Group Senior Internal Auditor
National Industrialization Company (Tasnee)
Total des années d'expérience :20 years, 0 Mois
Tasnee is a public listed company which has various national and multinational subsidiaries including manufacturing, marketing and services industry. Tasnee has an Internal Audit Department is working independently, functionally reporting to the Audit Committee and administratively to the CEO. Currently, I am working as audit professional in the Internal Audit Department of Tasnee and engaged in the following activities:
- Reporting to the Director Internal Audit and presentations to the Senior Management and Audit Committee
- Preparation of risk based audit plan, risk assessment, identification of audit universe & high risk auditable units and classification of audit findings
- Development of competencies for internal audit department and keeping updated polices and procedures for the department and preparation of audit programs
- Planning and executing audit assignment as audit team and in-charge covering various business processes consisting of Finance and Accounting, Sales and Marketing activities, Procurement and warehousing, Inventory Management, Technical and Quality Control, Administration and Human Resource, Legal and IT
- Conduct the audit opening and closing meetings with client’s management
- Drafting and discussion of audit findings with the client’s management
- Preparation of audit reports including audit observations, related recommendations and assist in drafting management comments
- Preparation of executive summary of audit report
- Preparation of monthly follow-up reports on the progress of audit observations
- Any other activity assigned by the Director IA and special assignment as per the request of the management
Major subsidiaries where engaged for internal auditing are as follows:
Manufacturing
Saudi Polypropylene Company
Saudi Ethylene and Propylene Company
National Titanium Dioxide Company (CRISTAL)
National Batteries Company
National Lead Smelting Company
Saudi Arabia Acrylic Company
Service
TUV Middle East
National Inspection Services Company (FAHASS) Marketing
National Industrialization Marketing Company
I worked as a Senior Auditor in the audit & assurance department of PricewaterhouseCoopers and engaged in value additions for national, multinational and public sector organizations mainly consisting of financial institutions, manufacturing and trading concerns.
I was engaged in external auditing of following clients:
1) Saudi Aramco Shell Refinery Company;
2) Saudi Aramco Total Petrochemical Company.
3) Dhahran Techno Valley.
Acting as a Senior Auditor in the audit & assurance department of KPMG Al Fozan & Al Sadhan, Kingdom of Saudi Arabia, engaged in value additions for national, multinational and public sector organizations mainly consisting of manufacturing and trading concerns.
Key skills attained are as follows:
- - Developed in depth knowledge and understanding of International Financial Reporting Standards (IFRS) & International Standards on Auditing (ISA) and their practical implications.
- Preparation and presentation of consolidated financial statements (FS) in accordance with local GAAP and IFRS.
- Review and compliance of FS as per local regulatory requirements.
- Able to report to the Group Auditors in accordance with Group Audit Instructions
- Review and compliance of key covenants e.g. ADB and SIDF loan agreements etc.
- Risk assessment and evaluation of prospective clients.
- Developed in-depth knowledge and understanding of accounting functions and key controls.
- Evaluation, analysis and documentation of accounting and internal controls.
- Comprehensive understanding of KPMG Audit Manual (KAM) and planning, execution and review of audit engagements independently as incharge.
- Convening on the job training to the assistants.
- Able to handle the jobs assigned independently, supervising, assigning and reviewing the work assigned to assistants.
- Meeting the critical deadlines of the clients.
- Able to communicate directly with Partners and Managers.
- Review of budget, its comparison with actual results and analysis of variances.
- Able to make written communication with key management personnel (Board of Directors) highlighting control weaknesses identified during the audit.
KPMG Taseer Hadi & Co. is a member firm of KPMG International, a Swiss Cooperative, one of BIG 4 firms of the world in auditing, financial advisory and tax advisory services. Extensively engaged in value added interventions for national, multinational and public sector organizations.
During my four years Articleship in KPMG Taseer Hadi & Co., I have been working under the job titles of junior, semi-senior and senior (Job Incharge) in the Assurance department. My key responsibilities under the title job incharge include:
-Preparation, presentation and consolidation of financial statements in accordance with International Financial Reporting Standards and relevant statutory requirements.
-Evaluation, analysis and documentation of accounting and internal control systems of organizations.
-Carrying out strategic analysis of audit clients.
-Planning the audit procedures, designing of audit programs.
-Supervising, assigning and reviewing the work assigned to assistants.
-Preparation of audit files and documents in accordance with KPMG Audit Manual.
-Ensuring the completion of audit within the given time frame adhering to the firm’s quality standards.
-Convening on-the-job training of the audit assistants.
-Verification of compliance to various laws and respective reporting as applicable to organizations (Companies Ordinance 1984, Code of corporate governance, Endowment act 1984 etc).
-Review and compliance of key covenants.
-Reviewing the budget preparation process & their comparison with actual results.
-Preparation of audit report.
-Preparation of letters to board of directors and management letters highlighting control weaknesses identified during the audit.
-Reporting directly to manager/partner for audit work performed.
-Conduct the audit of bank and its branches.
-Obtained knowledge about general accounting principles applicable to petroleum industry and grouping of head of accounts for financial statements preparation.
Following were the examination areas: 1) The Accounting Fundamentals 2) The Legal Framework 3) Technology Information 4) The Organisation Development 5) Information Analysis 6) The Auditing Framework 7) The Tax Framework 8) Financial Management 9) Information for control and decision making 10) Advance Accounting and Financial Strategy 11) Advance Auditing 12) Tax Planning 13) Management Strategy 14) Corporate Law and Secretarial Practices