Senior Internal Auditor
Khalid Ali Alturki & Sons Holding Co. (Alturki)
Total des années d'expérience :18 years, 2 Mois
Subsidiaries covered:
Saudi Ready Mix
Musanadah
Masheed
Sawafi
InmaSteel
Inma Technologies
Samara
Arkaz
• Prepares Annual Internal Audit Plan based on Risk Assessments covering all areas of subsidiaries and submits to IA Director and the Audit Committee for approval.
• Prepares all required information needed for Audit Committee meetings
• Attends Audit Committee and presents as required.
• Acted as Interim Internal Audit Director from Feb. 2018 to June 2018.
• Coaches colleagues who seek advice on their internal audit assignments.
• Accomplishes Internal Audit engagements assigned by the Internal Audit Director in accordance to the Annual IA Plan and schedules.
• Develops Audit Program using Risk-Based Internal Auditing approach.
• Conducts internal audit engagements objectively, systematically and with utmost professionalism.
• Recommends value adding improvements with the respective responsible persons and agree with their action plans.
• Prepares timely, factual and clear Internal Audit Reports.
• Tracks implementation progress of action plans with the concerned parties.
Subsidiary Companies Covered (2012-2015):
1. El Seif Engineering Contracting (ESEC) - Contracting
2. RDB - Pre-Cast
•Accomplished Internal Audit engagements assigned by the Chief Internal Auditor in accordance to the annual audit plan and schedules approved by the Audit Committee.
•Applied Risk-Based Internal Auditing in all assignments.
•Completed various Project Audits for construction projects under ESEC which contributed to improvement of the overall status of the project and company processes involved:
o Conference Center Project - Riyadh, KSA
o 5 Star Hotel Project - Tabouk, KSA
o Shopping Mall Project - Hail, KSA
o 5 Star Hotel Project - Hail, KSA
o Samba Headquarters - Riyadh, KSA
•Project Audit majorly covers the following areas but not limited to:
o Procurement and Supply Chain Management
o Equipment Management
o Inventory and Warehouse Management
o Planning and Operations
o Contract Administration
o Cost Control
o Project Finance and Accounting
o Project Administration
o QAQC/QMS/HSE
•Completed fraud investigations with utmost detail and secrecy as required:
o Successfully identified more than SAR4M embezzlements in one of the investigations conducted and was subject for recovery and legal actions.
o Forwarded various fact finding reports to Disciplinary Action Committee.
•Completed special internal audit assignments as directed by the Chief Internal Auditor to cover urgent and risky matters that come to the attention of the management:
o Overtimes - ESEC
o RDB El-Seif Co. - Riyadh and Al-Karj, KSA
o Reinforcement Steel consumption - Conference Center, Riyadh, KSA
o Reinforcement Steel consumption - HHR, Rabigh, KSA
o Marble works - Hail, KSA
•Performed compliance audits based on the existing policies and procedures of the company:
o Inventory and Warehouse Management
o Procurement and Supply Chain Management
•Provided valuable input in the development of Internal Audit Department Annual Plan.
•Actively provided input to colleagues on the internal audit assignments they are handling.
•Pro-actively informs the Internal Audit Manager of all information gathered beyond an assignment’s scope that may, once audited, may add value to the company.
•Contributed to the creation of the Internal Audit Department’s Charter and Whistleblowing Policy.
•Assesses the relevancy, reliability and credibility of financial and operating information and the effectiveness and efficiencies of the utilization of the organization's resources
•Scrutinizes records of assets including materials, equipments and other assets; ascertaining their safeguarding and proper depreciation being charged.
•Promotes the adoption of the best practice in internal control system through audit recommendation and consulting activities.
Subsidiary Companies Covered (2015-present):
1. Musaed El-Seif and Sons Company (MES) - Operation and Maintenance
2. El-Seif Operation and Maintenance (ESOM) - Operation and Maintenance and Catering
3. Saudi Medicare Company (SMC) and subsidiaries - Medicare
4. Saudi Tamat Contracting (STC) - Interior and Finishing Works
5. Elite Trading Alliance (ETA) - Trading and Material Supply
•Recently pioneered a new Internal Audit Department handling other El-Seif Subsidiaries listed above reporting to its Board and Audit Committee.
•Created the Internal Audit Charter and cleared the reporting line of the department.
•Submitted Annual Plan based on Risk Assessments done throughout the assigned companies. Part of the plan is a proposal for establishing an IAD for SMC after understanding its risks and business nature.
•Accomplished the Annual Plan as scheduled which includes Supply Chain Management (Procurement and Warehouse of two of the companies) and HR (Recruitment). Also, completed various Special Audits related to concerns of the Board for Catering Operations and Client Invoicing.
• Pioneered the establishment of the Internal Audit Department
• Created the Internal Audit Charter and set the department’s mission, objectives, scope, authority, responsibility, independence, impartiality and continuity
• Created policies and procedures for Internal Audit Department such as Internal Audit Engagement Procedure and Whistle Blowing Policy
• Developed policies and procedures such as Clearance Policy, Procurement Policy and Procedure and Petty Cash Policy and Procedure for the process owner’s assessment and acceptance
• Developed Risk and Audit Management Framework suitable for the company
• Championed establishment and promotion of Risk Management
• Prepared the Annual Audit Plan, approved by the Internal Audit Manager and Managing Directors
• Executed Audit Engagements based on the approved Annual Audit Plan
• Delivered audit services such as Operational Audit, Financial Audit, Compliance Audit, Fraud and Investigations and Consultation services
• Accepted and accomplished Special Audit Assignments such as Post Project Appraisal from Managing Directors
• Provided suitable recommendations that enhanced and improved operations
• Attended management meetings as summoned and provided opinions and insights
• Monitored the action plan of process owners
• Supported the company objectives on ISO 9001:2008 conformance
• Created the Internal Audit Charter and set the department’s mission, objectives, scope, authority, responsibility, independence, impartiality and continuity
• Established the Internal Audit Manual and take part on the company’s Internal Quality Manual
• Acted as the Internal Audit Manager due to position vacancy
• Prepared the Annual Audit Plan for the Managing Director’s approval
• Executed Audit Engagements based on the approved Annual Audit Plan
• Delivered audit services such as Operational Audit, Financial Audit, Compliance Audit, Fraud and Investigations and Consultation Services
• Designed shift program for the company to adapt Risk-Based Auditing methodology
• Accepted and performed Special Audit Assignments from Managing Directors
• Monitored action plans from recommendations
• Supervised an internal auditor, provided trainings and work assignments relative to the execution of the Audit Plan
• Presented to Managing Directors the Internal Audit Department’s accomplishments and improvement plans
• Supported the company’s objective on ISO 9001:2008 conformance and certification
• Coordinated with the Legal consultant for legal issues on fraud and investigation activities
• Handled bookkeeping functions of Loans Department using the bank provided system
• Handled bookkeeping functions for branch accounting using the bank provided system
• Prepared reports needed by the management and the managers of different branches on a regular/timely or per request basis
• Monitored loan portfolios of different branches
• Monitored age and status of more than 2000 accounts around Quezon Area
• Trained incoming bookkeepers for Loans Department and Branches
• Reported directly to the Audit Manager and Managing Directors
• Performed Audit tasks and work instructions
• Conducted audit engagements, created Audit Reports and gave recommendations
• Conducted spot cash audits
• Monitored action plans from recommendations