head of internal audit
Al Emadi Enterprises
Total years of experience :24 years, 9 Months
Head of internal audit
Head Of Internal Audit
1) BATCO GROUP (Engineering, Construction) & LAVAJET GROUP (Solid Waste Management):
March 2014 - TILL DATE
Designation: Area Internal Audit Manager - UAE Reporting: Audit Committee
I am currently working in a group of companies:
BATCO is a general engineering and contracting company that has grown from a civil and earthwork contractor to a leading main contractor with multi-disciplinary construction projects in a broad range of sectors. BATCO’s services include design & construction of roads and highways, infrastructure, bridges, tunnels, water dams, marine works and solid waste sanitary landfills. BATCO additionally offer operation and maintenance of roads & highways, infrastructure and industrial plants.
http://www.batco-group.com
LAVAJET was founded in Italy in 1990, is an international provider of environmental waste management services and a recognized leader in its domain with a proven record for achieving the highest standards of excellence. We deliver innovative and environmentally responsible solutions to governments, industries, and businesses. The Company offers comprehensive and integrated solid waste management services and employs more than 3, 000 staff including: Engineers, Administrators, Technicians and a highly trained labour force. We service over 2 million residents worldwide.
http://www.lavajet-group.com
Summary of major responsibilities:
• Established group wide internal audit plan & functions.
• Conduct internal audits / fraud audits along with team members on various assignments as per Annual Audit Plan.
• Review and ensure compliance with the company & country applicable laws and bylaws.
• Review, discuss, provide guidance, and add value to the work carried out by the audit team members
• Conduct & manage internal audits of all group companies and ad hoc investigations to identify audit issues. Prepare and present audit reports to higher management, highlighting key issues and risks and recommend corrective steps to resolve them.
• Review & enhance policies, procedures, processes in order to strengthen internal controls, streamline procedures & reduce inefficiencies.
• Participates in the development of new systems to ensure that adequate access and system controls are established.
• Examine and evaluate the organization accounting system.
• Accounting and Finance Examination for example and note limited: Verify the chart of accounts, insure that accounting circle is completed, scan the petty cash procedure and check some of the transaction, insure the maintaining of a cost centre for each project and cost history for each asset, check the related policy and procedure to save and maintain the company assets,
Achievements:
o Assets management overall the group based on survey, gathering, investigations, and analysis via creating the necessary procedures and forms to manage/save the different types of assets such as but not limited to: Material, tools, kitchen items, IT related, parts, consumables, stationary, diesel, petrol, lubricants, furniture, safety items, documents & information, cash, cheques, mobile phones, equipment, machinery, light vehicles, keys & passwords.
o Over Time Control: we use different types of internal audit tools to establish the necessary OT authorization table for more control and smooth project work.
o LPOs Authorization Table: We lead a special committee to establish the necessary LPOs authorization table.
o Create a new team and run a new department in a limited time.
o Successfully completed 3 fraud investigations.
o Communication cost saving by studying the real needs and search for the best service provider with the best price.
o Focusing on the serious financial impact Issues.
o Suggested key process improvements across various departments.
2) AL WASIT GROUP (AL WASIT MACHINERY & AL WASIT ROAD CONTRACTING)
Feb. 2012 - March 2014
Designation: Audit Manager
Established in 1985 in the UAE, is a multi faceted organization that offers an extensive range of construction equipment and related services in the UAE and the neighbouring countries such as Oman, Saudi Arabia, Qatar, and Ethiopia.
For over the past two decades, it has contributed significantly to the rapid growth in the infrastructure of the UAE through supplying quality construction equipment since it began its operation.
Summary of major responsibilities:
• Reporting to the board of directors.
• Formulate and implement an audit work plan to review the existing procedure and internal control system of the company. Provides recommendations to improve any weaknesses found in the existing control system.
• Develop measures that will safeguard company assets and resources.
• Build and implement system and procedures for internal audit and control for the group and to ensure that an appropriate ERP is implemented to minimize human errors.
• Formulate and develop an MIS that will give the management an up-to-date and accurate information regarding the financial operations and business processes of the group.
• Audit financial data to ensure the accuracy and reliability of all financial transactions.
• Check and determine compliance of each department to the established policies and procedures of the group.
• Assess the appropriateness and effectiveness of controls implemented in each of the companies of the group and monitor corrective actions made to rectify any found errors.
• Monthly and periodic reporting to the chairman or managing director on weaknesses observed accompanied with related recommendations for improvement.
• Selecting suitable candidates to be part of the audit team to bring forth the required effectiveness.
• Main member in the investigation committee
• Main member in the policies committee.
• Interview/recruit suitable candidates for the organization.
• Conducted internal and ISO 9001 pre audits.
• Provided assistance to the external auditors when required, primarily to assist in reducing the scope of their audit.
• Assist the external auditor in order to reduce the external audit fees
• Examination of assurance and completeness of accounting records and financial statements.
