Leading internal audit department into assessment of governance, risks, and internal controls at Sapphire Fibres group. Businesses included:○ Spinning○ Textile value added○ Power○ New ventures


Mitigating risk by improving business processes, governance, and automation.
Secretary to the audit committee and presenting them risks and their mitigation strategies
Recommending digital transformation ideas and strategies to the management.

Snapshot:

Managing financial & taxation matters of four companies
Investment appraisal, financial advisory and working capital management
Business Process Re-engineering, Improvement and policy making
Devising Tax, Financial and Administrative strategy
Establishment of Accounting & Finance department including Bookkeeping, Taxation, Banking & Finance, Corporate, Budgeting & Controlling, Planning & Analysis
Implementation of ERP solutions
Consolidated and Separate Financial and Management Reporting
Banking relationship management and negotiating banking facilities.

Outstanding achievements are:

Recovery of stuck-up funds amounting Rs.30 million
Traced Rs.11 million of Advance income taxes
Coordination with parties for WHIT of 3% on receipts instead of 8% improving cash flows
Correction of opening balances: 7 years’ Financial Statements’ restatement and revision of Returns with tax planning and avoidance leading to refunds and tax credits
ERP Go-Live at organizational level in just 1 year and going paper less
Successfully obtained Auto-Finance facility, Corporate credit card, Employee banking, Internet Banking (corporate) facility and enabled foreign payments

Snapshot:

Management Accounts: Analysing and reporting on financial & non-financial performance
Liaising external audit, finalizing statutory accounts and Income tax returns
Supervising, training and grooming sub-ordinates; areas include: Payables | Receivables | Inventory (OPM, UIO) | Fixed Assets | GL | Payroll | Banks | Sales tax | Income tax
Implementing accounting policies, SOPs and ideas for improvement in processes, accounting and internal controls.
Working capital management: Monitoring cashflow forecasts ensuring sufficient liquidity.
Day-to-day analysis and meeting Directors’ special reporting requirements.
Co-ordination with ERP and other departments to resolve issues and cater new scenarios. 
Assisting Group CFO in group level tax planning, strategic direction and improvement in reporting.

Outstanding achievements are:

Monthly closing and reporting pack by 10th of every month
Analysed despatches and POs to identify excess weight in production units causing losses of around of Rs.70m – potential saving for next year
Obtaining exemption certificates and closing withholding income tax audits

My experience in the assurance and related services has enabled me to develop management and leadership skills and a comprehensive understanding of the competitive and regulatory environments and diversified industries including the accounting and internal control systems implemented at various organizations. During my training, I was involved in:

Effective planning and execution of audit engagements as per of ISAs.
Business and audit risk assessment and evaluation of internal controls and recommendations.
Advice to clients on financial and non-financial matters.
Assistance in preparation of financials under IFRS.
Supervision, review and finalization of assurance engagements including preparation of deliverables and resolving audit differences observed during the fieldwork and taking timely decisions on significant matters.
Liaison with client\'s management to determine their needs with respect to deliverables as well as timelines and manage clients’ expectations.
Audits & special assignments were related to a diversified portfolio of clients including Sugar | Dairy | Ghee | Textile |Software | PP Woven bags | Investment and brokerage | Cables.
Accomplishments include: Development of book keeping workbook in Excel | Preparation of recruitment test and related criteria  | Managed QCR | Preparation of Consolidated FS from scratch | Re-statement in Financial Statements | Fixed Assets revaluation.