Director- Internal Audit & Risk
Crowe, UAE
Total years of experience :34 years, 1 Months
Provide Risk consulting to the clients of Affility
Develop Streams of Audit functions on the basis of industry, Segment, or Domain of audit activity.
Development of Risk Registers for clients
Development of SOP's for Clients
Governance of Risk Consulting practise in Affility and oversight of client Internal Audit Operations.
1. Head of Audit : East Coast Group -Fujairah & Dubai: December 2015 till date.
Heading the function of Internal Audit across the multi industrial gamut of the group. Industries covered includes - Real Estate, Civil Construction, MEP Constructions. Aluminium and Glass Constructions, Logistics, Mineral Water Manufacturing and Bottling, Gaming Equipment’s Trading, Facility Management, PMVE, etc.
Key Achievements
a. Established a structured audit plan for the group across its various industries to enable the implementation of an Internal control infrastructure.
b. Established a successful Pre-Audit Division which currently reviews all Purchases, Payments, JV’s, Agreements, and Petty Cash fund utilisation across the group.
c. Developed the Policy and Procedures for all the Industries in the group enabling an effective and efficient process.
d. Implemented a Fraud detection Infrastructure through the following:
i. Whistle blower network amongst its construction activities
ii. Pre-Audit
iii. Internal Audit plan
iv. Fraud Hotline
v. Whistle blower protection plan
The above areas of implementation has enabled the detection of frauds of over 1 Million $ in the organisation. Further, the implementation of an effective Internal Audit Plan had helped to reduce cost of over 600, 000/- USD in addition to the establishment of a control infrastructure in the organisation.
e. Facilitated the RFP development of SAP ERP in the group with a panoramic review of the activities across the group.
Headed the Internal Audit Consulting function for the organisation which holds globally the ninth position as an International Audit firm. The various consulting and audit functions performed by my division are:
a. Internal Audit
b. Police and Procedure development
c. Concurrent Audit
d. Business Process Re-engineering
e. Fixed Assets Management
e. Business Process Re-engineering, and
f. Forensic Accounting
The various industries covered during my leadership of Internal Audit function through Crowe Horwath were
i. NMC Healthcare PLC - Healthcare (over 8 Hospitals)
ii. Provita - Healthcare
iii. Dr.Sunny’s Clinic - Healthcare
iv. NMC Trading - Trading of FMCG, Scientific Equipments, Pharmaceuticals, and Educational Products, Food products, etc of over 65, 000 /- products across the UAE.
v. Cosmesurge and Emirates Hospitals (15 Hospitals)
vi. ADNH COMPASS - largest contract catering and support services provider in the UAE
vii. Laboratory Technical Services
viii. Neopharma - Pharmaceutical Products Manufacturing
ix. Arabian Automobiles - Nissan & Infiniti brands in UAE
x. Dubai Technologies - IT Solution developers
xi. Perfume Engineering- M/s. Ajmal and M/s. Parfume Monde (A part of Confident Group-India)
xii. Life Insurance Corporation - UAE Operations
xiii. East Coast Group - Construction, Bulk Transportation, Real Estate, etc.
Setting up of Strategic Planning, Corporate Governance, Finance structure, Operational Infrastructure, Marketting, IT and Human Resource.
Developed Project of over 300 Crores for Tourism development and property development scheme.
Achievements
i. I have setup the Internal Audit department from point zero which comprises of the operations, financial, and pre-audit divisions within the Internal Audit department. The risk based audit approach has been the basis of setting up of the audit programs.
ii. The management, review, and guidance of a team of 5 audit members covering the whole gamut of audit operations of the Group has been organized and conducted by me and my team over the period of my tenor so far.
iii. Lead assignments of forensic accounting which cleared major legal and financial tangles for the organization.
iv. Provided a focused strategy for a financial restructuring for the Group which is now driven successfully in the organization.
v. Developed Policies and procedures for critical areas of the organization which has resolved the complexities of the activity and enabled a smooth working in those areas.
Over the years I was responsible for the development and strengthening the profession and scope of internal audit in the Arenco Group. The gamut of responsibilities fell into conducting of Internal audits, Operational audits (following IIA standards & COSO), IT audits (COBIT based), and Confidential Fraud Investigations for the group. I lead a team of internal audit professionals with responsibilities falling as below:
• Development of Internal audit programs for the internal, operational and IT audit of various companies of the group.
• Conducts effective business process surveys
• Risk assessment to identify areas of control lapses or excesses.
• Evaluation of IT General Controls (IS Strategy & Planning) covering areas like ID Management, access controls, program change management, and system controls.
• Planning and budgeting of yearly audit for the Group Internal audit Department.
• Communication with the senior management personnel on the matters of audit and governance requirements of the respective companies.
• Conducts control self assessment workshops with the Managers and the departmental supervisors to ensure proper and easy identification of practical changes to be made on critical areas lacking control and effectively managing and providing suggestions for managing change in the organization.
• Provides effective consultation to Management personnel of various companies of the group.
Other assignments / achievements:
• Instrumental in developing CAATS as an audit tool in the risk assessment process for the Arenco group Internal Audit Department.
• Independently initiated the implementation of “Control Risk Self Assessment (CRSA)” and conducted various facilitative workshops with the Senior and departmental managers of the various companies in the group.
• Assisted in implementation of Quality Assurance Program for Audit department.
• Plan and perform special investigative assignments,
I was heading the Internal Audit services of the firm with clients involved in construction, educational, healthcare, distribution, transport services, lottery, trading, etc..
Other assignments / achievements:
- Instrumental in developing accounting software for various clients requiring computerization of accounting function.
- Involved in the implementation of Internal Audit division in the organization and development of clientele for the professional service.
Member of Institute of Internal Auditors Attended the Annual conference of Institute of Internal Auditors