Chief Internal Auditor
Gulf Drilling International
Total years of experience :9 years, 10 Months
Chief Internal Auditor - Gulf Drilling International
➢ April 2008 To Date
Gulf Drilling International is a listed Oil & Gas sector company and is the only national drilling company operating in the State of Qatar with a fleet of 15 oil & gas drilling assets, employing more than 1600 employees. GDI is a sister concern of Qatar Petroleum (QP)
Working as Chief Internal Auditor for GDI I am responsible for managing the Internal Audit Function. Reporting to CEO and Board of Directors, my role ensures internal audit function to act as a trusted business partner & advisor and work as a driving force behind a culture of governance, accountability, compliance & execution to help the organization in achieving its corporate objectives.
Following a risk based audit approach, I am involved in developing risk based planning process which identifies highest priority strategic, operational, financial, and regulatory risks to the organization. My role encompasses providing timely and impactful communications to key stakeholders regarding the global collection of risks, audit findings, and issue-remediation efforts. Reporting on adequacy, efficiency and effectiveness of business processes and providing recommendations to improve & add value to these systems also forms part of my role in the organization.
My key responsibilities include the following:
Setting-up Internal Audit Function
Apart from customary responsibilities, I have played a pivotal role in setting-up internal audit function in Gulf Drilling International by:
• Introducing risk based audit approach. This includes performing corporate risk assessment through risk workshops. Establishing a risk rating mechanism for individual audit observations and for overall internal audit reports.
• Instigating and finalizing Internal Audit Charter in line with best practices and the guidelines of IIA (Institute of Internal Auditors, USA)
• Devising Audit Committee Guidelines to help committee members to effectively discharge their duties.
• Devising Procedures for internal audit delineating all activities performed by the department.
Consulting / Advisory Role
• Performing Ad-hoc assignments and investigations as requested by the CEO and Audit Committee of Board of Directors. These include:
* Acting as a Business Consultant, advising on core strategic matters as and when required by the CEO and Audit Committee of Board of Directors.
* Performing Corporate Risk Assessment exercise;
* Providing professional opinion for developing Corporate and departmental KPIs (Key Performance Indicators);
* Review of Organizational Policies & Procedures including Accounting and HR Manuals;
* Preparing Investigation and Review Reports on matters of management concerns;
Presentations for Board of Directors and Audit Committee.
Risk Assessment
• Performing annual risk assessment exercise to identify high, medium and low risk areas to be included in annual Audit Plan in accordance with business area risk rating.
• Reviewing results of system overviews for identified activities by reviewing relevant documentation and by arranging risk workshops with process owners and stakeholders.
• Assessing conclusions of walkthrough tests to confirm understanding of various processes and internal control procedures.
• Assessing risks relating to certain areas of audit and recommending relevant controls to mitigate them.
Devising Risk Based Internal Audit Plans and Work Programmes
Risk Rating of Internal Audit Observations and Internal Audit Report
Audit Opinion and Reporting
Management and Implementation
Representing Internal Audit on Projects / Committees
Audit Staff Supervision & Development
Quality Audits
• Performing Quality Audits (as per ISO 9001 requirements) for providing assurance to stakeholders that desired quality of delivered product is achieved and the quality systems meet expectations.
Compliance and Research
Senior Auditor - KPMG Dubai
(Member firm of KPMG International, one of the Big Four professional services firms worldwide)
Working as Senior Auditor for KPMG Dubai, I was involved in Interim, Quarterly and Annual audits of various organisations in the region, leading audit teams of up-to seven members.
My key responsibilities as Senior Auditor were to plan, conduct, review and finalize audits for clients in accordance with IAS (International Accounting Standards), IFRS (International Financial Reporting Standards) and ISAs (International Standards on Auditing) .The responsibilities included: • Planning, conducting and finalizing statutory audits and other agreed upon procedures on an annual, interim and quarterly basis for various clients.
• Preparing Financial Statements and drafting detailed notes to the accounts as per IAS and IFRS.
• Performing analytical review by analysing the financial performance of the client and discussing significant issues with client senior management.
• Planning, managing and preparing audit programmes and planning documents.
• Leading the field work on all accounting and management areas of the concerned client.
• Determining the materiality for planning purposes of each client and updating it for final audit.
• Preparing completion memorandum for clients, highlighting important control issues and their resolution.
• Drafting detailed management letters (letter of weaknesses and recommendations) for all clients, identifying control weaknesses and recommending changes to improve systems and procedures.
• Managing and reviewing the work of audit assistants and other team members.
• My Major Clients included Damas Gold, Dubai Investments, Dubai Aluminium, Al-Shirawi Group, Al-Gurg Group and Al-Dobowi Ltd.
RSM International, Dubai - UAE
(Member firm of RSM International, among the 10 largest accountancy practices worldwide)
One of the leading and oldest firms of Chartered Accountants in the UAE providing services in the areas of accounting, auditing, business assurance, management and consultancy to a range of multinational and local organizations.
Working as Senior Auditor in Audit & Assurance department of Dahman & Co RSM, I was involved in planning, execution and finalization of audit and review engagements. My job responsibilities were to conduct, review and finalize statutory audits for clients in accordance with IAS (International Accounting Standards), IFRS (International Financial Reporting Standards) and ISAs (International Standards on Auditing)
My clients as external auditor ranged from diversified industries including Ceramics Industry, Engineering, Food Stuff Manufacturing, Medical Equipment Manufacturers and Events Management.
In addition, I was also involved in providing Internal Audit services to clients. I was responsible for drafting periodic Internal Audit Reports highlighting major weaknesses identified in the area audited, their effect on the client's business and recommendations to improve. Also suggesting procedures to client's management which can add value to their business.
I have also provided professional services as resident Internal Auditor for many clients as part of my internal audit assignments with RSM International.
Saeed Methani Mushtaq & Co. Chartered Accountants is a professional services firm with established offices in all major cities of Pakistan.
I joined the firm as an Audit Assistant and was promoted to Audit Senior. I was involved in audits of various listed and non-listed companies during my stay in the firm. My job responsibilities as an Audit Senior included: • Planning, conducting, reviewing and finalizing the audits of clients in various industries.
• Preparing IAS checklist and documenting Corporate Governance issues for all listed companies.
• Performing consulting assignments in different business areas, as per clients' requirements and industry.
• Preparing Management Letters for all statutory audit clients.
Following is the brief summary of the industries where I worked as an External Auditor, independently as a team leader of Saeed Methani Mushtaq & Co. Chartered Accountants, Lahore, Pakistan.
Industry experience
• Textile Companies
• Trading Companies
• Manufacturing Companies.
• Special assignment for Banks
• Unilever Pakistan (Assets verification for Walls)
The ICAEW Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes. It is valued around the world in business, practice and the public sector. It has integrated components which give an in-depth understanding across accountancy, finance and business. Together they help build the knowledge, skills and experience to perform to the highest level.
This unique, challenging and innovative course develops the full range of academic and professional knowledge, values, skills and expertise necessary to operate with excellence as director, manager, internal or external auditor and management consultant and to manage audit teams, audit departments and other business functions and organizations.
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