Chief Audit Executive
Leejam Sports Company
Total des années d'expérience :17 years, 6 Mois
To add value at leejam, major role include;
a. Ensuring all measures required to maintain good controls, risk & governance environment.
b. Managing internal audit department in line with IIA standards & best industry practices
c. Maintaining dual communication with audit committee with timely reporting
d. Team building & training to ensure sufficiency of required skills and resources to conduct audit & risk engagements
e. Evaluating ERM Model and ensuring timely corrective action for key risks highlighted in "Risk Register"
f. Ensuring compliance of various applicable regulatory frameworks for listed companies
g. Acting as trusted advisory role for management.
My responsibilities at Arab Paper Manufacturing Company include;
1. Re-assessment of financial policies and procedures in light of best practices and regulatory requirements;
2. Provide interactive advisory services to finance department regarding day to day finance and accounts issues;
3. Perform financial risk assessment across all operations and check adequacy and effectiveness of related internal controls;
4. Plan and conduct Section wise financial Audits based on risk assessment including but limited to; Banks and Treasury, Procure to Accounts Payable, Sales to Accounts Receivable, Budgeting & Financial forecasts, Projects & Financial Feasibility, Investments, Costing Process & Inventory, Fixed Assets, General Ledger Controls & Financial Closing and Payroll controls.
5. Highlight weak controls and gaps in financial policies and procedures to Management with recommendations to fill such gaps;
6. Interim Reporting for significant issues to take immediate actions to the Chief Audit Executive related to the processes for controlling the activities of the Company, together with recommendations for improvements to those processes;
7. Check compliance of IFRS project in light of CMA guidelines and VAT project as per GAZT circulars, both effective from 01 Jan 2018;
8. Help to issue periodic reports at completion of each audit to Chief Audit Executive summarizing results of audit activities;
9. Assist in the investigation of significant suspected fraudulent activities and notify to Chief Audit Executive.
My responsibilities at Arabian Pipes include;
1. Implement the annual internal audit plan duly approved by Audit Committee under directions of Chief Internal Auditor;
2. Provide information on the status and results of the annual audit for various departments and give a formal presentation on the completion of annual audit to the Chief Audit Executive;
3. Assess the effectiveness of internal controls of the Company by reviewing the Key Control Tracker;
4. Report significant issues to the Chief Audit Executive related to the processes for controlling the activities of the Company, together with recommendations for improvements to those processes;
5. Re-assess internal control system and risk management systems with suggestions to improve on periodical basis;
6. Follow the guidelines and methodology given in local listing rules, corporate governance and SOCPA Standards;
7. Help to issue periodic reports at completion of each audit to Chief Audit Executive summarizing results of audit activities;
8. Assist in the investigation of significant suspected fraudulent activities and notify to Chief Audit Executive;
9. Ensure that the Internal Audit Department complies with sound internal auditing principles and best practices;
10. Coordinate and meet with external auditors to improve internal control systems;
11. Check compliance to Local Companies law and requirements of capital management authority;
12. Maintain operational risk register with feedback from process owners to manage operational risk area of the Company.
My Role to manage compliance department;
1. Assisting the HRC(Head Risk and Compliance) in the achievement of the overall objectives of the compliance department;
2. Analyzing monthly reports submitted by the branches by identifying breaches and weaknesses;
3. Assisting the HR team in the training of the bank staff on the matters pertaining to compliance;
4. Interacting with the personnel from other departments and communicate to them the issues regarding compliance;
5. Following the directives of the HRC regarding the initiation of investigative procedures in case, there is a violation of procedures, policies, rules or regulations;
6. Keeping up date with the changes in the regulatory environment and reporting to the HRC;
7. Reviewing and analyzing the internal and external reports for compliance with the relevant requirements, and forwarding to the HRC as per the procedure entailed in the section “Reporting Requirements” of this manual;
8. Carrying out on the spot review of the management policies, regulatory and legal compliance in branches through compliance officers appointed down the line with emphasis on the rectification of internal audit findings, Know Your Customer KYC), Anti-money Laundering (AML), implementation of the SOP’s and other areas may be instructed by HRC or the Senior Management.
