Assistant Manager Finance - Plant/Assistant Manager Internal Audit
Alokozay Group of Companies/ Non Alcoholic Beverages Company
مجموع سنوات الخبرة :6 years, 7 أشهر
As Assistant Finance Manager-Plant:
Though joined Alokozay Group as Assistant Manager - Internal Audit, was assigned with additional responsibility as Assistant Finance Manager in Feb 2012 for the construction of ABCo’s (Alokozay Non Alcoholic Beverages Company) Pepsi Cola Plant where key responsibilities included:
•Overall management of plant in respect of finance.
•Manage outsourced functions for works in relation to the plant
•Maintain a documented system of accounting policies and procedures for the plant.
•Oversee the Billing Department, A/P and vendor relationships.
•In-charge of the operations of the plant accounting department, including the design of an organizational structure adequate for achieving the department's goals and objectives.
•Oversee the plant accounting operations especially their control systems, transaction-processing operations, and policies and procedures.
•Ensure that accounts payable are paid in a timely manner as per PO’s.
•Review monthly variance analysis in relation to the effective running of plant.
•Maintain an orderly accounting filing system and control over accounting transactions.
•Recommend benchmarks for plant operations against which to measure the performance of plant.
•Calculate variances from the budget and report significant issues to management
•Provide for a system of management cost reports
As Assistant Manager - Internal Audit:
Joined Alokozay Group as Assistant Manager - Internal Audit for the Group companies, where key responsibilities included:
•Plan and conduct individual risk-based audits of the Group with a view to identifying control weaknesses, material errors, non-adherence with policies and procedures, with adequate emphasis on overall impact to the business.
•Develop and implement detailed audit work for each scheduled audit using the most efficient and effective audit techniques & procedures applicable to specific risk categories, within the broad audit program framework specified by the Group Head Office Audit Manager so that the audit objectives are achieved and the risks identified are addressed.
•Review status and existence of internal controls in the audit areas by conducting pre-audit discussions with staff, using updated process with relevant data, prepared and placed in the IA permanent file and through compliance tests and transactions checks.
•Conduct analytical reviews of financial, commercial and operational data with a view to identifying material errors, possible revenue leakages, inconsistencies with procedures and policies, etc. Eventually, proposing improved data processes to speed up future reviews.
•Collect, compile and annotate relevant and competent audit evidence in support of audit findings, properly documented and indexed/cross-referenced working papers which support the audit field work, observations and conclusions.
•Perform reviews of contractual/reciprocal agreements in the assigned audits with a view to detecting financial loss, if any, caused by misapplication or misinterpretation of such agreements and recommend appropriate changes.
•Draft audit reports and obtain initial comments on audit findings from relevant regional in charge in order to establish the correctness of audit observations, providing an opinion on the status of risks and controls, and document the benefits to the Group of the audit findings and recommendations.
•Conduct follow-up audits with regional in charge to ensure that all accepted audit recommendations have been implemented within the agreed period.
•Developing and implementing “Continuous Monitoring” using existing Information Systems to obtain reports which enable speedier identification of potential manifestation of risk.
•Perform special investigations as required from time to time in order to establish facts, either to address a management’s concern or to comment on possible irregularities.
Key Responsibilities:
• Development of audit strategy and plan, which involves system review, risk analysis and development of audit tests aimed at reducing audit risks, execution and completion of various audit assignments.
• Reviewing financial statements for compliance with International Financial Reporting Standards, International Standards on Auditing and local statutory financial reporting requirements.
• Review of internal control procedures to ensure adherence to management policies and control procedures and to suggest improvements thereon.
• Review of corporate matters and ensuring compliance thereon in the light of Code of Corporate Governance.
• Review of audit/accounts files prior to Manager/Partner’s review.
• Final discussion with the client and the finalization of financial statements and audit report.
• Communicating with group auditors and delivering the reports as per their group audit instructions.
• Coordinated with the senior management of the client to plan, execute and review findings of the audit.
• Defining appropriate audit approach by identifying areas of risk within client’s businesses and applying judgment with professional scepticism and using effective risk appraisal of all work targeted and undertaken.
• Scheduled professional staff for various tasks required for execution of the assignment and reviewed and approved planned activities/audit programs involving substantial fieldwork.
• Briefing the partner on progress of the audit and on any problems identified and significant variation from the timetable, together with an assessment of their effect on efficiency of planned audit process and budget.
• Conducting overall analytical review and concluding significant variations of transactions within the financial statements ensuring that these are in the knowledge of management.
• Preparing Letter of Representation for significant management assumptions and bias within financial statements and any relevant board minutes.
• Preparing board letter identifying significant matters which require immediate board attention and any impact which they may have on the financial statements.
• Preparing and delivering Management Letter to the client by identifying areas requiring improvement in the client’s business processes and possible recommendations.
Key Responsibilities:
• Prepared audit plans for the timely conclusion of audit assignments.
• Planned, analyzed, documented and gathered evidence to manage audit work. Identified areas of audit risk by performing initial analytical procedures.
• Carried out control testing to address key audit risks.
• Completed substantive testing to achieve audit evidence in accordance with a set audit program modified after the results of compliance testing.
• Evaluated, documented and monitored client’s accounting systems and controls.
• Approached audit with skepticism, recognizing the possibility of material errors due to fraud/error.
• Documented the client’s system, control procedures and accounting processes.
• Completed compliance testing on the client’s internal control framework.
• Prepared, reported and discussed audit findings which arose during the audit with client.
• Preparing financial statements, on risk based approach, by adding value for the user of the financial statements at a high technical level incorporating all necessary disclosures required by the statute.
• Ensured the Financial statements have been prepared using acceptable accounting polices which have been consistently applied and are appropriate for that business.
• Reviewed accounting systems and using my professional judgment to suggest improvements.
• Exercised alertness and diligence in carrying out and completing audit tasks allotted to me.
• Supverising the team members during the course of audit and ensuring the training of team members.