Chief Internal Auditor
scib paints
Total years of experience :23 years, 7 Months
Achievements:
Started Audit department - Creation of Audit Charter. - Developed work manuals and process. - Developing Risk based annual plan - Successful completion of plan with six adhoc assignments from the Board of director with minimal resources
Implementation of ERM using COSO framework. - Deploy Conflict of interest - Code of conduct - Whistle blower hotline (Control environment) - Risk identification sessions to departments heads to build up comprehensive risk register - Establishment of measurement tool to weight identified risks ( Risk Assessment)
Identification of 2 major fraud cases (Inventory lapping 200 K)& (Conflict of interest caused cumulative loss of 75 K)
Duties: Supervise the Execution of the annual audit plan. Formulating of the audit reports and recommendations. Exit meetings with audited department head. Communicating the Audit findings to the CEO on monthly bases and to the audit committee semi- annual basis. Monthly Financial analysis ( Profitability, Operating performance, Liquidity) Reporting to The CEO
• Develops initiates, maintains, and revises policies and procedures for the general operation of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct. Manages day-to-day operation of the Program.
• Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
• Oversee the smooth and efficient running of the Finance Dept.
• Ensure compliance with statutory authority and audit requirements.
• On a monthly basis conduct trial balance reconciliation.
• Review current credit limits for current customers and formulate a proposal for revising on quarterly bases
• Efficiency and price variance analysis for the production process
• Prepare business analysis.
• Change Managment Lead at SAP migration Project
• Free Lancing instructor and internal controls implementation specialist
Pro Consultancy for Professional services (instructor and professional advisory) “Own business”
FTC (Food Technology center) Governmental agency part time instructor
HPA Consultancy for the following topics (Cost control Courses-internal audit basics concepts - Financial accounting) for the contracted entities
Assessing and evaluating business controls within contracted entities, formulation financial and business solution for improving existing controls and workflow.
Design and implement an overall risk management process for the organization.
Manage the process of identifying and assessing the risks affecting the business.
Oversee, and in some areas implement, the plan of risk control actions (e.g. purchase of insurance or other)
risk financing options, health and safety measures, liaison with regulators, business continuity plans.
Monitor, evaluate and challenge the organization’s success in managing its risks.
Organize appropriate risk reporting, internally and externally.
SOX compliance execution, including continuous improvement of the processes, and procedures to ensure ongoing compliance.
Executing SOX strategy decisions, scoping and planning and responsible for execution.
Managing and improving the ongoing change management process.
Reviewing and refining key controls around significant financial processes and accounts.
Review of deficiencies and monitoring of status of remediation
Identify areas and processes for improvement and propose recommendations.
Assisting SOX 404 program management in design & oversight of all compliance processes (including self assessment tools, testing programs and tools)
Created standard reporting templates to analyze the financial performance for the ME Cluster.
Participated in the budget revising model for the ME Cluster.
Monthly report the differences between the Forecast and actual results and communicate the recommendations to the deviated country CFO.
Plan and supervise of financial, operational and compliance audit assignments in proportion to the annual agreed upon audit plan for the NME Region (Egypt, KSA, Kuwait, Bahrain, Ethiopia, Iran, UAE)
Prepare and issue audit report based on findings and supporting documents.
Conduct Exit Review Meeting to discuss the audit findings with the audited unit’s Executive Management
Perform Sarbanes-Oxley (SOA 404) internal control testing to support management's evaluation of the effectiveness of internal controls.
Formulate recommendations for corrections of unsatisfactory conditions, improvements in operations and reduction in cost.
Follow up on periodic basis with the audited units to ascertain that appropriate actions are taken to implement recommendations and evaluate the results.
Interface with external auditors (KPMG) during the course of the annual audit of the financial statements.
Quarterly & immediate reporting to Head quarter through “Treuinfo “.
Fulfill the role of Lead auditor for more complex ‘joint’ audits with responsibility for coordinating coverage, supervising/guiding other Internal Auditors and delivering a quality product in accordance with agreed deadlines/budget.
Participation with compliance department in conducting investigations regarding financial transactions and frame agreements.
Active participation in implementing and updating enterprise opportunity and risk management system in Siemens Limited Egypt.
Plan and conduct of financial and operational audit assignments in proportion to the annual agreed upon audit plan for the ME region Region.
Follow up on periodic basis with the audited units to ascertain that appropriate actions are taken to implement recommendations and evaluate the results.
Prepare and issue draft audit report based on findings and supporting documents after obtaining Internal Audit Manager approval.
Fulfill the role of Lead auditor for more complex ‘joint’ audits with responsibility for coordinating coverage, supervising/guiding other Internal Auditors and delivering a quality product in accordance with agreed deadlines/budget.
Trial Balance Analysis.
Designed daily cash flow report summarizing inflows and outflows to numerous bank accounts.
Created and presented monthly expense analysis spreadsheets to inform management of opportunities for cost saving.
Month End Schedule Analysis, P/L Analysis& Reconciliations
Supervision of Accounts Payables.
Product Costs and RM Price & Production Efficiency Variance analysis
Created and presented monthly Incentive bonus analysis spreadsheets to act as a control tool and as s link between purchase, logistics, accounting and sales departments providing alternative view which led to increase the efficiency of the collection process by 15%.
Special assignment for internal control to bridge the gap between the existent internal control and the Sarbanes-Oxley (SOA 404) requirements and implementation of the minimum requirements.
Preparing the financial statements for statutory and reporting purposes
Examine on a test basis the evidence supporting the amounts and disclosures in the financial statements
Performing substantive audit procedures and analytical reviews
Examining and evaluating the internal control structures
Participating in auditing for many financial statements under IFRS and US - GAAP
Business risk assessment that may affect company’s operational and financial objectives
Completes and documents clients’ work in accordance with the prescribed standards
Example for audit assignments:
Banks SAIB- Misr Exterior
Kandel Manufacturing For Steel
Journals Entry
Month End Schedule Analysis,
Bank Reconciliations
Accounts Payable
Bank Related Transactions