Musharraf Safdar

Planned audits, finalized financial statements in accordance with IFRS, assisted the clients with VAT return submissions and transaction analysis.

Audit Assignments
Carried out audit engagements from planning to finalization and reported issues at the manager / partner level;
Managed initial meetings with clients to understand the expectations, developed audit strategy through evaluation and identification of the client’s audit risk, ensured quality execution of audits in coordination with audit team;
Planned internal resources, supervised the audit team and reviewed their work analytically;
Identified weaknesses in internal controls system and suggested improvements to management team;
Communicated with client’s management including agreeing on terms of engagement, identified and discussed on resolution of core issues, updated on developments to International Financial Reporting Standards (IFRS) and assessed the consequent impact on financial reporting;
Managed cross border portfolio of clients and communicated with component and group auditors for group reporting;
Identified business development opportunities for cross selling;
Prepared financial statements, combined reports, agreed upon procedures reports, special purpose financial statements and consolidated financial statements in accordance with IFRS/ISAs and local laws;
Utilized financial analytical tools to gauge financial performance and position of clients;
Developed training materials for in-house training on IFRS to address specific training and development needs;

VAT Assignments:
Registered individuals and group companies with the FTA;
Prepared VAT impact assessment reports of various clients in different industries;
Suggested new changes in system for various VAT reports for filing VAT returns;
Reviewed VAT entries, coordinated and supported clients with VAT related queries, prepared and electronic-filing of the VAT returns for various sectors.

My role was to manage the accounts, finance, preparation of MIS report, financial statements and maintain/improve the internal control system. Key responsibilities were to:

Maintaining the books of accounts and treasury functions of different companies.
Providing technical financial and accounting support to finance team.
Coordination and preparation of annual budgets and forecasts, reporting the variations in budgets and forecasts in monthly management reports, including any future / potential exposures to the organization.
Preparation of monthly MIS reports for higher management, quarterly and annual financial statements after pre-closing review and checks in line with the established policies and IFRSs.
Cash flow management, review of payments to key suppliers and receivable collection with follow up on regular basis maintaining appropriate liquidity.
Developing, applying and maintaining consistent and effective policies and procedures for strong internal controls.
Coordinating with different departments of organizations on financial aspects.
Liaison with banks, auditors, vendors and other external parties for contract negotiations.
Setting up appropriate chart of accounts, processing of accounting transactions, maintenance of books of accounts, general ledger, receivables, payables, reconciliations, payroll, inventory management, fixed asset management.

Performed various assurance and non-assurance assignments including statutory audits, receivables & payables verification, grant audit, income & expenditures verification, internal audit and stock taking verification.
Coordinating with professionals of various fields like legal, tax and IT experts for resolution of critical reportable matters.
Special assignments like covenant compliance for stock exchange listing, bank borrowings etc.
Evaluation of financial and business performance, preparation of financial appraisal reports of businesses, projections of accounts, assessing credit worthiness of business.

Working in accounts payables module of Oracle ERP on implantation stage while keeping Wizmen ERP parallel for 3 months
Invoice entry for local suppliers both in Wizmen and Oracle ERP
Payments for local suppliers both in Wizmen and Oracle ERP
Preparing sales tax returns both in Wizmen and Oracle ERP