Mustafa Alayoubi

DVKC Board Secretary November 2022 - Present The Dhahran Techno Valley Company (DTVC) is a wholly owned subsidiary of the King Fahd University of Petroleum and Minerals (KFUPM) and a key driver of the Dhahran Techno Valley Ecosystem, intended to provide strategic guidance, control and support capabilities in technical commercialization of to its subsidiaries operating in Technology, education and investment. As the Internal Audit Executive Director, I provide strategic guidance, control, and support to DTVC and its subsidiaries in the areas of technology, education, and investment.
My Rules and Responsibilities:
• Leadership and Management: Manage the operations and audit activities of the Internal Audit teams at KFUPM and DTVHC, ensuring efficient execution of audit plans and adherence to professional standards.
• Framework Development: Establish the internal audit framework, including charters, manuals, and policies, to support effective risk management and governance.
• Strategic Advisory: Provide strategic counsel to the DTVHC CEO and subsidiaries leadership on governance matters and corporate structure, contributing to the companys overall direction.
• Risk Assessment and Management: Lead comprehensive risk assessments across departments and sectors to identify potential vulnerabilities and develop targeted audit plans.
• Audit Planning and Execution: Develop and implement a risk-based, three-year internal audit plan, ensuring that audit resources are allocated effectively to address critical areas.
• Audit Procedures: Review, approve, and improve the various audit procedures employed by the audit team, including business understanding, risk assessment, control testing, substantive testing, and analytical procedures, to assess the effectiveness of internal controls.
• Reporting and Communication: Prepare, review, and improve detailed audit reports, conduct exit meetings with auditees, and issue fraud and investigation reports as required.
• Consulting Services: Provide ad-hoc consulting services to the Audit Committee or CEO on specific governance or risk-related matters.
• Quality Assurance: Ensure the highest quality standards are maintained in all audit deliverables, ensuring that departmental mandates and objectives are met.
• Board and Committee Support: Manage the DTVHC and DVKC Audit Committee and Board meetings, including preparation of agendas, minutes, and other administrative tasks. Ensure that all necessary decisions are communicated and approved by the general assembly.

Bakheet holding company is a mother company for 4 different subsidiaries operating in heavy equipment, operational leasing, construction, and space rentals.
Bakheet Company for Machinery is the main company in the group, established in 1974, is a firm committed to providing quality solutions by offering the right Heavy and light equipment’s and the related maintenance services to its valuable customers.
Bakheet Company for Machinery are one of the most experienced suppliers in Concrete Plants & Pumps, Roads Construction, Earth Moving, Cranes and Light Equipment, Concrete Solutions & Garage Equipment industries
My Rules and Responsibilities:
▪ IA Department Infrastructure: Established the IA Department infrastructure, including the Audit Committee Charter, IA Charter, IA Manual, Job Descriptions, and sourcing of qualified IA team members.
▪ Leadership and Management: Manage the overall operations of the Internal Audit function, overseeing audit engagements at both the holding company and subsidiary levels and ensuring adherence to best practices and professional standards.
▪ Department Management: Managed the IA Department, recruited and deployed qualified resources, and ensured the department's effectiveness.
▪ Internal Control Improvement: Conducted consulting projects with HR and collections departments to improve the internal control processes and procedures.
▪ Branch Evaluations: Conducted multiple branch visits to assess business processes, including warehouse operations, sales, collections, health and safety, and HR practices to ensure controls are in place and evaluate the branch performance.
▪ Risk mitigation: Successfully negotiated with process owners to prevent unnecessary risks and ensure compliance with operational and financial reporting standards.
▪ Risk Assessment and Planning: Conducted risk assessments across all Bakheet companies and subsidiaries, developed a three-year risk-based internal audit plan, and implemented it as approved by the Audit Committee.
▪ Fraud Investigations: Led fraud investigations in collaboration with the legal department to identify and address irregularities.
▪ Whistleblower Policy: Provided advice and recommendations for the establishment of a whistleblower policy and its online platform.
▪ Reporting and Communication: Presented and communicate the audit engagements results to the Audit Committee and the Board through regular meetings and updates.

Auto World is a leading provider of operational lease and car maintenance services in Saudi Arabia. As the Head of Internal Audit, I played a crucial role in establishing and leading the company's internal audit function.

Key Responsibilities and Achievements:
▪ IA Department Infrastructure: Established the Internal Audit Department infrastructure, including the Audit Committee Charter, IA Charter, IA Manual, Job Descriptions, and sourcing of qualified IA team members.
▪ Risk Assessment and Planning: Conducted a comprehensive risk assessment of Auto World's operations and developed a three-year risk-based internal audit plan.
▪ Branch Evaluations: Conducted multiple branch visits to assess business processes, including warehouse operations, sales, collections, health and safety, and HR practices to ensure controls are in place and evaluate the branch performance.
▪ Reporting and Communication: Presented and communicated the audit engagements results to the Audit Committee and the Board through regular meetings and updates
▪ Audit Plan Implementation: Successfully implemented and executed the approved internal audit plan.
▪ Whistleblower Policy: Provided recommendations for the establishment of a whistleblower policy and its online platform.
▪ Department Management: Managed the IA Department, recruited and deployed qualified resources, and ensured the department's effectiveness.

AL Madinah Region Development Authority is a Semi-government organization focused on developing the city of Madinah and responsible for implementing Madinah region’s comprehensive and strategic development plan. MDA is headed by Prince Faisal Bin Salman Al Saud.

