Senior Auditor
Mohamed Hilal Group (Luxury Retail)
Total years of experience :12 years, 1 Months
Look after entire foundation, setup and execution of Internal Audit department of the Group. Following were my job duties:
Execution of IA Plan, as approved, including, and as appropriate, any special tasks or projects assigned by top management;
Conduct follow up to verify that the audit recommendations have been implemented by the management;
Follow up the results of investigation of significant suspected fraudulent activities within Company;
Assist in the preparation of reporting to the Senior Management;
Identify and evaluate risks associated with control environment;
Analyse and evaluate business controls and processes, assess compliance and process effectiveness / efficiency;
Facilitate best practices and provide value added recommendations to improve / safeguard assets;
Preparation of audit planning documents including audit programs;
Execute audit fieldwork through process understanding and documentation, assess the process embedded with control adequacy and testing control on a sample basis;
Prepare draft report for Manager’s review;
Discuss the identified observations with management and seek their acceptance by providing rational justification and evidences; and
Finalise the audit report after getting management responses.
• Development and implementation of COSO Enterprise Risk Management (ERM) program, Framework, Guide, policy and documents;
• remained key figure in integrating ERM with business planning, decision making, strategy, objective setting and reporting to board leadership;
• run half yearly risk awareness training campaigns as per Risk Committee’s initiative of “Increasing Risk Knowledge and Coaching on Risk”;
• develop and maintain risk registers at group, divisional and departmental level in consultation with all assigned risk champions using Active Risk Manager (ARM);
• identify strategic, operational, financial, fraud, corruption, bribery, credit, IT, health and safety and regulatory risks at every level in the group;
• perform current internal control testing to conclude residual risk assessment rating as per approved Risk Appetite Statements and document assessments with clear and adequate working papers;
• recommend comprehensive mitigation plans and strategies on identified and assessed risks;
• creation of Universal Risk Register (URR) to integrate group wise dashboard risk reporting;
• quantify risks and perform business impact analysis on profit and loss and balance sheet. recommend improvements if appetite exceeded;
• conduct investigations into group business units and subsidiaries to investigate on non-compliance and fraud risks;
• redesigned complete risk assessment policy and procedures to bring time efficiency internally as well as to management;
• coordinate with external authorities, analysts, consultants and trainer for risk assessment and other analyses purpose;
• ensure proper documentation control and provide secretarial support to Risk committee;
• perform Quantitative Risk Analysis (QRA) using valuation models, ratios, investment appraisal, Monte Carlo, sensitivity and others;
• prepare and communicate periodic Risk Profile Reports (RPR) that includes risk levels using heat map, cause-and-effect and mitigation plans and give presentations to apprise management of key findings and proposed and agreed mitigation plans to obtain their commitment on it;
• monitor implementation of risk mitigation plans as deadline approaches;
• work closely with the management to upgrade their policies and implement actions on mitigation plans;
• work closely with management and assist in development and setting of Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs); and
• update and report to the Risk Committee, Board of Directors and Management on status of overall risk profile of Union Properties.
Development of Annual Assessment Plan (AAP) for clients;
development of Risk Control Matrix (RCM) and audit programs;
successful execution of internal audit assignments (COSO Internal Control Framework application) and Corporate Governance reviews;
report on adequacy, effectiveness and efficiency of internal controls and mitigation plans to manage risks;
exceeded findings and observation consistently at clients after handover;
keep broader focus on clients operations with objective to assist in reduction of extra costs to bring cost savings;
completed Enterprise Risk Management (ERM), Gap Analysis, Process documentation and fraud investigation assignments for clients; and
develop draft assignment reports for initial conclusion.
Development of Annual Assessment Plan (AAP) for clients;
development of Risk Control Matrix (RCM) and audit programs;
successful execution of internal audit assignments (COSO Internal Control Framework application) and Corporate Governance reviews;
report on adequacy, effectiveness and efficiency of internal controls and mitigation plans to manage risks;
exceeded findings and observation consistently at clients after handover;
keep broader focus on clients operations with objective to assist in reduction of extra costs to bring cost savings;
completed Enterprise Risk Management (ERM), Gap Analysis, Process documentation and fraud investigation assignments for clients; and
develop draft assignment reports for initial conclusion.
Financial Statements - preparing draft financial statements including Statement of Comprehensive Income, Financial Position and Cash Flows;
General Accounting - ensure timely recording of General and B2B sale and expenses in ERP system as per IAS/IFRSs;
Cash and Bank - design, implementation and strict monitoring of SOPs related to cash and petty cash expenses. The controls resulted in reduction of around 20% expense. To record all cash receipts and payments in the GL system;
Sales and Accounts Receivable - ensure timely review of receivables on occurrence of B2B sale and other transactions and take continuous follow-ups on recovery of amount through emails/phone calls.
Purchases and Accounts Payable - prepare critical expense analysis reports prior to payments to suppliers and record all purchases, monthly accrual and payments in ERP system by preparing Bank Payment (BP) and Journal Voucher (JV);
Project - attend meetings on implementation of Microsoft Dynamics AX 2012 and resolve control/accounting issues. Look into complete accounting and reconciliation of Qurbani Project;
Payroll - reconcile the payroll with HR coordinator and make sure its consistency with accounts;
Taxation - coordinate with taxation department on tax issues on sales and payments and;
Ad hoc issues - to prepare ad hoc reports and deal with the issues as required by manager/CFO.
Audit, Accounting, Budgeting, Business Analysis, Risk Management and other business related subjects
Sound knowledge of IFRS and Financial Management can be expected from me.
Graduate with Good grasp on Accounting, Business Communication, Economics, statistics and Auditing can be expected.
Good grasp on Microsoft Excel 2010 and Peachtree Accounting can be expected from me as it has been a part of my interest.