My role to managing operational, credit, liquidity and reputation risks;
1.Educating the credit risk team about the Credit Risk Management (CRM), operational risk team about operational risk management and their significance to the bank;
2. Ensuring that the risk teams members fully understand their role and are performing their assigned tasks in an efficient and effective manner;
3. Reviewing the work of the credit risk team; including
I. Accuracy of the borrower appraisals
II. Analytical review of the financial numbers provided by the loan
officers in the entire loan proposal
III. Reassessment of the repayment capacity of the borrower carried out by the Branch Manager (BM) at the branch level
IV. Reassessment of the loan structuring done by the BM at the
branch level
V. Other tools applied to mitigate the credit risk, like adherence of
limits set by the BOD on portfolio concentration, borrower
repayment behavior during the last loan cycle, any material
changes in the business operations as compared to last year etc.
4. Assisting the HRC in the implementation of the bank’s operational risk policy;
5. Visiting the branches for carrying out the tests for operational risk identification and assessment;
6. Maintaining and updating all risks register and taking feed back of risk owners.
-Develop, test and maintain comprehensive internal audit plan and system of internal controls.
-Understanding the ERP Modules and their integration towards performing system audit.
-Designed proper system of Inventory management, Export sales and receipts management, Purchases management and Account Payables Management
-Check correctness of processing of data in ERP and ensure timeliness of posting of vouchers and generation of invoices.
-Ensured various integrated Modules are adequately reconciled regularly on every periodic closing of books of accounts.
-Identify, assess and evaluate the major risks and developing coping strategies.
-Ensure compliance of the Company with Code of Corporate Governance as applicable to listed Companies in Pakistan, IFRS and Companies Ordinance 1984.
-Planning and scheduling the audit engagements as Job-In-Charge of following clients;
a). Pakistan Petroleum Limited
b). Indus Refinery Limited
c). Karachi Tools, Dies and Moulds Manufacturing
c). Insurance Association of Pakistan
-Review the information technology operations and impact of technology on financial operation of companies.
-Assessment of control risks and performed tests of controls.
-Reviewing audit working papers of staff.
-Preparing consultation notes on contentious areas.
-Application of EY-Global Audit Methodology in the performance of audit.
-Review accounting and internal control systems.
-Performed substantive procedures for verification of balance sheet and profit & Loss account balances.
-Examination of, and reporting on, group financial statements of reporting packages of multinational companies.
-Supervising of staff engaged in audit and leading teams of up to 15 members.
-Review of compliance with Code of Corporate Governance.
-Assisting the clients in preparation of financial statements in compliance with the statutory requirements and IFRS.
Secondment 04 Months Ernst & Young Jeddah, Saudi Arabia
-Planning and scheduling the audit engagements as Job-In-Charge of following clients;
a). Emaar, the Economic City
b). SAB Establishment
c). Emaar Middle East and LL C
c). Advanced Electric Limited
-Review the information technology operations and impact of technology on financial operation of companies.
- Understanding and practical implementation of SOCPA Standards.
-Understanding of audit planning tools as per Global Audit Methodology.
-Documenting significant systems (short term and long term investments, Sales, Purchases, Inventory, Cash Receipts and payments, Fixed assets) of the Oragnisations being audited/Reviewed.
-Application and understanding of substantive audit procedures and audit objectives associated.
- Application of analytical procedures on review engagements.
-Understanding of Companies Ordinance 1984 provisions, IAS, IFRS and listing regulations of stock exchange.
Certified Internal Auditor
I completed one of the most prestigious Accounting degree having international recognition having three layers of knowledge foundation, intermediates and finals. Its the only specialized degree in accounting that need practical experience for its completion.
Member of this Professional body Jointly operated by ICAP and ICMAP
Passed B.A exams in 2nd division from Punjab University lahore
