Internal Audit Manager
Al Yousuf Group
Total years of experience :10 years, 7 Months
Working as an Internal Audit Manager with Al Yousuf Group and responsible for leading the internal audit department and auditing the entities three entities that includes Al Yousuf Electronics, Al Yousuf Engineering and Al Yousuf Green Tech (AYGT).
• Based on a tip-off from a whistle-blower against the GM of one entity against whom there were allegations made of malpractice, wrong doings, conflict of interests and harm to the business by assisting competitors. Based on site visits, email searches and interviews taken of the staff, investigated and identified that the GM had promoted and won projects for the competitor company of AED 3.2Million.
• Based on allegations made against an employee for advances taken, a special review was performed to investigate that if there is any evidence against the employee for the allegations made and to recover the unsettled balances from the employee. Identified that the employee had done cash embezzlement, manipulation of invoices and misappropriation of assets. A total of AED 240K was recovered from the employee.
• Performed risk assessment on department level based on which the risk based internal audit plan was proposed to the Senior Management following the bottom up approach. As part of the risk assessment risk and control ratings were taken from the process owners and workshop was conducted to give an understanding to the process owners on risk and control ratings criteria.
Worked as a Senior Internal Auditor with Ghobash Group and responsible for the execution of the internal audit plan in accordance with applicable standards and to influence the management to review that an appropriate balance exists between risk and associated control costs for group companies across UAE.
• Preparation and presentation to the Audit Committee of the deficiencies in demand planning and procurement across the companies audited, concentration of outstanding balances receivable, variances observed during stock count, inadequate feasibility studies performed and consumption and usage of expired items and NRV testing on inventory items that had appreciated inventory value. Further presented the overview of audits performed in the quarter, internal audit plans for next quarter and status of the ongoing audits and follow-ups performed for audit recommendations being implemented.
• Process Improvements for inadequate sourcing and interviews of candidates as part of the recruitment cycle, hiring of candidates through employee referrals and recruitment of ex-employees. As part of HR audit recommended changes in policy and processes due to lack of consistent gross salary components and grading structures across the group.
• Based on a lead by a whistle-blower, identified the issues in the process of printers being returned from clients to the warehouse. All printers were cannibalized with their parts being removed and sold. The process for return of printers was enhanced and further proved that a warehouse employee was involved in this practice.
• Key entities/processes audited include Risk Assessment- Entity wide level controls, Group HR Review, Group Recruitment and Selection Review, Modern Laundry Factory Operations Review, Spectrum Industries Review (Manufacturing Unit), Makeen Properties - Leasing and FM Review, Tawazon Review (Trading Entity) and Outlet Review for Modern Laundry and Russo’s New York Pizzeria.
Working as a Consultant with KPMG Lower Gulf and responsible for the delivery of Internal Audit and Risk Consulting Services to clients in the UAE and Oman.
Key Functions Performed
1. Internal Audit and Risk Assessment:
- Conducting Risk Assessments and development of 2-3 years Risk Based Internal Audit Plan (RBIA) based on risk assessment results for clients management; -
- Planning and Execution of the Internal Audit engagements from beginning to end in accordance with IIA guidelines, ADAA Methodology and KPMG Internal Audit and Risk Management Methodology;
- Execution of engagements through a holistic approach to assess managements effectiveness in managing the risk of not performing, by focusing on review of operations and performance in addition of finance and compliance;
- Preparation of proposals from start to end based upon the needs and requirements of the clients as stated in the request for proposal (RFP);
- Preparation of quarterly status presentation to Audit Committee at clients that included overview of audits performed in the quarter, internal audit plans for next quarter and status of completion based upon the annual internal audit plan;
- Account Management through individually managing of clients that includes planning of audits, resource allocation, invoices preparation and submission, billing and recovery of fees.
- Have conducted several internal audit reviews at various Abu Dhabi and Dubai Government and Private Sector entities. Some of the processes reviewed in my engagements in various industries include: Key Processes and Departments Reviewed 1. Space Visibility and Management
2.Hypermarket Promotions
3.Payroll and Benefits
4.Trade Receivables and Treasury
5.Risk Assessment- Department based Risk Registers 6. Properties Management, Planning and Engineering
7. Information Technology (Project, Operations and Vendor Management)
8. Branch Operations
9. Warehouse Operations
10. Logistics Operations Payroll Management
11. Contract Planning and Cost Management
12. Real Estate and Projects Audit
13. Corporate Governance
14. Fixed Assets Physical Verification, Reconciliation and Tagging
15. Gap Analysis, Documentation Review & Process Architecture and Organizational Manuals
The portfolio of corporate clients that has enabled me to understand and evaluate organizational structures, business processes, regulatory requirements and accounting and internal control systems include: Industry Clients provided services to with KPMG and Protiviti
Oil and Gas:
- Abu Dhabi Oil Refining Company (TAKREER)
- Abu Dhabi Marine Operating Company (ADMA-OPCO)
- Abu Dhabi Petroleum Ports Operating Company (IRSHAD)
- Abu Dhabi National Tanker Company (ADNATCO)
- National Gas Shipping Gas Ltd. (NGSCO)
- Zakum Development Company (ZADCO)
- National Drilling Company (NDC)
- Abu Dhabi Company for Onshore Oil Operations (ADCO)
- Al Dhafra Petroleum Construction
- National Petroleum Construction Company (NPCC) Manufacturing:
- Agthia
Education:
-GEMS Education
Government:
- Abu Dhabi Education Council (ADEC)
- Environmental Agency, Abu Dhabi (EAD)
- Department of Transport (DOT)
- ZonesCorp
Investment and Real Estate:
- International Petroleum Investment Company (IPIC) - Al Hail Holding
- Al Towaissa Investments
Donor Organization:
- GRM International
Retail:
- Union Coop (UCS)
- Abu Dhabi Co-operative Society (ADCOOP)
Exchange House:
- Index Exchange (Formerly known as Habib Exchange Company)
Shopping Mall:
- Al Barsha Mall
- Etihad Mall
Worked as an Analyst with Protiviti (Middle East) and was responsible for the delivery of Internal Audit and Risk Advisory Services to clients in the UAE and GCC.
