Internal Audit & Controls Manager
Food and Fine Pastries Manufacturing Co Ltd- Sunbulah
مجموع سنوات الخبرة :20 years, 10 أشهر
Involved in preparation of audit plans, assessment of risks, definition/ implementation of internal controls
Conduct/ document specific audit procedures performed in compliance to manufacturing organizations audit standards
Render qualitative presentations and generate various status reports based on audit requirements
Coordinate activities related to automation of Marketing Payments through SAP, implementation of controls through SAP in Warehouse Management to minimize delays in clearing in-transit stocks
Accomplishments:
• Coordinate activities related to automation of Marketing Payments through SAP, implementation of controls through SAP in Warehouse Management to minimize delays in clearing in-transit stocks
• Played key role in enhancing Insurance Coverage for Salesmen leading to risk coverage of SR 1+ Million exposure of receivables
• Significantly enhanced controls in Compensation & Benefit-Payroll Management including calculation of end of service benefits through implementation of effective controls in SAP
• Saved exchange loss of SR 1+ Million through development/ implementation of qualitative risk management techniques
Role:
• In depth analysis of financial statements with routine reporting to management
• Liaised with External Auditors in finalization of annual financial statements
• Focused on treasury management activities encompassing Banking Operations Management, Currency Hedging, Fund Flow Monitoring, Debt Management in coordination with other banks
• Managed various aspects related to debtor/ creditor management, filing of monthly tax and Zakat returns
• Maintained regular interaction with insurance brokers based on business requirements
• Coordinated activities related to upgrade of SAP (FI) module, implementation of remedial measures for wrong import invoicing of raw materials (resulting in cost saving of SR 650, 000 of additional import duty till date)
• Involved in assessment of risks and definition/ implementation of internal controls
• Conduct/ document specific internal controls procedures performed in compliance with organizational standards
• Render qualitative presentations and generate various follow up reports to management
Planning and executing various financial, compliance, and operational audits in accordance with accepted professional standards in order to determine compliance with institutional policies and procedures and adherence to applicable laws and regulations.
• Developing detailed audit plans and programs.
• Evaluating the adequacy and effectiveness of internal controls
• Performing specific audit procedures and preparing work papers documenting the audit procedures performed.
• Assigning work to staff auditor(s).
• Providing on-the-job training and supervision of staff auditor(s).
• Preparing comprehensive presentations and written reports.
• Follow-up to determine adequacy of corrective actions.
• Providing assistance to external auditors as requested.
• Conducting special studies and projects as may be assigned.
• Banking Operations Management & Fund Flow Monitoring on behalf of Mutual Funds.
• Execution, Monitoring and Review of Investments (Equity and Money Market) and Unit Management.
• Execution of Borrowing from banks against securities in case of Redemptions.
• Review and execution of transactions of Open and Close ended Mutual Fund
• Statutory & Compliance Review of daily transactions
• Supervising the staff
• Preparation and reconciliation of Subsidiary Records
• Review of Financial Statements (In the light of NBFC Rules and International Financial and Reporting Standards)
• Preparation and filing of statements, income tax returns and appeals of various corporate clients
• Advising, corresponding and meetings with clients regarding various tax matters
• Representing clients on hearings and appeals from initial tax assessment proceedings to various appellate forums
Qualified
Passed Chartered Accountancy Exam Final Part 1
Passed with a B Grade 60%