Senior Associate - financial Reporting
Middle East Internet Group
مجموع سنوات الخبرة :8 years, 5 أشهر
• Preparing financial statements for 40+ legal entities on monthly basis across the group in-compliance with IAS 21
• Performing variance analysis for month on month movements in the financial statements of every group entity, ensuring appropriate adherence to International Financial Reporting Standards (IFRS)
• Providing the management with monthly, quarterly & annual set of management accounts along with detailed analysis & commentary for executive management.
• Preparing annual business plans, budgets & forecasts for different business units.
• Preparing KPI data month on month for each group entity and obtaining reasonings for significant deviations on monthly variations.
• Communicating with entities across the group to ensure the compliance across the group
• Working closely with auditors and dealing with audit queries
• Performing various ad hoc processes and special projects as necessary
• Maintaining control of balance sheet through having AP/AR/ Bank reconciled on a monthly basis across the group entities
• Ensured inter-group accounts are 100% reconciled on a monthly basis.
Value Added Tax (VAT) Management & Consultation
• Served as a consultant/SME for advanced oil and gas tax positions/questions. created comprehensive VAT calculations for various clients, maintaining high accuracy for estimating future tax liability.
• Monitored, researched, and implemented actions that resolved international inbound/outbound transactions; expedited transaction turnaround and greatly reduced risk/liability to the client(s).
• Ensured 100% compliance to all regulatory requirements, including specific reporting, mitigated risk to the clients and virtually eliminated recurring problems.
• Provided taxpayers financial advice to ensure correct tax form completion.
• Computed VAT returns for various entities (including entities in Free Zone & Main lands).
• Conducting training sessions for management staff to ensuring the compliance of VAT as per the Government.
• Checked data input and verified finalized data forms prepared by others to detect errors in arithmetic data entry or procedures minutely tracing errors/misstatements.
External/Internal Audit Assurance
• Audit reporting up-to finalization of financial statements, prepared reports, and communicated findings and recommendations to line and senior management.
• Client relationship & audit engagement management, developed detailed audit programs.
• Entity’s Risk assessment & internal controls evaluation.
• Planned and executed audit in accordance with International Standards on Auditing (ISA)
• Ensured that financial statements comply with International Financial Reporting Standards and other regulatory requirements.
• Coordinated with audit team and review of the work performed; and Finalization of audit and drafting of deliverables.
Audit and assurance
• Audit planning, Risk assessments, Development and execution of substantive and analytical audit procedures and review of financial statements in accordance with the International Standards on Auditing (ISAs) and regulatory filings in accordance with corporate laws.
• Assessment of control risk, performing variance analysis on financial statements, to identify risks, and designing tests of controls in consultation with the engagement manager.
• Prepared annual/quarterly consolidated/standalone set of financial statements, statement of financial position, statement of comprehensive income & cashflow statement with notes incompliance with IRFS.
• Reviewing work done by team members and getting it reviewed by the engagement manager and partner.
• Extensively applied International Financial Reporting Standards and handle the accounts till finalization.
• Concluded audit and reporting of deliverables like audit reports, management letters identifying control weaknesses, their implications and recommendations.
• Preparation of time budgets and monitoring of hours throughout the course of the engagements.
• Reviewed minutes of meetings of board of directors, managing committee and audit committee and maintenance of statutory books.
• Performed bank reconciliations, reviewing import documents, letter of credits/guarantees, long term financings.
Business Risk Services
• Identification of risks associated with the organization and thereafter proposing for internal controls.
• Review and design of internal controls and preparation of flow diagrams of various business processes.
• Planning, risk assessment & execution of Internal Audits, report writing (internal audit reports, management reports),
• Reviewing & understanding of business processes of clients regarding operations, financial reporting, budgetary controlling, cashflow, investment appraisal activity, project follow-up and advising upon their internal controls/ control weaknesses.
Tax Management & Advisory
• Reported directly to the Chief Executive Officer/Partner’s and worked on multiple projects which consisted of forecasting yearly budgets, preparing quarterly taxes, and conducting annual tax audits.
• Prepared simple to complex VAT, income and corporation tax returns for individuals and Public Limited Companies (Plc).
• Reviewed source documents and financial records to determine forms needed to complete tax returns.
• Knowledge of state, federal, and local tax codes and publications to prepare tax returns.
• Corresponded with auditing department for tax provisions reviewing under the tax law.
• Assisted tax manager/principal for tax research projects and memos.
• Reviewed and supervised staff accountants' accounting and tax work
Achievements
• Successfully handled complexed tax & audit clients simultaneously, working under time pressured environments and submitting reports on time.
• Created procurement systems for importing, handling, recording & tracing inventory movements to ensure efficient production and reducing the wastage
• Created detailed SOP’s for a textile manufacturing company, including finance, production, procurement departments.
• Handling the finance departments of the company (client) successfully, efficiently managing the working capital for utilization, effectively scrutinizing receivables & payables, ensuring minimum cash loss and bad debts, and negotiating with banks for loan financing, reducing the interest costs to the company.
• Implemented the new system for auditing for the firm (CaseWare)
• Identified frauds and guided internal controls to ensure they are minimized.
Audit & Assurance
• Oversaw and planned the work of audit assignments, providing coaching to new trainees.
• Prepared audit files and working papers to be subject to quality control review (QCR) by ICAP (Institute of Chartered Accountants of Pakistan).
• Updated the audit working papers of firm, according to the revised audit practice manual.
• Developing general strategy, detailed audit plan and audit programs.
• Delegating work to the assistant, performing reviews and giving appropriate directions for conduct of work.
• Addressing and resolving significant accounting and auditing issues rose.
• Prepared Single/Group Consolidated Financial Statements.
• Checking Compliance with the International Financial Reporting Standards (IFRS) and International Standards on Auditing.
• Performing Financial Statements Review and Proof Reading
• Obtaining sufficient appropriate audit evidence through substantive and analytical procedures
Achievements
• Promoted to the role of Senior Audit Team In-charge within 1 year
• Successfully handled the complex clients and detected frauds
UAECA