Key Functions Performed
1. Internal Audit and Risk Assessment:
Planning and Execution of the Internal Audit engagements from beginning to end in accordance with IIA guidelines and Protiviti Internal Audit Methodology;
Review of internal control system and identification of significant weaknesses and recommending improvements therein;
Preparation of process documentations, risk and control evaluation, audit programs, test plans and working papers in accordance with the requirements of Protiviti IA Methodology:
Reporting of the significant issues to the management and developing good working relationships with the client to deliver engagement engagements; and
Preparation of management report(s) identifying control weaknesses, its implications, recommendations and seeking management comments for effective and efficient achievement of organizational goals and objectives. Experienced in operating E-Governance Portal, able to handle cases arise during the engagement.
Have conducted several internal audit assignments using the Portal at various Abu Dhabi Government entities. Some of the processes audited in my engagements in various industries include:
Key Processes Audited:
HR and Administration
Finance and Accounting Payroll Management Treasury
Risk Assessment- Entity wide level controls
Facilities Management
2. Forensic Investigations:
I have investigation experience gained from being a part of investigations, and have facilitated in investigations where there were allegations such as Corruption, Fraud, Bribery & Extortion, Theft etc. I have worked in investigations in Abu Dhabi.
I have assisted in a high profile investigation relating to Corruption / Fraud which was conducted across three countries UAE, Afghanistan and Australia. In which analyzed documents seized during the investigation and identified discrepancies.
3. Fraud Scenario Assessments (FSA) / Fraud Risk Assessments (FRA):
I have assisted in a FSA Assignment of a high profile client in Abu Dhabi, in which created survey results report conducted at clients place and its associated companies on Fraud and Misconduct. Have also assisted in implementation and creation of Fraud Control Policy and Whistleblowing Policy Handbook for client.
4. Human Capital Consulting:
Consulting experience gained from being a part of our human capital assignments. I have assisted in implementation and creation of HR Policies and Procedures Manual for client.
Was also involved in developing Positional Organization Structure & Job Descriptions to match structural requirements and functional roles and responsibilities of the client.
Evolution Factor (Private) Limited, Karachi
ACCA trainee July-August 2012
Key Functions Performed
1. Taxation
• Prepared Income Tax Return and Wealth Statements of Clients.
• Prepared Tax Payment Challans.
• Prepared Sales Tax Payment Challans.
• Filling of Statements for Clients.
• Research regarding Sales Tax Acts.
• Prepared replies to FBR Notices and Refund Application for Clients.
2. Accounting Services
• Worked as part of team on an accounting assignment for preparation of three year accounts of a private limited company through using evidence material.
3. Share Registrar and Transfer Agency
• Packaging of Dividends and Share Warrants for a public limited company
4. Corporate Regulatory Advisory
• Name reservation for private company through SECP
5. Marketing Research
• Research done on Pakistan's successful Entrepreneurs for a brand promotion
Corporate Support Services (Private) Limited
Internee February-March 2012
Key Functions Performed
1. Taxation
• Making of Income Tax Return and Wealth Statements of Clients.
• Making of Income Tax Payment Challan.
• Making of Sales Tax Payment Challan.
• Filling of Nil Statements for Clients.
• Did research regarding Withholding Tax Agents in Pakistan and Sales Tax Special Procedures.
• Making of Reply to FBR Notices, Refund Application for Clients and Invoices to Clients.
2. Management Consultancy Services
• Preparation of Meeting Notes between clients and company directors.
• Research for Directors before meetings with Client.
3. Share Registrar and Transfer Agency performed the following functions
• Attended AGM of Pakistan Gum & Chemicals Limited.
• Packaging of Dividends and Share Warrants for Mehran Sugar Mills and Pakistan Gum & Chemicals Limited.
CO-CURRICULAR
* Participated in numerous sports competitions
* Active Player of College level Football
* Social Work ( Active member of I Own Karachi NGO)
Association of Chartered Certified Accountants (ACCA) Optional Papers: 1. Advance Auditing and Assurance (P7) 2. Advance Taxation (P6) Cleared ACCA paper P3 (Business Analysis) Cleared ACCA paper P2 (Corporate Reporting) Cleared ACCA paper P1 (Governance, Risk & Ethics) Cleared ACCA Skills module Cleared ACCA Knowledge module
BSc (Hons) In Applied Accounting from Oxford Brookes University. Started the programme on 1st June 2010 and finished on 22nd September 2014.
The City School, P.A.F Chapter, Karachi 2009 GCE Advanced Level Economics, Mathematics, Accounting
The City School, Darakshan Campus, Karachi 2007 GCE Ordinary Level Core subjects: Mathematics, Additional Mathematics, Accounting, Physics Chemistry, English Language, Statistics