Head of Group Audit Department
Al-Majdouie Group
Total years of experience :20 years, 5 Months
Al-Majdouie Group is a well-diversified Group operating in Logistics, Auto sector, Real estate, Manufacturing, Food industry and Education. Detailed information on the group is available at www.almajdouie.com
Working as Head of Internal Audit Department (Audit Manager at Group Level), my job description includes:
-Implementation of Internal Audit Charter through identification and evaluation of the organization’s risk areas and development of Annual Audit Plan based on annual risk assessment and input from ERM department.
-Prepare resource budget and allocation at departments level for approved plan implementation.
-Oversee and monitor all risk management activities across the Group.
-Review risk mitigation plans that address risk issues and emerging risks, and review the mitigation progress of these risks prior to board reporting. Review the key risk indicators periodically.
-Identify processes to be covered and develop audit objectives for each audit assignment.
-Guide audit team to identify, develop, and document audit issues and recommendations using independent judgment concerning areas being reviewed.
-Guide in-depth performance analysis of different cost, profit and investment centers. Review of cost allocations of service centers.
-On specific requests, help out management in formulation of policies and procedures and provide other consultancy services without assuming management responsibilities.
-Supervise and direct the work of internal Audit team, through constant coordination and monitoring of work in progress.
-Communicate the results of audit and consulting projects through multiple reporting structures to different levels of management.
-Performing specific procedures on different account balances as specially instructed by management as special assignment.
-Review of the internal audit working papers in TeamMate Audit Management Suite and finalization of the internal audit reports.
-Implementation of the selected IT audit assignments through external co-sourcing while completely handling the scoping, tendering, recommending, hiring process till execution and reporting
-Research for and implementation of “proactive internal auditing” through IT based direct controls and monitoring controls” in ERP environment.
-Provide training, coaching and guidance to Internal Audit staff in conducting audits and other audit-related issues
-Follow-up meetings with other departmental personnel for resolution of the issues identified.
-Support Group audit committee in selection of external auditors by completely handling RFP and initial negotiation process.
-Perform other similar or related duties as required or assigned by senior management.
Ibrahim Fibres Limited is a Company, listed on all three stock exchanges of Pakistan. It is a well diversified Company operating in chemical, textile and power generation sector. Its annual revenue is approx. US$ 300 millions.
Working as Manager Internal Audit, my job description includes:
- Supervision of continuous (accounting) internal audit.
- Preparation and implementation supervision of annual (Other than accounting) internal audit plan on the bases of risk assessment (Risk Based Internal Auditing).
- Review of the internal audit working papers and finalization of the internal audit reports.
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- Planning, execution and report finalization for the additional specific audit projects assigned by the Audit Committee and BOD members.
- Supervision of operational level “walk through” sessions in ERP environment and participation in executive level meetings to identify risks, related internal controls and process improvements.
- Research for and implementation of “proactive internal auditing through IT based direct controls and monitoring controls”.
- Review discussion and variance analysis of the monthly, quarterly and annual financial statements for significant fluctuations.
- In-depth performance analysis of different cost, profit and investment centers. Review of cost allocations of service centers.
- Participation in budget preparation meetings, review of budget allocation requests and suggesting changes based on the controllability of cost to remove budgetary slacks.
- Participation in special project teams to ensure proper internal controls and risk management.
- Participation in the steering committees for efficient and effective project management.
- Follow-up meetings with other departmental personnel for resolution of the issues identified.
- Simultaneous handling of multiple tasks.
- Management of office and subordinate staff.
Four years with M/S M. Yousuf Adil Saleem & Co. (Chartered Accountants) (A member firm of Deloitte Touche Tohmatsu) Faisalabad.
NATIONAL EXPOSURE
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I have conducted, supervised and managed the external audits, internal audits and special assignments (system design, Mergers etc.) of the following group entities operating in Textile, Energy, Chemical and Banking sectors:
- Sitara group of Industries - Ibrahim group of Industries
- Chenab group of Industries - Arshad group of Industries
- Zahidjee group of Industries - Allied Bank Limited
Other exposure includes Hospitals, clubs, trusts and schools.
INTERNATIONAL EXPOSURE
I worked with Deloitte & Touch Bakr Abulkhair & Co., Saudi Arabia from December 2006 to April 2007. During this period I independently conducted the audits of the following entities operating in Industrial machinery trading and services, Oil drilling, Oil refinery, Oil piping, Mining and Large Industrial Construction sectors;
- Arabian business Machines Limited (Suadi Company)
- Arabian Telecommunication Engineering Limited (Suadi Company)
- Clariant Ali Al Abdulla Al Tamimi Co. Limited (Suadi Company)
- Z.P. Arabia Drilling Company Limited (Chinese Company)
- SNC Lavalin Europe B.V Saudi Arabian Branch (Canadian Company)
- Saudi SNC-Lavalin Company Limited (Canadian Company)
- Dywidag Saudi Arabia Co. Limited - Kettaneh Construction Saudi Arabia Limited (Joint Ventures) (Garman & Saudi Company)
In line with my performance, I was gradually promoted to the position of Assistant Manager Audit responsible for management of audits carried out by the firm. According to the office management hierarchy (of MYSACO. Faisalabad office), it was the highest management position that any student can achieve on the basis of his performance and qualification.
Qualified all exams and earned CIA designation on 8th Septeber, 2010.
Passed Chartered Accountancy exams from the Institute of Chartered Accountants of Pakistan on July 30, 2007. Key subjects covered are: - Advanced Financial Accounting and Reporting - Information Technology - Management Accounting - Advanced Auditing - Cost Accounting - Communication skills - Business Finance Decisions - Corporate laws and Secretarial Practices