Achievements:
o Identified excess payments made to suppliers equal more than AED 0.50 million
o We improved the efficiency of the employees and increased the sales volume by implementing a new working time system.
o Discovered a duplication cases in the time sheets and overtime.
o Monitored the payroll department and put it on the right track within 6 months.
o Created a procedure to control the replaced spare parts, batteries and scrap.
o Conducted a special study to achieve cost saving in copying and communication expenses.
o Discovered diesel theft cases and some personal usage of company resources and created the necessary steps to avoid reoccurrence of similar cases.
o While running the audit function for one of the supplier’s delivery notes we found a clever way that the supplier used, coordinating with some staff, to issue a lot of fake delivery notes.
• Reporting to the audit director.
• Reviewed the financial statements of companies (Balance sheet, income statements, cash follow.... etc.)
• Prepared reports for board members and shareholders.
• Analysed financial statements of companies and provided opinion on the effectiveness of activities.
• Financial forecasting and setting of strategic financial goals.
• Prepared different kinds of reports.
• Handled different consultation cases.
• Built solid communication channels with clients.
Achievements:
o Identified many control lapses and recommended process improvements.
o Due to the effective and efficient completion of the audit assignments, the co-source arrangement was renewed for one more year.
o Got promoted from auditor to senior auditor.
4) AL FAHIM CONTRACTING COMPANY LLC.(UAE-DUBAI)
March 2005 - March 2010
Designation: Finance and Administration Manager
Al Fahim company is a very fast growing company, which started in June 2004 with fixed steps and steady growth.
Summary of major responsibilities:
• Reporting to the managing director
• Provided and presented full financial analysis.
• Implemented efficient and effective financial accounting policies and procedures, which were compatible with external parties’ systems and polices.
• Efficient and fast reporting leading to quick and solid decision making by management.
• Applied efficient purchases program and polices, which guaranteed smooth working system and reduced direct and indirect costs and speed up deliveries to construction sites.
• Applied a modern human resources system that motivated employees to reach higher positions based on their hard work and enthusiasm.
• Ensured that all financial transactions are complying with the company policies and procedures.
• Managed day-to-day accounting functions.
• Maintained strong yet smooth financial internal control environment.
• Cash flow and financial statements projections.
• Initiated all kinds of insurance policies.
• Updated fixed assets and maintained their computerized registry and processed periodical depreciation.
• Processed and supervised periodical payroll transactions.
• Developed different types of management reports for management review.
• Prepared and followed up banks’ daily cash flow positions.
• Prepared monthly cost and budget reports and “upon request” reports.
• Analysed financial statements to detect weakness points in systems, procedures, and polices applied.
Achievements:
o During these three years at AL FAHIM Group I had a major role in expanding the Groups turnover value from AED 8 million to AED 500 Million.
o Cost saving worth AED 3 million in procurement department.
o Established banks facilities as overdrafts, short and long term loans.
o Created comprehensive systems and polices for accounting, purchases, and human resources.
o Created internal communications computerized system.
o Worked closely with the German company ICOMAS (Internal Construction Management Services). To acknowledge my hard work and knowledge they issued a recommendation letter to me stating my accounting knowledge, communication skills, etc..
o Got more than one promotion during my service in FCC starting from accountant to accounts manager to finance manager to finance administrative manager
5) AL KHALEEJ SUGAR LLC (UAE- DUBAI FREE ZOON) March 2002 - March 2005
Designation: Senior Accountant (started as Accountant Assistant)
AL KHALEEJ SUGAR is one of the biggest industrial companies in JABEL ALI FREE ZOON, which started in 1995. It was the first sugar refinery to be established in the Arabian Gulf, with a daily production capacity of 4500 tons. The refinery has continuously improved its operations to become one of the most efficient refineries in the world.
Summary of major responsibilities:
• Reporting to the finance manager.
• Processed Invoice/debit customers’ accounts.
• Immediate and professional response to solve customers’ problems.
• Coordinated communication between sales and delivery departments.
• Issued daily, monthly, and yearly reports to refinery management, sales and marketing managers, finance department, despatch department, and quality control department.
• Handled petty cash with daily petty cash reconciliation submitted to finance department.
• Prepared and distributed monthly labour salaries.
• Prepared sugar balance sheet at end of the year.
• Supervised delivery department.
• Worked in documentation department for 3 months.
• Worked in dispatch and delivery department for 3 months.
Achievements:
o Developed a master template generated from the ERP system and used it to issue different reports for different departments such as general manager office, sales manager, packing department, stores, logistic ….. etc.
o Took the responsibilities of accounts manager upon his absence (e.g. 1 month vacation/year)
6) MIAMI CONTRACTING CO & AL TATWIR COMPANY LLC (UAE- DUBAI)
August 1999 - March 2002
Designation: General Accountant
Al TATWIR CONTRACTING CO LLC and MIAMI CONTRACTING COMPANY, both companies belong to the same sponsor and employed more than 150 personnel.
Summary of major responsibilities:
• Reporting to the general manager.
• Prepared all accounts up to balance sheet.
• Prepared monthly reports requested by management.
• Followed up overall financial situation of the company with management and owners.
• Prepared and distributed staff and labour salaries.
• Dealt with subcontractors and suppliers
• Handled petty cash.
• Degree: Bachelor of Economics and Administrative Sciences, Zarka Private University, Major : Accountancy, Graduation Year : 1999, Grade : Very Good