Chief Financial Officer
Sardar Automobile Trading LLC
Total years of experience :18 years, 11 Months
Direct Reporting to: Director, Board Member and Group CFO.
Achievements
* Set up new accounting team including various nationalities for finance department.
* Successfully conducted the quantitative stock audit in order to find the missing inventory.
* Advise and implement for account opening with treasury of renowned bank in order to get special foreign
currency rate, cost reduction on forex buying, hedging of foreign currency and prompt payment to foreign
suppliers.
* Successfully arranged financing from a local bank for the director of the company.
* Achievement of 35% reduction in insurance cost of the company by introduction comparative quotation
system from suppliers.
* Successfully negotiated with bank for reduction in commission charges on documentary credit up to
33%.
* Implementation of VAT as per legislation in accounting system (AUTOLINE) and Payroll system.
JOB DESCRIPTION
Financial Reporting
* Overall supervision of Payroll, Accounts Receivable, Accounts Payable, Inventory and General
Accounting functions of the Finance Department.
* Prepared monthly, quarterly and annually MIS reports in dual currency (US $ & AED) along with ratio
analysis and submitted to group CFO for his review and consolidation of group companies.
* Monitoring the financial KPI’s on monthly basis in order to meet the budget and compliance with
financial institutions.
* Ensuring month-end closing process is completed within time frame as per company policies and
procedures including depreciation, amortization, accruals, prepaid expenses, bank reconciliation, and
stock reconciliation, cash counting, inventory counting, provisions for stock, debtors & exchange gain
& loss on foreign currency as per IAS21.
* Updating the IAS & IFRS knowledge specially focus on newly published IFRS 09, IFRS 15 & IFRS 16
in order to meet the reporting requirement.
* Review CAPEX and OPEX for proper accounting treatment in order to compliance IFRS, government
agencies and memorandum of Association of the Company
* Liaised with external auditors one of the Big 4 audit firm for execution of external audit.
* Performed due diligence in order to acquire new entity.
* Developed internal controls in the field of sales, purchase, cash & inventory.
Banking & Treasury Function;
* Monitor the cash flow and bank positions on daily basis to ensure adequate liquidity is available to meet
ongoing operational and capital investment requirements.
* To ensure fund based and non-fund based banking faculties are optimally utilized, by minimizing cost
of funding.
* Handling all types of Letter of credit for export, stand by letter of Credit (SBLC) for local purchasing
* Bank Guarantee, Invoice Financing from various local and international Financial Institutions.
* Manage the Company's banking relationships and ensure that all requirements are updated in regards to
the facilities including annual review of the credit limits.
* Maintain and oversee adequate debt equity ratio in order to smooth running of banking facilities.
* Ensure finance cost is correctly recorded and reconciled with the bank on monthly basis.
Business Support
* Responsible for the recruitment, supervision, training, and evaluation of the staff.
* Oversee the logistic department and its operations including Dubai Trade and customs department
queries.
* Handling the insurance requirement of the company.
* Follow-up with lawyer for legal cases of the director.
Budgeting and Forecasting
* Manage the preparation of the company's annual business plan.
* Report to group CFO on variances from the established budget, and the reasons for those variances.
Value Added Tax (VAT)
* Registered the group of companies with Federal Tax Authority in order to get Tax Registration umber
(TRN).
* Providing the VAT Group tax strategy to the management and Implement the same for group of
companies.
* Preparation and quarterly online filling VAT returns of group of companies with Federal Tax Authority.
* Review daily expenses and guide the
Set up computerized accounting system and accounting function for the company.
* Successfully negotiated with bank for the settlement of long term loan.
* Conduct audit of partnership firm for construction of shopping mall and successfully resolved the
conflict.
JOB DESCRIPTION
* Day to day Accounting including petty cash transactions and ensure proper posting of vouchers in
accounting software.
* Providing consultation to management on controlling cost and maximization of revenues
* Ensure adequate liquidity for working capital needs producing daily fund position.
* Generate the consolidated financial statements of the head office and branches.
* Responsible for overall finance and accounting functions of the Company.
* Liaise with banks for operations, leasing of vehicles and for project financing.
* Interact with branches and site offices to proper recording of transactions and ensure budgetary controls.
* Monitoring payroll for fixed and marketing staff.
* Prepare monthly variance analysis of Income with budgets.
* Review bank reconciliation for head office, branches and directors.
* Perform periodic reconciliation of debtors and creditors.
* Management
Conduct internal audit to find frauds and implemented corrected measures in areas of cash.
* Develop human resource manual and implementation of the payroll policies.
JOB DESCRIPTION
* Forecast daily cash requirements and forward to head of department for action.
* Manage the day to day financial affairs of the factory.
* Review daily actual production reports and compared with standard production.
* Interact with internal and external auditors in completing audits.
* Assist the Head of the Department in ad hoc reports and requests.
* Review monthly payroll of production and admin staff.
* Responsible for final settling of statements of accounts of employees regarding gratuity earned leaves
and bonus.
* Ensure proper controls and safeguards are in place to protect the factory assets.
* Perform daily reconciliation of stock.
* Daily review of cotton & waste receive report.
* Review monthly payroll for production and non-production staff and overtime report.
Complete conversion of manual accounting system to computerized accounting system including but not
limited preparation of chart of accounts.
JOB DESCRIPTION
* Compile and analyze financial information to prepare financial statements including monthly and annual
accounts.
* Liaison with business related organizations such as Banks, Security and Exchange Commission of
Pakistan, Federal Board of Revenue & Customs Authorities.
* Support Import and Export documentation department.
* Ensure accurate and timely monthly, quarterly and year end close.
* Compile and analyze financial information to prepare entries to accounts, such as general ledger
accounts, and document business transactions.
* Recommend, develop and maintain financial data bases, computer software systems and manual filing
systems.
* Checked daily Bank Payment, Bank Receipt, Cash Payment, Cash Receipt and Journal Vouchers.
* Filling of income tax returns of company and CEO.
* Prepare and e- filling of Monthly Statement U/S 149 & 165 of withholding tax deduction of Employees
and Suppliers and
* E-filling of monthly sales tax return.
obtained specialized skills in external,
internal auditing, taxation, consulting and monitoring compliance with statutory requirements and compliance to
Grant Thornton INTERNATIONAL AUDIT procedures. Well versed and experienced in planning, conducting,
supervising, reviewing and finalizing external & internal audit assignments. Major responsibilities were:
* Application of Grant Thornton International Global Audit Methodology - Horizon, in a fully
computerized environment using GT Explorer and Audit CARE.
* Ensure financial records are maintained in compliance with accepted policies and procedures
* Perform analysis of financial statements including ratio, horizontal and vertical.
* Substantiates financial transactions by auditing documents.
* Initial planning of the audit in consultation with the engagement manager and partner;
* Critical review of the clients’ system of internal controls and highlighting the deficiencies using Audit
CARE tools;
* Review the work done by the team members and getting it reviewed by the engagement manager and
partner
* Prepare other deliverables, such as, management letter identifying control weaknesses, its
implications and recommendations
* Preparation, examination, analysis and review of financial statements including cash flows and
consolidated financial statements as per applicable IFRS & ISA's.
* Analysis of monthly financial statements, projected cash flows and working capital requirement for
companies.
Performed detailed evaluations of manual and computerized (ERP) ACCOUNTING SYSTEMS
including evaluations of Entity level controls, IT controls and operational controls;
Responsible for a number of audits on the basis of regular control of these audits.
* Client portfolio includes manufacturing, construction and developer, general trading, Service sector,
Government sector, Non-government Organizations & Brokerage services.