Luai Sawalha, Group CFO

Luai Sawalha

Group CFO

Abu Khader Group

Location
Jordan - Amman
Education
Master's degree, Accounting And Audit
Experience
26 years, 1 Months

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Work Experience

Total years of experience :26 years, 1 Months

Group CFO at Abu Khader Group
  • Jordan - Amman
  • My current job since March 2019
Group Director of Internal Audit at AAB Group
  • Qatar - Doha
  • July 2014 to March 2019

Risk Advisor to Audit & Risk Committee
- Secretary to Audit & Risk Committee
Responsibilities:
Heading the Internal Audit function and reporting to the Audit & Risk Committee of the Board, my
Accountabilities and Duties include:
h Audit Universe identification, annual Risk Assessment and Prioritization.
h Develop Three-years Audit Strategy & Annual Audit Plan.
h Manage Internal Audit Staff (7 professionals) and Oversee the execution of the individual
Financial, Operational, IT (SAP) and Compliance Audit assignments and reviews defined in
the Annual Audit Plan.
h Communication and Issuance of Internal Audit Reports to Senior Management summarizing
the observations noted and the appropriate solutions/recommendations.
h Follow-up on the Implementation of agreed Audit Recommendations.
h Compliance with Corporate Governance Codes, Charters, the Authorization (DoA) Matrix and
External Laws and Regulations.
h Proactively informs senior management of emerging and residual risks and exposures related
to internal controls, compliance and corporate governance practices.
h Meet regularly with the Audit & Risk Committee to report the status and results of the ongoing
Audit activities, and any significant risks or exposures.
h Support Audit & Risk Committee activities and meetings (agendas, minutes, resolutions, etc.)
h Leading ad-hoc assignments and fraud reviews and investigations.

Director of Internal Audit at Abu Khader Group
  • Jordan
  • July 2004 to June 2014

Heading the Internal Audit function of AK GROUP and reporting to the President and CEO, my
Accountabilities and Duties include:
h Identification and Assessment of key Risk Areas.
h Risk-based Audit Planning
h Direction of Audit Assignments covering all Group divisions/companies, and aiming to
Review and/or Ensure:
• Integrity and Reliability of Financial Reporting
• Effectiveness of the Internal Controls structure.
• Compliance with Rules & Regulations and Policies & Procedures
• Corporate Governance matters
• Business Processes and Operational Efficiency.
• Adequacy of Risk Management Plans and Measures.
h Audit Reports summarizing the observations noted and the appropriate solutions/
recommendations.
h Fraud and Fiduciary Reviews and Investigations.
4. PriceWaterhouseCoopers
(PwC)- Abu Dhabi/UAE

Supervisor/Assistant Manager at Pricewaterhousecoopers
  • United Arab Emirates - Abu Dhabi
  • December 2002 to July 2004

Major jobs undertaken:
h Full Audit of Al Hamid Group.
h Audit of Bin Jabr Group.
h Audit of Schlumberger.
h Audit of National Drilling Company (NDC).
h Audit of Itisalat (UAE Telecommunication Co.)
h Audit of Tawam Hospital
h Audit of Bureau Veritas.
h Quarter Review & Audit of Abu Dhabi Motors (BMW).
h Special “Analytical Review of Financial Efficiency and Budgetary Allocation” for United Arab
Emirates University.
h Special “Billing System Review” and “Fixed Assets Controls and Inspection” for Sheikh
Khalifa Medical City, operated by Cleveland Clinic.
h Quarter reviews and audit of Abu Dhabi Golf & Equestrian Club

External Audit Senior at Arthur Andersen & Co
  • Saudi Arabia - Riyadh
  • September 2001 to December 2002

& Business Advisory (ABA) Division)
Major jobs undertaken:
h Internal Audit of Astra Group (Astra Farms, Tabuk Pharmaceutical manufacturing, Nour
Communications, Nour Net, Astra Chemicals manufacturing, Food Processing Co., Astra
Commercial Malls, Astra Polymers manufacturing, and other group affiliates).
h Audit of HOSHANCO Group (the sole agent of IBM, Al-CATEL, ACER, MINOLTA, SHARP
and HERMAN MILLER in the Saudi Market).
h Due diligence and valuation of Al Subaiee Group for investments and financial services.
6. Mawarid Holding Company (MHC),
Riyadh/ Saudi Arabia
A large diversified multinational company based in Riyadh/ Saudi Arabia. Primary activities
(spreading in the Middle East, North Africa and Europe) include TV Satellite (Orbit), Construction,
Distribution & Trading, Manufacturing, Insurance and Financial Services.

Senior Auditor at Mawarid Holding company
  • Saudi Arabia - Riyadh
  • May 1998 to September 2001

Major Jobs Undertaken:
h Full scope audit of Orbit Communication Co. (OCC/SPA- Italy), the Satellite TV & Radio
Broadcasting Network Co.
h Special Review of the Orbit billing system (Subscribers Management System- SMS/ Cyprus)
for the purpose of reviewing the actual versus budget cost of the system and the system’s
internal controls in place.
h Full scope audit of Orbit Direct Lebanon and Orbit Direct Jordan.
h Full scope audit of SITCO Pharma, the sole agent of many international pharmaceutical
companies including GlaxoWelcome, Eli Lilly, SmithKline, Organon and others.
h Full scope audit of Mawarid Food Company (the owner of Pizza Hut and Wendy’s chain of
restaurants in Saudi Arabia, Morocco and Tunisia).
h Full scope audit and of Saudi Chemicals Company (explosives manufacturing co.).
h Full scope audit and special business performance review of Meed Convenient chain stores.

Education

Master's degree, Accounting And Audit
  • at University Of Illinois At Urbana - Champaign
  • May 1998

CPA certification

Bachelor's degree, Accounting
  • at University of Jordan
  • September 1996

accounting and finance

Specialties & Skills

FINANCIAL
REPORTS
BILLING SYSTEMS
BUSINESS PROCESS
DIRECTING
FINANCIAL REPORTING
POLICY ANALYSIS
RISK MANAGEMENT
ACER HARDWARE
ADVERTISING