My Rules and Responsibilities:
▪ IA Department Infrastructure: Established the Internal Audit Department infrastructure, including the Audit Committee Charter, IA Charter, IA Manual, Job Descriptions, and sourcing of qualified IA team members.
▪ Risk Assessment and Planning: Conducted a comprehensive risk assessment of Auto World's operations and developed a three-year risk-based internal audit plan.
▪ Audit Plan Implementation: Successfully implemented and executed the approved internal audit plan.
▪ Department Management: Led the IA Department, overseeing the recruitment and deployment of highly qualified audit team members, ensured the department's effectiveness, thoroughly reviewed audit programs developed by the IA team to ensure they accurately reflect key risks.
▪ Observer member in the Projects and Tender Committee: ensure proper procedure per the internal control system and provide recommendation as needed.

Dhahran Techno Valley Company (DTVC) is a wholly-owned subsidiary of King Fahd University of Petroleum and Minerals (KFUPM) and a key driver of the Dhahran Techno Valley Ecosystem. As a Senior Audit Consultant, I played a pivotal role in establishing and managing the internal audit function.

Key Responsibilities and Achievements:
▪ Department Infrastructure: Established the Internal Audit Department infrastructure for KFUPM, including the Audit Committee Charter, IA Charter, and IA Manual.
▪ Risk Assessment: Conducted risk assessments across KFUPM departments and sectors to identify potential vulnerabilities.
▪ Audit Plan Development: Supported the CAE in developing a three-year risk-based internal audit plan.
▪ Audit Plan Implementation: Successfully implemented and executed the approved internal audit plan, give the proper support and training for the audit team.
▪ Audit Procedures: Conducted business understanding, risk assessment, control testing, substantive testing, and analytical procedures to identify and assess risks and controls.
▪ Audit Reporting: Drafted audit reports for CAE review and managed exit meetings with auditees.
▪ Fraud Investigations: Issued fraud and investigation reports as assigned by the CAE.
▪ Consulting Services: Provided ad-hoc consulting services as requested by management.
▪ Whistleblower Policy: Participated in the establishment of the KFUPM whistleblower policy.
▪ Quality Assurance: Oversaw and provided quality control for the department's audit deliverables to ensure adherence to professional standards.

During my service with KPMG, I provided internal audit services to a diverse range of clients, the main clients I serve was: Higher Commission for the Development of Riyadh, Mobily Telecom, ASTRA Food Company, and King Fahd University of Petroleum and Minerals.

Key Responsibilities and Achievements for clients:
▪ Audit Planning and Execution: Developed and implemented risk-based internal audit plans for various operational areas, including procurement, inventory, investments, HR, and payroll.
▪ Process Understanding: Documented department procedures and processes using flowcharts and instructions.
▪ Risk Assessment: Conducted risk assessments to identify potential risks and key control activities.
▪ Audit Program Development: Prepared internal audit programs to assess the effectiveness of internal controls.
▪ Audit Observations: Reviewed internal audit observations with department managers to resolve issues, discuss recommendations, and follow up on implementation.
▪ Risk Management: Managed projects to identify operational risks and provide recommendations for mitigation.
▪ Internal Control Evaluation: Evaluated and validated internal control systems to determine their efficiency and effectiveness.
▪ Recommendations: Developed recommendations for areas of improvement, documented findings in reports, and followed up on implementation.

Key Achievement: Consultant In-Charge

• Infrastructure Development: Led the development of the internal audit department infrastructure for KFUPM and the Higher Commission for the Development of Al Riyadh. This project includes drafting the IA Charters and manual, Code of Ethics, Job Descriptions, IA reporting line, risk assessment template, testing templates, and providing on-the-job training for the audit department team.

• Understanding the Client and nature of business.
• Prepared Tax and Zakat return file for various clients.
• Agreed Upon Procedures Audit as requested by the Tax Director.

Emirates Advanced Investment is a mother company for 15 different subsidiaries, these subsidiaries are mainly works as services companies for governmental sector ex. (Education, travel agency, medication, technology construction, security, Recruiting and HR...etc...)

My Rules and Responsibilities:

• Participated in preparing a risk-assessment of the companys business operations, as a basis for preparing the IA Strategy and prioritizing audit engagements for the audit year.
• Planed the audit engagements with defined scope, objectives and timelines.
• Performed audits as per the IA department guidelines, in addition to supervised and reviewed the work of audit staff assigned to the audit engagement, and ensure that deliverables are completed on time and within the budget assigned by the CAE.
• Identified, analyzed and evaluated potential issues, facilitated the resolution of such issues by developing recommendations to enhance internal control processes and information systems.
• Evaluate and validate internal control system to determine their efficiency and effectiveness.
• Reviewing the monthly payroll compliance process.
• Develop recommendations for areas of improvement, write reports documenting findings, and follow up on recommendations for implementations.

• Participate in developing proposals for internal audit services.
• Engaged effectively with the audit team assigned to different audit clients.
• Conducted client business process understanding and matched these with PwC global best practices to identify potential risk exposures and validate related internal controls to address these risks.
• Conducted audits in accordance with PwC approach and clients scope of work.
• Drafted observations for quality review and prepared audit reports for Manager and Partner review.
• Carried out Exit meeting to obtain management responses and complete the engagement.
• Participate in Risk Assessment Projects for different client in various industries.
• Participated in Fraud and Forensic investigations.
• Carried out FCPA (Foreign corruption practice act) investigation and testing.
• TeamMate+ Team Champion in which I provided customized training course on PwC Internal Audit Software (TeamMate) for clients such as Mobily, Bank Al Bilad and Saudi General Auditing Bureau.