant Manager
ERNST & YOUNG
Total years of experience :13 years, 6 Months
Experience in handling engagements in Ireland EY in insurance industry.
•Perform statutory audits for leading public listed companies.
•Prepare consolidated financial statements for large groups in accordance with SLFRS, LKAS, IFRS etc.
•Perform audits for revenue, expenses, receivables, payables, fixed assets, intangible assets, loans, leases, cash, gratuity etc. based on relevant accounting standards.
•Perform Initial analytical review procedures and final analytical procedures for companies.
•Perform audits for investments in subsidiaries using share price analysis, CAPM formula etc.
•Perform cash flow forecasts, going concern analysis, solvency tests, investment appraisals etc.
Conducted preliminary audit meetings with audit clients and explained the audit methodology, objectives, scope etc.
•Carried out a risk review prior to starting field work and completed the Risk Management Rating.
•Carried out audits in industries such as facility management, manufacturing, property management etc.
•Spotted a small scale fraud in the area of insurance claims (Workmen Compensation Policy) in one of the subsidiaries.
Drafted the Internal Audit Charter and obtained the approval of board of directors.
•Carried out a risk review for the whole group of companies, developed the risk register, developed the audit universe and a Risk Based Audit Plan for three years.
•Developed internal audit programs for various functions including Payroll, Supplier Payments, Procurement, Inventory Control, Branch Cash Handling, Fixed Assets, IT, Human Resource Management etc.
•Carried out fraud/special investigations as per management requests and drafted the reports.
•Presented audit findings and various other things to the senior management.
Found a procurement fraud which is worth approximately LKR 8 million in one of the subsidiary companies.
•Recruited one internal audit executive and provided on the job training.
Company had a huge non-moving fabric stock accumulated over the years and they wanted to value it, find reasons and recommendations for prevention. I successfully carried out a reconciliation and identified the reasons for the same.
•Found a fraud related to fabric and finished garments perpetrated by a packing executive.