Manager Audit
Aga Khan Grants & Review Board for Pakistan
Total years of experience :17 years, 4 Months
The Aga Khan Grants & Review Board, Pakistan (GRB, P), a constitutional body of the Ismaili Community formed under the provisions of the Ismailia Constitution, is primarily involved with two tasks, budgeting and audit. Budgeting consists of reviewing, consolidating and facilitating budget approval of the various Jamati Institutions and Service Companies working throughout Pakistan (such entites). Whereas audit entails financial audits of funds used by such entities, social (also known as programmatic/impact) audits of the numerous programmes conducted by such entities throughout Pakistan and management audits relating to operational side of such entities. Besides, GRB, P also occasionally conducts special audits requested directly from the office of the Prince Karim Aga Khan. Entities covered by GRB, P for audits include four service companies (registered u/s 42 of the Companies Ordinance, 1984) namely Aga Khan Health Services, Pakistan, Aga Khan Planning and Building Services, Pakistan, Aga Khan Education Services, Pakistan, Focus Humanitarian Assistance, Pakistan and five community institutions namely Aga Khan Social Welfare Board for Pakistan, Aga Khan Youth and Sports Board for Pakistan, Aga Khan Conciliation and Arbitration Board, Aga Khan Economic and Planning Board for Pakistan, Ismaili Tariqah and Religious Education Board for Pakistan and their parent entity, the Ismaili Council for Pakistan.
As Manager Audit, I am involved with the audit function of GRB, P. My tasks involve following:
• Prepare the Annual Audit Plan for succeeding year after reviewing the Annual Programme plans for various such entities as submitted at the end of a year and matching with the human resource strength of the Audit Function.
• Keep reviewing the annual audit plan to assess it for any changes required in the light of changing circumstances or revisions in plans of such entities.
• Get involved in the pre-planning as well as planning stages of each of the audit assignments to guide the audit teams regarding risk assessment and areas of focus as well as timelines/deadlines for specific outcomes/deliverables of the audit.
• Review the work of audit staff and discuss with auditees to dispose of audit issues on an on-going basis during audit execution.
• Get involved with the conclusion stage of audits and review the deliverables of the audit in a thorough manner to present the same to the Head of Department for approval.
• Assess performance and training needs of Audit staff and document the same during annual appraisal activity.
• Any other tasks allocated to me by the Senior Management of GRB, P.
Ernst & Young (EY) is one of the largest professional service firms in the world and one of the "Big Four" accounting firms. Ernst & Young is a global organization of member firms in more than 140 countries, headquartered in London, UK. It was ranked by Forbes magazine as the 8th largest private company in the United States in 2011.
Ernst & Young Ford Rhodes Sidat Hyder started its Kabul operations in 2009. Gradually the firm got more and more popular in the region. In 2011, owing to growing number of clients and assignments, the firm required increasing its staff and therefore skilled senior level professionals (4+ experience), including myself, were contacted. Hence I re-joined the organization as an Audit Supervisor. In this role I am required to perform the following tasks:
• Supervising the execution of audit teams, and ensuring deployment of competent and appropriate staff on audit assignments. Ensuring that audit teams execute the audit engagement effectively and efficiently.
• Ensure the audits are performed as per Ernst & Young Global methodology and planning and conclusion is documented and performed concretely.
• Assessing audit client’s standards and requirements, and ensuring satisfaction through adherence to those standards and requirements, while maintaining professional ethics.
• Conducting orientation and knowledge refresher trainings of junior staff. Mentoring and appraising audit team staff to prepare second line seniors / supervisors.
• Besides, I am also involved in business development by preparing proposal offers for prospective clients.
SSJD Bio Processors (Pvt.) Ltd is a newly incorporated company formed by the directors of the renowned Al-Abbas Group. The company is committed to install a distillery which will produce A grade refined ethanol using B grade ethanol which will inturn be exported to foreign customers mainly its chief customer in Italy.
As a Deputy Manager Finance, reporting directly in all matters to CFO of the company, following were my core responsibilities:
• I was responsible for overall maintenance of books of account of the company in accordance with legal and regulatory requirements.
• I was responsible for initiating LCs, TTs, and other forms of transfers and remittances with bank.
• I was responsible for reporting to CFO regarding the daily bank position, and relating expenses to be incurred against the same, distinguishing between capital as well as revenue natured expenses.
• I was also responsible for ensuring that all the payments made are properly approved by appropriate personnel, are paid according to the underlying work orders, vendor invoices, and after verifying the receiving reports. In short, I ensured proper compliance and maintenance of audit trails behind each transaction.
• I had been also acting as a HR department at this stage of the company and have been involved in all the pertaining matters including drafting of employee contracts, keeping employee records in proper filed manner, preparation of payroll data etc.
Besides, being involved in the company from the inception stage, I had been involved in the following tasks:
• Involved in negotiation of and approval of LC margin from bank.
• Involved in preparation and filing of company incorporation related legal documents.
• Drafting of policies and procedures for routine matters and ensuring setting of proper controls thereon.
Ernst & Young Ford Rhodes Sidat Hyder
Karachi, Pakistan
Company Industry: Accounting/Auditing
Job Role: Assurance
During my association with Ernst and Young Global, I have been involved in various external audits, tax audits and internal audit assignments including system reviews, I possess public accounting experience of 4 years. I am well versed with the risk based approach to audit along with sound knowledge of International Financial Reporting Standards (IFRS). Throughout my career at Ernst & Young Global, I have had diversified exposure from various kinds of non-financial audit clients from different industries leading to an increased understanding of various businesses and practices.
Other typical roles while leading the audit engagements include following tasks:
Management & Leadership:
• Provide constructive feedback and evaluation to team members for audit assignments, making suggestions for improvement thereon.
• Conduct formal performance assessment / development of audit staff.
• Trying to be a leader to fellow staff instead of “bossing them around”.
Knowledge management:
• Improve technical knowledge through self-learning and / or training including mandatory CPE / CPD requirements.
• Knowledge sharing with colleagues and peers within the department as well as clients personnel outside the department.
During my secondment to Ernst and Young - Abu Dhabi, I was involved in IFRS audits of various public and private entities.
During my secondment to Ernst and Young - Qatar, I was involved in tax audits of various public and private entities as per the taxation laws there.