Internal Audit Manager
Midis Group
مجموع سنوات الخبرة :10 years, 3 أشهر
MIDIS Group is a group of IT companies with over 150 companies and more than 4500 employees distributed in Asia, Europe, and Africa with a turnover of more than $ 4.5 billion. MIDIS Group partners are leading brands such as: Apple, Microsoft, Dell, IBM, HP, Lenovo, Cisco, EMC, Symantec, SDMO, etc.
• Geographical coverage extends from Qatar, Oman, KSA, Jordan, Bahrain, to UAE (Ras Al Khaimah) with more than 30 companies (Software Solutions & Professional Services, System Integration & Telecom, Computer Systems, Networking, Securities, Site & Power, Re-Sellers, Distributors, & Production).
• Conduct Financial (IFRS, Balance Sheets, Trail Balance P&L, Cash Flow, Credit control, budget and forecasting vs Actual analysis, Payables, Receivables, Operating expenses, G&A expenses, Bank LCs & LGs), Compliance (US Export Compliance and FCPA), Operational (Policies, Procedures, Workflow & Warehousing management), HR, and Insurance audits.
• Analyze company’s market share via reviewing company actual sales vs estimated sales vendor sales.
• Analyzed projects revenue and estimated cost vs actual, overhead contributions, sales results and the company's actual performance compared to the business plans.
• Working closely and conducting joint meetings with Finance, Operations and Sales to strengthen key areas and target financial growth (sales margin, vendor and customer payment terms and contracts) whilst discussing and suggesting strategies to reduce cost. (mass/bulk ordering, early payment, ordering from sister companies).
• Ensure that yearly, quarterly and month end closing is timely and accurate.
• Coordinate and communicate with external auditors during their yearend visit.
• Maintaining Activity Based Costing via ensuring that proper cost is allocated to its corresponding project.
• Conduct Due Diligence as part of the Mergers and Acquisitions which is also an internal audit responsibility within the group
• Compile the financial and operational audit findings into an audit report and recommend effective measures and procedures.
• Ensure that good governance is stressed throughout the company through verifying, amending, & developing policies, procedures, forms, applications, and training.
• Execute the approved audit plan and lead the audit in the implementation (surprise /announced).
• Conduct Fraud Investigations, interviews and reporting.
• Compile audit findings into an audit report (Findings”5 C’s”, Risk, Priority, Recommendations, & Management Action Plan) then follow up on implementation of the approved audit recommendations.
• Ensure that good governance is stressed throughout the company through verifying, amending, & developing policies, procedures, forms, applications, and training.
• Work with management to identify and analyze all major risks on a monthly basis.
• Provide an independent and unbiased opinion to management on the control environment by evaluating its effectiveness in achieving the organizational objectives.
• Plan and prepare an Annual Audit plan & scope.
• Execute the approved audit plan and lead the auditors in the implementation (surprise /announced).
• Compile audit findings into an audit report (Findings”5 C’s”, Risk, Priority, Recommendations, & Management Action Plan).
• Ensure that good governance is stressed throughout the company through verifying, amending, & developing policies, procedures, forms, applications, and training.
• Attend and offer consultancy advice on all major meetings and projects.
• Prepare Monthly, Quarterly & Annual Board Reports as well as attending Quarterly Board Meetings.
• Work with management to identify and analyze all major risks on a monthly basis.
• Analysis of Regional Sales Reports and identifying errors.
• Identifying lack of control in all business processes then presenting action plans and recommendations to Managing Director.
• Developed, amended, implemented, & monitored company policies, procedures, forms, & applications (finance & Operations) also liaised with lawyer to ensure that the forms & applications are legally binding (finance)
• Direct support to Managing Director in all aspects of the Company’s operations
• Lead, implement, and closely monitor projects.
Achievements
Established, headed, and managed an internal audit department. A green field operation covering Saudi Arabia & GCC countries.
Conducted Head Office, Operations, Branch, and market audit hence ensuring continuous improvement by establishing efficient and effective processes.
Developed the Profit & Loss Report by Customer Category for management which helped in reducing cost in the Key Account channel.
Reviewed, analyzed, and added recommendations to 3100 contracts which resulted in ameliorating 40% of the contracts.
Due to the regular contact & communication with Ac Nielsen, contract negotiation and renewal was successful and resulted in a $ 50K discount.
Analyzed competitors’ financials and briefed Board of Directors in Board Meetings.
Successfully led the simulation and analysis of the new commission scheme for all sales team then liaised with IT to develop a program.
Supervised credit controller for a period of 2 month substantially improved the Account receivables and set a company record for collections. ( 35% increase)
Developed, trained, implemented, & monitored closely Temporary Credit Policy.
Developed, amended, implemented, & monitored company policies, procedures, forms, & applications (finance & Operations) also liaised with lawyer to ensure that the forms & applications are legally binding (finance).
Analysis of regional reports and identifying errors, resulting in major productivity and profitability improvement.
Developed Nada’s new website in association with an outsourced Web Developing Company.
• Conduct audit projects.
• Review records accuracy and conformance to standards.
• Inspect financial or operational information, ensuring procedures are applied correctly.
• Compile audit findings and recommend revisions to systems and procedures.
• Conducted Audits based on Annual Audit plan.
• Audited projects either full project audit or functional audits depending on risk assessment.
• Audited all transactions (PV, RV, BOQs, PCs & JV) on Daily basis and made sure that proper accounts were affected.
• Compared Actual cost vs estimated then allocate and analyze differences.
• Check if project time table is maintained and on schedule then delays with cause and analysis and recommendations.
• Audited transitory and mirroring accounts and assured that transacations ageing more than 3 month3 were cleared or explained.
• Reported irregular transactions to Management.
• Accurately delivered all investigations on time.
• Identified lack of controls of reports and physical check outs in all business processes (finance, accounting, cost control, purchase, supply, administration, sites & projects, & warehouses)
• Prepared Cost analysis report for all company then broke down into each cost center.
• Updated cash flow report on daily basis.
• Identified problems and analyzed root causes and key facts to develop issues
• Solve routine problems associated with day to day job with ease and without need for further direction
• Identify process improvements and design solutions as needed
The MSc in Finance, Accounting and Management focuses on the key elements of business, with a strong emphasis on creating and measuring value through the principles and practice of accounting and finance. The course aims to produce fully rounded practitioners with an appreciation of all business disciplines. Students will also have the benefit of working in the new Trading Room, with access to real-life market trading data provided by Bloomberg Professional, and may wish to complete the Bloomberg Essentials Online Training Programme (BESS).
Completed BS in mathematics at AUB