Muhammad Umar Asghar, Assistant Manager Audit and Assurance

Muhammad Umar Asghar

Assistant Manager Audit and Assurance

BDO Dr. Mohamed Al Amri

Location
Saudi Arabia - Dammam
Education
Master's degree, Accounting, Auditing, Finance
Experience
12 years, 7 Months

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Work Experience

Total years of experience :12 years, 7 Months

Assistant Manager Audit and Assurance at BDO Dr. Mohamed Al Amri
  • Saudi Arabia - Dammam
  • My current job since November 2016

Fellow member of ACCA (U.K) with over eight years of progressive experience in the Public accounting at BDO and Deloitte on the audits of multiple global public and private companies, with significant experience and technical knowledge of IAS, ISA, IFRS, and SEC reporting. Currently working as Assistant Manager Audit and Assurance at BDO KSA, previously worked as a Senior Audit and Assurance Associate at Deloitte, Pakistan and Saudi Arabia. Role involves planning and leading engagements of various listed and non listed entities and ensuring deliverables meet the committed timeline. Dealing with client’s senior management on deadline agreements and effective flow of information to team members. Managing teams and reviewing their working papers to ensure audit procedures are being applied effectively in view of assessed risk. Identifying issues and researching over the same to advise client on fair presentation of financial statements.
During my stay at BDO, I learnt and mastered my skills in accounting and auditing. Brief Description of Roles and Responsibilities:

 Learnt global audit methodology used by BDO to provide audit and assurance services to clients in almost every sector;
 Planning, performance, finalization and review of Audits of various companies (listed and unlisted) as a team leader;
 Worked as a key member on Audits of Listed entities recently converged from SOCPA to IFRS;
 Use of data analytics to deliver effective and efficient audit;
 Assessment of control risk and designing the tests of controls for specific areas in consultation with the engagement manager;
 Designing the substantive procedures in consultation with the engagement manager;
 Reviewing the work done by the team members and, getting it reviewed by the engagement manager and engagement partner, and ensuring professional development of staff;
 Communication and liaise with audit clients over audit requirements, audit finalization deadlines, audit deliverables, financial statements and relevant disclosure requirements, management reports and requirements;
 Facilitated the Annual Practice Review of BDO foreign offices and Quality Control Review SOCPA Saudi Arabia;
 Checking compliance with reporting requirements of financial statement with local statutory requirement and applicable IFRSs;
 Process assessment and suggesting improvements to clients in consultation with Manager and Senior Manager;
 Conducted various regulatory certifications for clients, and consultation on significant matters with various professionals such as lawyers, tax advisors, actuaries, and IT experts;
 Providing basic advisory services to clients in respect of Zakat (taxation), accounting treatment of transactions and compliance with secretarial practices;
 Preparation of audit report according to ISA requirement of key audit matters (KAM);
 Reporting to Managers, Senior Managers, Directors and Partners.

IFRS Conversion Projects:

 Diagnostic gap analysis exercise for the largest contracting entity of the country (listed) from existing accounting standards generally accepted in KSA to IFRS;
 Quantification of the adjustments arising due to gap analysis exercise;
 Review of the adjustments made to financial statements on IFRS transition date;
During the course of my overall professional experience of over eight years at BDO and Deloitte I was involved in statutory audits, quarterly reviews, and other special assignments of various clients in following sectors:

 Retail
 Petrochemicals
 Construction
 Trading
 Manufacturing
 Oil, Gas and Energy
 Services Providers
 Textile
 Multinational corporations

audit senior at Deloitte Touché Tohmastu, Lahore, Pakistan.
  • Pakistan - Lahore
  • January 2011 to January 2016

Having experience of above five years at Deloitte my key responsibilities included:

 Learnt global audit methodology used by Deloitte to provide audit and assurance services;
 Assisting clients in preparation of financial statements in accordance with the applicable financial reporting frame work including compliance with International Financial Reporting Standards (IFRS), local corporate laws and directives of regulatory authorities;
 Leading team through the planning, execution and completion stages of audit;
 Analysis of Financial Statements;
 Liaison with client’s management and communication of relevant matters to persons at appropriate level of responsibility;
 Coordinate with the Managers to define the extent of planned audit procedures, and to update on progress of engagement;
 Facilitated the Annual Practice Review of Deloitte foreign offices and Quality Control Review of The Institute of Chartered Accountants of Pakistan.

Education

Master's degree, Accounting, Auditing, Finance
  • at ACCA
  • June 2012

ACCA Member with majors in Advanced Financial Management, P4 and Advanced Audit & Assurance, P7. Professional Ethics Module completed.

Bachelor's degree, Accounting, Finance, Auditing
  • at Oxford Brookes University
  • September 2011

BSc (Honors) Applied Accounting, Oxford Brookes University (UK) Class of Degree: 2:1. Research Analysis Project: The Business & Financial performance of Honda Atlas Cars Pakistan Limited over a three year period

Master's degree, Accounting and Finance
  • at PIMSAT
  • August 2010

MBA with major in Accounting and Finance.

Diploma, Accounting, Finance
  • at ACCA
  • June 2006

Passed exams by securing above 75% with majors in Tax, T9 and Managing Finances, T10.

Specialties & Skills

Auditing
Accounting
taxation
Budgeting
Finance
MS Office
Deloitte international software
BDO international software

Languages

English
Expert
Urdu
Expert

Memberships

ACCA (U.K)
  • To participate in CPD
  • January 2014

Training and Certifications

BDO Audit Methodology 2017 (Training)
Training Institute:
BDO international
Date Attended:
June 2017
Duration:
16 hours
Audit Approach and Methodology (Training)
Training Institute:
Deloitte Touche Tohmastu
Date Attended:
November 2011
Duration:
40 hours
Audit Excellence 2012 (Training)
Training Institute:
Deloitte Touche Tohmastu
Date Attended:
December 2012
Duration:
16 hours

Hobbies

  • Reading books and exploring internet