Shameel Wohadally, Group Head of Internal Audit

Shameel Wohadally

Group Head of Internal Audit

Plenum Management Consultants LLC

Location
United Arab Emirates - Abu Dhabi
Education
Master's degree, Accounting, Finance, Auditing, Management
Experience
24 years, 9 Months

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Work Experience

Total years of experience :24 years, 9 Months

Group Head of Internal Audit at Plenum Management Consultants LLC
  • United Arab Emirates - Abu Dhabi
  • My current job since November 2021

(Group of companies operating in various fields namely power/energy distribution, smart management solutions, infrastructure construction (EPC), motors & generators maintenance, management consulting, commercial services, food & beverage and real estate).

 Reporting to the Chairman, the role involves setting up and continuously enhancing the internal audit function and delivering value added internal audit services across the group of companies.

Internal Audit Manager at National Petroleum Construction Company (NPCC)
  • United Arab Emirates - Abu Dhabi
  • January 2018 to November 2021

The main job responsibilities are:
• Responsible for the timely and efficient delivery of a portfolio of risk-based audits across NPCC’s business and support units;
• Lead multiple engagements including assurance and consulting;
• Assist in preparing and achieving the annual audit plan;
• Ensure smooth closure of engagements with acceptance of audit findings by auditees;
• Actively involved in staff selection and recruitment process; and
• Responsible for coaching and development of subordinates to facilitate growth within the company.

Achievements:

 Lead the effort to turn around the department from a primarily outsource driven function to fully in-house, resulting in faster issuance of audit reports and smooth closure of engagements with acceptance of audit findings.

 Identified and highlighted the following to Management as part of audits carried out:

Cost Savings:

- Excessive overtime payment amounting to AED 59 million
- Savings on staff recruitment costs amounting to AED 16 million
- Savings on staff transportation amounting to AED 16.5 million
- Potential penalties for delaying payments of AED 8 million

Process Improvements:

- Slow moving work in progress balances of AED 207 million
- Delays in project billings and collection
- Improvements for processing vendors’ invoices and duplicate payments to suppliers
- Shortcomings in HSE set up

Compliance Manager at Elite Agro LLC
  • United Arab Emirates - Abu Dhabi
  • December 2016 to December 2017

Elite Agro LLC, a fully owned subsidiary of Emirates Advanced Investments Group LLC, is engaged in growing, sourcing, importing and marketing a wide range of high quality agricultural products with operations in UAE, Serbia, Morocco and Mauritania. The main responsibilities are as follows:
• Point of Reference for all matters related to governance, policies and procedures, delegation of authority, internal controls and business processes;
• Conduct audit and compliance reviews for the food and agriculture cluster to ensure that internal control framework, management process and corporate governance are adequate and efficient;
• Carry out consulting services, on a needs basis, to facilitate the improvement and enhancement of the cluster’s internal controls, risk management and corporate governance framework; and
• Member of the Cluster Executive Committee - responsible to support the Cluster Managing Director in overseeing the business and affairs of the cluster.

Internal Audit Manager (Apr 2011 till Nov 2016) and Senior Internal Auditor (Dec 2008 to Mar 2011) at Emirates Advanced Investments Group (EAIG)
  • United Arab Emirates - Abu Dhabi
  • December 2008 to November 2016

EAIG is a business development and investment holding company, having subsidiaries operating in multi-disciplinary fields, such as aerospace, communication system, defense & security, healthcare, construction management, naval solutions, information and communication technology, leadership development training, business consultancy & training, food & agriculture, firefighting and travel. The main responsibilities as Audit Manager are as follows:
• Assist in developing and implementing the internal audit plan and managing the relationship with the respective subsidiaries;
• Supervise the audit team in conducting audit reviews and risk assessments for the group to provide assurance that internal control framework, management process and corporate governance are adequate and efficient;
• Report audit findings and risk areas to Management and recommend practical solutions, performance measures and business controls;
• Provide consulting services, on a needs basis, to facilitate the improvement and enhancement of the group’s internal controls, risk management and corporate governance framework; and
• Contribute in the internal audit staff management, development, training and recruitment.

Internal Auditor at National Petroleum Construction Company
  • United Arab Emirates - Abu Dhabi
  • June 2006 to December 2008

NPCC is a major international contractor engaged mainly into providing the Offshore and Onshore Oil & Gas industry with complete Engineering, Procurement and Construction (EPC) services.

The main responsibilities as internal auditor are as follows:

• Plan and perform financial, operational and compliance audits in all areas of the company.
• Perform risk assessment, planning, audit scope development and execution of the audit plan.
• Ensure adequacy of internal policies and procedures and propose practical solutions, performance measures and business controls accordingly.
• Report the audit findings and the risk areas to Management together with the potential consequences and practical recommendations on how the internal controls can be enhanced and what controls need to be introduced.

Audit Senior at Ernst & Young
  • United Arab Emirates - Abu Dhabi
  • December 2003 to May 2006

In charge of a portfolio of audit clients operating in various fields, such as:

• Oil & gas
• Utilities
• Sovereign Wealth Fund
• Contracting
• Shipping services
• Travel agency
• Retail & trading

Working in collaboration with audit managers, the main responsibilities were as follows:
• Planning and execution of audit engagements;
• Review of audit working papers and financial statements;
• Liaising with audit managers and partners for clearance of audit files and issue of financial statements;
• Issue and follow up on management letters; and
• Any other assignments (regulatory audits, operational reports, etc.)

Auditor and Audit Senior at BDO (Previously known as De Chazal Du Mée - Affiliate of Ex-Arthur Andersen)
  • Mauritius
  • July 1999 to October 2003

1) Audit of financial statements, in accordance with International Financial Reporting Standards, of companies operating in the following fields:

• Manufacturing
• Agriculture
• Financial Services
• Aviation
• Retail and Trading

2) Other experience include:
• Business Process Reengineering
• Operational reviews
• Business Process Reviews
• Reporting to senior management of potential consequences on internal control weaknesses and practical recommendations on how the internal controls can be enhanced and what controls need to be introduced
• Preparation of consolidated financial statements
• Bookkeeping
• Internal audit

Education

Master's degree, Accounting, Finance, Auditing, Management
  • at ACCA - Equivalent to UK Master's Degree
  • June 2002
High school or equivalent, Higher School Certificate/General Certificate of Education
  • at University of Cambridge
  • November 1997

Accounting/Economics Side

High school or equivalent, School Certificate/General Certificate of Education
  • at University of Cambridge
  • November 1994

Accounting/Economics Side

Specialties & Skills

MS Office tools
Internal Audit
Internal Controls
Corporate Governance
MS Office

Languages

English
Expert
French
Expert
Urdu
Expert

Memberships

Association of Chartered Certified Accountants (ACCA)
  • Fellow Member
  • June 2002

Training and Certifications

UAE Chartered Accountant (UAECA) (Certificate)
Date Attended:
November 2016
Certified Internal Auditor (CIA) (Certificate)
Date Attended:
November 2007
Valid Until:
January 9999
Certification in Risk Management Assurance (CRMA) (Certificate)
Date Attended:
July 2013
Valid Until:
January 9999
Association of Chartered Certified Accountants (ACCA) (Certificate)
Date Attended:
June 2002
Valid Until:
January 9999

Hobbies

  • Football