Senior Manager Internal Audit
AWRostamani Group
Total years of experience :21 years, 2 Months
Reporting directly to the audit committee and managing a team of 11 (all are certified professionals), with the following major responsibilities;
● Governance, Risk and compliance
● Operational audits for financial, operational and managerial processes
● Process maturity assessments
● IT audits
● Fraud investigation
● Data analytics
Some of the key initiatives taken are as below;
-Audit Automation, Governance structuring and performance improvement
- Remodeled the audit function through digital transformation using predictive analytics, real time monitoring and by creating valuable insights for the shareholders.
- Moved audit beyond its traditional, reactive assurance stance to more proactive and business enabling role as a trusted advisor and helping the shareholders in strategic decision making.
Major companies’ governed by the Group are as follows;
- Arabian Automobile (Nissan, Infiniti and Renault- Sales and after Sales)
- Shift Leasing (short and long term automotive leasing)
- AWR Lifestyle (Retail business for apparels, online and in stores- major brands are Apartment 51, American Rag, Grafiti)
- AWR Properties (Real Estate developer, leasing and maintenance- total portfolio is more than 200 properties across UAE, Europe and America)
- Shift Technologies (IT tools development and licensing)
- Building Industries (Interior decoration for major hotels and businesses)
- AWR Lumina (lightening assembling and distribution- a joint venture with General Electric)
Major Achievements:
In 2019, AWR Group Internal audit department was assessed by Dubai Economic Department and was awarded the most prestigious Dubai Quality Gold Award across UAE. In addition, the audit department at AWR was assessed for quality assurance by PWC and was awarded a rating of 4.5 (out of 5), the highest in the MENA region.
Job Summary:
I am responsible for planning, executing and reporting on operational, financial, regulatory and compliance related audits/reviews of the group of Companies
Responsible for all Internal Audit activities for the following Companies;
- Al Khaleej Sugar Company L.L.C (Manufacturing - Worlds largest refinery of sugar)
- Al Khaleej Trading (Trading)
- K and J L.L.C (Trading)
Responsibilities:
• Plans financial, regulatory, compliance or operational reviews/audits.
• Coordinates work with Risk, Legal & Compliance and other control-related activities and with others within the organization.
• Conducts risk assessments and identifies controls in place to mitigate identified risks.
• Performs audit procedures to verify that controls are operating through testing and interviewing techniques.
• Analyses and concludes on effectiveness and efficiency of control environment.
• Identifies control gaps and opportunities for improvement.
• Documents the results of audit work in accordance with audit department and the Institute of Internal Auditors (IIA) standards.
• Prepares timely audit reports for the review of Chief Internal Auditor.
• Assess, evaluate and promote compliance to internal policies of the Group.
• Contributes, as appropriate, in the year-end financial audit with the external auditor.
• Provide advice on internal control and participates in enhancing internal audit standards and practices within the Group.
• Provide feedback on performance of Internal Auditors, on audit assignments, as applicable.
Competencies/Attributes:
• Conveys an Inspirational vision & strategy of Internal Audit Department.
• Supervision of team of 7 individuals on projects to follow sound internal control practices and to manage risks appropriately.
• Collaborate and supporting colleagues and peers across the organization, while still being able to work independently when needed.
• Meet deadlines on assignments, juggle multiple demands and to work with all types of individuals.
PROFESSIONAL EXPERIENCE: Dubai- Office
Since 1 April 2008 to date:
Working as an Assistant Manager. My responsibilities included planning, coordinating, supervising, reviewing and reporting diverse auditing, accounting and special engagements including review of accounting, information and internal control systems of different clients.
Planning of audits, organization and participation in initial meetings with clients to understand the expectations and designing audit strategies after assessing the audit risk associated with the client;
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;
Delegation of audit work to the staff members according to the level of their knowledge and experience and supervising them to ensure timely and effective completion of the job.
Coordination of the audit work with the staff involved at various audit locations
Review of team member’s audit work in light of technical standards, generally accepted accounting practices, accounting and auditing standards, Corporate Governance Guidelines, Companies Laws, Income Tax laws and other relevant rules and regulations
Monitoring the timely preparation of all deliverables to the client that include financial statements, management letters (highlighting control weaknesses and recommendations) and other deliverables
Ensuring quality of service to the clients and assuring their satisfaction to the services provided
Advisory services to the clients on various accounting, corporate and financial issues
Reporting of important audit issues to the manager and partner and participation in the Final audit meetings.
Secondment
Dubai- Office
Deputation to Ernst & Young (E&Y) Dubai office in Audit Assurance & Business Advisory Division (from January 2007 to March 2007).
Lahore- Office (Pakistan)
Since 1 January 2003 to 31 March 2008:
Worked as an audit trainee to audit supervisory senior. My responsibilities included planning, coordinating, supervising, reviewing and reporting diverse auditing, accounting and special engagements including review of accounting, information and internal control systems of different clients.
I am a certified business analyst. This certification helped me to introduce innovation in the field of Internal Audit. Deep data analysis helps to find out those exceptions which a normal analysis cannot perform.
Associate Member of Institute of Chartered Accountants of Pakistan Associate Member of Publice certified Accounting body of Pakistan Associate Member of CPA Pakistan