VP Chief Audit Executive
Saudi Airlines Catering Company
Total years of experience :24 years, 5 Months
Heading the Internal Audit function and responsible of hiring, firing and all admin issues within the Internal Audit function in addition of performing all operational and financial audit assignments.
Reporting functionally to the Audit committee and administratively to the CEO.
Key Audit Assignments:
• North South Railway Project CTW100
• Jamarat Bridge “Mina” Project (4.4 Billion SAR)
• Concrete Precast Product factory “RABIGH” KSA
Key Responsibilities:
• Establishing audit plans, objectives and scope of work in alignment with organizational goals; undertaking responsibility for the overall execution of projects through team management and final report delivery.
• Developing and maintaining a charter for the Internal Audit function which reflects audit results and variations so as to make appropriate recommendations to improve operations/ reduce costs.
• Assessing adequacy of risk management and control activity. Monitoring operational performance and follow-up Systems support.
• Ensuring that efficient / effective measures are implemented to safeguard acquisitions from losses arising from waste, extravagance, inefficient administration, and poor value for money, fraud or other causes.
• Appraising the integrity of processes/ systems to ensure that controls are adequate and effective in design and in operation, assuring department objectives and activity are in alignment with the company's strategic vision.
• Establishing the direction and objective of proposed audit works, and determine the audit procedure/ technique.
• Evaluating system effectiveness and performing professional audits in accordance with the approved audit program.
• Reviewing relevant finance proposals to ensure conformity with plans, guidelines and pertinent economic criteria providing senior Management with recommendations/guidelines on amendments and approvals.
• Overseeing the development of over/under expenditure reports, appropriate budgetary revisions and processes for necessary approvals.
Highlights:
• Handling audit of all Cement Production plants, paper bags factories & ready mix plants of OCI in; Egypt, Algeria, Pakistan, Emirates, Turkey, Kurdistan, Sudan and Saudi Arabia.
• Assumed responsibility of substituting the currently used methodology with Risk Based Audit Methodology.
Key Audit Assignments:
• CONTRACK Co. (A USA based Company) projects in Egypt and the Middle East - C130 Aircraft Maintenance hangar contracted to US Army Corp of Engineers.
• Algeria Cement Company "ACC”:
• Dubai Office Treasury Management Audit.
• Pakistan Cement Company "PCC"
• Egyptian Cement Company "ECC"
• Holcim Cement -Switzerland, Evaluation of Internal Control System "ICS"
• Designing the Delegation of Authorities "DOA" for Orascom CI cement group for all companies operating within OrascomCI Network.
• Orascom -Building Material Holding "OBMH", Ready-Mix Egypt -a subsidiary of Orascom
• OCI Çimento A.S
Key Responsibilities:
• Coordinated the overall auditing operations and provided support to the various groups in achieving short/ long term strategic objectives.
• Used key system audit tools to maintain close tabs on account payables/ receivables, due diligence for financial accounting and year end closing.
• Aided in creating comprehensive guidelines for internal audits to ensure minimal nonconformity reports from external auditors.
• Prepared /audited all financial statements including: monthly - financial statements, closing of accounts, accounts receivable/ accounts payable and cash flow statements.
• Audited overheads effected, reduction in cost and inventory to reduce standing overheads and augment profit margins.
• Analyzed general ledger accounts to determine their accuracy and ensure all funds are managed appropriately.
• Reviewed monthly financial results and created evaluation and revaluation reports to ensure bottom up adherence.
Designation chronology:
• Jan 2006 - Mar 2007: Internal Audit Manager of Algeria & Morocco.
• July 2003 - Dec 2005: Internal Audit Supervisor.
Key Audits & Assignments:
• Treasury Mgmt
• Annaba Branch Parts
• Algeria Vehicles Stockyards
•Facilitating Control Self Assessment “CSA” -New Vehicles Delivery
• New Vehicles Operational Audit.
• Workshop Vehicles Delivery.
• Business Devpt. Department.
• DRIVE Communication
• Retail (Vehicles - Toyota & Lexus & Toshiba)
• Workshops (Toyota - Lexus)
• Audit assignments on Musharaka & Mudaraba (Two types of Islamic Finance held with various banks in KSA)
• Audit Assignments in UOAC - Advertising Company
• Toyota & Daihatsu Dealership- Syria & Daihatsu Dealership- Sudan
• Abdel Latif Jameel Retail Co
• Abdel Latif Jameel Import & Distribution
• Abdel Latif Jamel Company ltd
• United Installment
• Jameel Int'l Company El Saady( HO, Algeria, Morocco & Syria)
Highlight:
• Piloted /established the Internal Audit Function for North Africa region encompassing- Algeria & Morocco.
• Reviewed the Business Continuity Plan “BCP” for a number of the group companies (in KSA & Overseas).
Key Responsibilities:
• Used key system audit tools to maintain internal control of various companies/ operations for financial accounting.
• Devised audit plans, defined scope of work in compliance with organizational goals, SBU and directed execution of audits through team management.
• Recruited/ trained new audit staff and conceptualized/ implemented an internal audit methodology for operational / financial audits related to the automotive & media business.
• Planned/ executed standard audits, reported audit findings, recommended corrective measures to improve operation and reduce costs.
• Evaluated system effectiveness with the approved audit program for fraud investigations, concerning fraud perpetrated in the group.
Designation Chronology:
• Sept 2002- Jul 2003: Group Credit Manager.
• Aug 2000- Sept 2002: Group Chief Accountant.
• Nov 1999- Aug 2000: Chief Accountant.
Highlights:
• Initiated a credit department for the organization and handled a gamut of Risk/ Credit & Accounting activities in Egypt for Rhodia Egypt Chemicals (S.A.E.), Rhodia Trading Free Zone, Rhodia Egypt Distribution and Egyptian Company for Marketing.
• Assumed responsibility for installing new software package (ACCPAC) in Egypt in coordination with Rhodia Dubai and Mostafa Shawki & co.
Responsibilities as Group Credit Manager:
• Formulated Credit policies/ procedures, evaluated permissible credit for clients and sanctioned the same, post examination of all related documentation, agreements of respective client.
• Analyzed credit policy feasibility in view of revenue generated and profits. Initiated recovery processes, Incremented, decremented or terminated credit limits in view of credit history.
Responsibilities as Group Chief Accountant:
• Managed an array of functions of all entities of the company encompassing import/ export L/C’s, banking relationships, accounting including preparation of balance sheet/ income statements and all taxation issues of Egyptian entities.
Responsibilities as Chief Accountant:
• Managed and updated all books of accounts right from ledger/journal entry to finalization of accounts and prepared financial statements viz P&L account and balance sheet.
Other Professional Experiences:
• May 1993- Oct 2000: Mostafa Shawki & Co. -Deloitte & Touche, Alexandria, Senior Auditor.
• Oct 1992- Apr 1993: Saudi Cover Factory-JeddahAccountant.
•Mar 1992- Sept 1992: Xerox Egypt, Sales Representative.
•Jun 1991- Feb 1992: International Business Associate (IBA), Sales Representative.
Certified Information System Auditor CISA
Other Trainings & Certifications: • Member of the Institute for Internal Controls (IIC). • Professional Examinations for Egyptian society of Accountants and Auditors. • CSA -Control self assessment, IIA Institute of Internal Auditors, Beurit- Apr 2006. • Risk Based Audit "IIR" Dubai. - CRMA Certification. Vision University - Executive Course- 'The new Chief Audit Executive' - The IIA Dallas USA.
