GRC, Audit Director & Ethics Officer
Air Liquide
Total years of experience :31 years, 10 Months
1. Governance, Risk Management and Compliance:
Ensure the sustainable performance of the company, prevent and detect misconduct to protect the interests of stakeholders through rigorous corporate governance, proper internal controls and risk management processes with full compliance with laws and regulations through maintaining policies and procedures to manage the risk of non-compliance, verifying that departments are in compliance with such policies, procedures and applicable laws and regulations, addressing any violations and detecting fraud and monitoring corrective actions, evaluating and enhancing the effectiveness of the internal control structure and risk management process, providing training and support regarding compliance, internalcontrol activities and risk management strategies and programs and oversight the following domains:
- Ethics behaviors, Principles of Action and Code of Conduct
- Prevention of corruption and conflict of interest
- International trade compliance
- Data protection, privacy and digital security
- Competition law
- Investigations of suspected fraudulent activities, non-compliance practices and improper behaviors
Set rules required to lead and direct the company include mechanisms to regulate the various relations between the Board of Directors, Executive Management and Shareholders, to formalize and organize the decision-making process including authorization structure and delegation of powers in compliance with laws and regulations.
Played a backup role to direct and supervise the Finance and Accounting department in managing daily activities, financial closing, year end financial statements preparations, year end audit processes and tax compliance requirements (inspection, clearance, transfer pricing...etc.)
2. Audit:
Perform assurance activities to evaluate and develop the effectiveness and efficiency of the risk management and the internal control structure to identify weaknesses, deviations or errors (intentional or unintentional) and provide recommendations to support the entities to achieve the defined objectives through:
A. Develop and implement a risk based annual audit plan including special tasks or projects requested by the group, local management and the audit committee.
B. Determine whether the company’s network of governance, risk management and control processes is adequate and functioning in a manner to ensure:
- Risks are appropriately identified and efficiently managed.
- Interaction with the various governances occurs as needed.
- Significant financial, managerial and operating information is accurate, reliable and timely.
- Employees’ actions are in compliance with policies, procedures, standards, laws and regulations.
- Resources are acquired economically, used efficiently, protected adequately and safeguarded.
- Plans, programs, targets and objectives are achieved.
- Quality and continuous improvement are fostered within the organization’s control process.
- Legislative or regulatory impacting the company are appropriately recognized and addressed.
C. Conduct investigations of suspected fraudulent activities.
D. Evaluate and assess significant merging and acquisition (support in acquiring Libya Gas Co. and Pure Helium Egypt Co.)
E. Issue periodic reports to audit committee, Board of Directors and management summarizing audit results with recommendations for improvement, preventive and corrective actions.
F. Ensure that all identified opportunities for improving the company’s image, growth, efficiency, profitability and controls are communicated to the appropriate level of management and deployed.
G. Maintain a professional audit staff with sufficient knowledge, skills and experience.
H. Participate in designing financial reports for the entities in Oman, Bahrain and Qatar. Performed audit assignments for the entities in UAE and Qatar. Conducted investigations on specific transactions in the entities in Saudi Arabia, UAE and Kuwait.
A. Audit
- Participate in the audit engagements acceptance including the deployment of the engagement risk assessment to identify the potential risks that require special consideration.
- Evaluate and assess the business risk management process and the effectiveness of the related management processes and the internal control structure to reduce the risk to an acceptable level.
- Identify the risk of material misstatements in the financial statements and that control processes to mitigate these risks in order to design the audit plan.
- Develop the audit plan to provide reasonable assurance that material misstatements and errors in the financial statements are detected.
- Implement the audit plan by applying controls and detailed tests approaches.
- Evaluate audit findings and the appropriate courses of action in response.
- Report the audit results and internal control weaknesses with recommendations by improvement, corrective and preventive actions.
- Manage, supervise and evaluate the audit teams.
- Train the audit staff (infield trainer and instructor)
- Manage jobs portfolio (20-25 clients) and control staffing, timing, budgeting, and profitability.
B. Due Diligence, Evaluation and Business Consultancies
- Evaluation of assets and liabilities, both historical and forecasted profitability and cash flow in order to determine the companies’ shares fair value.
- Study the existing organization structure and workforce to provide favorable alternatives of reorganization or restructuring methods.
C. Privatization
Evaluate and determine the shares’ value of the public governmental companies under the Egyptian Privatization Strategy Program.
D. Accounting & Internal Control Services
- Establish accounting, finance and internal control departments for the clients.
- Set-up the internal control structures including accounting system, policies and control procedures.
- Design accounting manuals, chart of accounts, processes and accounting cycles.
- Build and set-up the ERP system in line with the business processes cycles.
- Prepare budgets and projected cash flows.
- Monitor and supervise day to day performance of accounting, finance and control departments.
- Manage the monthly and year-end closing duties.
- Prepare financial statements and consolidated financial statements accompanied with disclosures, analysis, ratios and KPI’s.
- Train, support and supervise the clients’ employees.
By Arthur Andersen, I seconded to Sokhna Port Development Co. - SPDC (afterward; DP World Sokhna) and Egyptian Containers Handling Company - ECHCO (Amiral Group) as a Finance Manager from 2002 till 2005. SPDC was established to build, manage and operate a maritime port and comprehensive logistic center including four terminals (container, bulk, general cargo and fertilizer terminals) and perform all stevedoring, shipping, transportation and marine activities.
Participated in the establishment of the first Egyptian private port and comprehensive logistic center in the country through:
A. Develop and set the financial policies, procedures and control procedures.
B. Set up Oracle financials ERP system and the interface with Navis (port operating system), Red Sea Ports Authority, Customs Authority and CIB bank systems.
C. Design the chart of account, accounting manuals and processes cycles.
D. Design the tariff structure and activities (stevedoring, shipping, transportation, storage, clearance, inspection…etc.) price lists.
E. Monitor and supervise the day to day finance and accounting department duties and responsibilities.
F. Prepare the 20 years business plan, annual budgets and forecasts with monitoring the related performance.
G. Manage and control the treasury activities, cash flow and working capital.
H. Prepare the new investments studies and control the related actual spends and financing resources.
I. Manage and control the accuracy and completeness of the accounting records.
J. Supervise the preparation of monthly financial packages, year-end closing and financial statements.
K. Prepare the group consolidated financial statements with related disclosures, analysis and KPI’s.
L. Organize and facilitate the auditors, tax advisor and inspectors missions.
M. Coordinate the requirements of the financial institutions and investors (AIG, EFG Hermes and HBH).
N. Support, supervise, manage and train the finance department team members (10-12 accountants)
Fellow of the Egyptian Society of Accountants & Auditors (FESAA)
Bachelor of commerce