Head Of Internal Audit
Al Fardan Exchange LLC
Total years of experience :25 years, 1 Months
Accurately providing reports to management and audit committee on the adequacy and effectiveness of internal control structure, along with practical recommendations to improve the effectiveness, efficiency and economic value of a control or process
Providing executive summary of audit reports to audit committee
Working as “Management Representative” on ISO: 9001:2008 project
Acting as primary key contact for the whistle blowing service (Itisal al Nazahah) for all the day to day and other operational matters
An active member of internal fraud investigation committee, whose prime task is to evaluate various internal and external frauds taking place in the business and assessing the gaps for future improvements and presenting recommendations
Competently managing the internal audit function by supervising a team of 8 senior auditors and direct its activities and administrative responsibilities
Develop the internal audit budget and submit plan to Group Head of Audit and Audit Committee for approval
Develop flexible rolling medium to long term and yearly audit plans, providing for review of business units at appropriate intervals and using risk based methodology
Implement the annual audit plan as approved the audit committee, including any special task or projects as per request of management and audit committee
Maintain a professional audit support network which collectively have sufficient knowledge, skills and experience
Establish a quality assurance program to ensure that internal audit function is executing its assigned tasks up to expectation
Evaluate and assess significant new or changing operations, processes and system coincident with their development, implementation and expansion
Effectively planning and supervising activities of audit team involving conducting reviews of management and financial systems which includes evaluation of its adequacy and effectiveness
Proficiently supervising the risk assessment during the planning and execution of the audit
Evaluating each department’s performance in their planning, accounting, operational, custodial, and control activities in compliance with management instructions, policies and procedures and in a manner consistent with approved objectives and high standards of business practice
Reviewing audit programs and working papers prepared by the team and providing guidance to team members on various issues encountered by them during the various stages of audit
Monitoring the progress of concurrent audits and providing Senior Management and Audit Committee with status reports of various audits
Discussing the audit reports with area owners and resolving audit issues with Senior Management
Issue periodic reports to audit committee summarizing results of audit activities and status of implementation of past audit recommendations
Keep the audit committee informed of emerging trends and successful practices in internal auditing
In charge of overall reporting to Dubai Financial Services Authority (DFSA) and all regulatory returns to Ministry of Economy
Participated within the team responsible for the implementation and control of the prestigious group wide ‘Fast Close’ project. The project related to internal reporting of schedules and methodology with regards to the complete quarterly closing and respective periodic reports submitted by Allianz to the NYSE. It involved preparation of financial statements of the branch, and provided all technical figures to head office using Automated Data Transfer, accruals, provisions and revaluation of balance sheet accounts and reporting of affiliated companies figure
Successfully prepared all periodic internal management MIS reports as well as provided commentary on results, including preparation of plans and forecast and finalizing them with CFO and central controlling department (Munich - Germany)
Core member of migration team responsible for migration of branch General Ledger to enterprise wise SAP platform as nominated by the Allianz SE Dubai to work on this on account of experience and insight of business accounting processes and structures. This involved working as part of the project team in mapping of all relevant tables, reconciliation of figures post migration, undergoing extensive end user training on SAP modules
Incharge of treaty accounting team and have managed 2 accountants
Responsible for SOX compliance and documentation
Handled the Reinsurance accounting of various ceding companies and brokerage firms for the Middle Eastern and North African region
Responsible for Investments of the branch and its financial reporting to Head Office, including fixing deals on Time deposits with banks and buying and selling of units purchased from PIMCO
Liaised with bankers on a daily bases on various accounting and financial related matters, and co ordination of statutory audit with external auditors
Controlled credit control and cash flow management of the branch, and supervised over 300 multi currency accounts receivable / payable in the Middle Eastern and North African region
Worked as “Chief Accountant” with Artistic Milliners (Manufacturers and Exporters of Denim Fabric). Brief summary of my work is as follows;
• Costing of inventories.
• Overall supervision of all the financial matters of the factory in liaison with head office and preparation of accounts.
• Maintenance of sales tax records and supervision of sales tax invoices.
• Supervision of Payroll, petty cash and all stores of the factory.
• Supervised 4 staff members of Finance department.
• Preparation of Daily Production and Dispatch Report.
Completed Article ship as a “Senior Auditor” from Ernst & Young International - Chartered Accountants. My association with Ernst & Young International - Chartered Accountants, has given me the exposure to work with many organizations relating to different sectors of the economy, some of which are as follows:
• National Refinery Limited
• Adamjee Insurance Company Limited
• BASF Pakistan (Private) Limited
• Investment Corporation of Pakistan
• First Habib Bank Modaraba
• Artistic Denim Mills Limited
• BSN Medical (Private) Limited
• Getz Pharma Pakistan (Private) Limited
Successfully completed the course from IIA USA
Sucessfully completed all four parts of CFE examination in the first attempt from ACFE.
Successfully completed all the four papers of CIA in the first attempts.
• Chartered Accountant (Finalist) - Permanent Credit in ‘Information Technology’ of C.A Final Examination Part 11 of the Institute of Chartered Accountants of Pakistan (ICAP), and appearing for 3 remaining papers.
• Certified Public Accountant – Fellow Member of Pakistan Institute of Public Finance Accountants since the year 2004.
completed MA (Eco) in 2001 from karachi university.
completed Bachelor of Arts from karachi university.
completed Bachelor of Commerce from karachi university
