Experience

• 

  Riaz ahmad & company chartered accountants

  May 2013 - Nov 2016

  Senior audit associate

  Statutory audits which include analysis and reviews of financial statements including cash flow statements of various industry clients. Scope of work, included ensuring compliance with management policies, identification of weaknesses in the system for potential risks and examining financial statements to ensure compliance with national and international reporting frameworks, primarily comprising of international financial reporting standards (IFRS).• Internal audits with firm approaches. Core responsibilities included planning risk assessments, understanding the business, scoping and assessing the key risks, development and implementation of Improvement Plans.• Compilation of financial statements in compliance with IFRS and Companies Ordinance 1984 (Corporate laws) while assessing various areas of financial statements such as employee benefits, taxation, foreign currency transactions etc.• Documentation and review of system documentation and policies which includes preparation of system documentation in the form of Transaction Flow Reviews (TFRs), Policies & Procedures Manuals, Segregation of Duty (SOD) matrices; carrying out detailed risk and control evaluation for significant business processes and development of initiatives / recommendations to rectify any control gaps identified.• Performance and Technical Audits and includes assessment of effectiveness, efficiency and economy with which resources were utilized.• Compliance with applicable statutory legislatures including The Companies Ordinance 1984, Code of Corporate Governance, Income Tax Ordinance 2001 etc• Engaged in demerger process to ascertain the financial position for allocations among the member.• Carrying out due diligence analysis and feasibility studies for various clients and involved in determining the value of business for acquisition. Show less

• 

  Almoiz industries limited

  Mar 2017 - Dec 2023

  • Developed financial plan aligned with business strategies for diverse divisions, ensured Organizational sustainability and goal achievement. • Spearheaded the end to end budgeting, ensured compliance with financial plans.• Conduct Financial feasibility of Major Capital and Investment project.• Provided accurate financial forecast based on historic data, market trends, regulatory, and economics changes.• Monitored financial performance against the budget, identified areas for improvement, and reported to relevant stakeholders for timely action on variances.• Supported management in Product pricing decision for the FMCG division, provided accurate cost, market insights, and recommendations for margin sustainability. • Led successful credit rating process, upgrading group's rating twice with VIS Global agency through a robust financial model. Show less • Ensured month end close process for accurately and timely reporting of company’s financial statements as per IFRS• Prepared MIS reports providing strategic insight into detailed business performance, including cost and profitability analysis, revenue trends, cash flow analysis, variance analysis, and KPI’s analysis for different sectors of the business.• Prepared and managed Budgets with assistance of relevant departments and ensured compliance.• Supervised inventory movements and BOM, Cost allocation, collaborated with stakeholder, minimized losses.• Liaison with Insurance Companies for Insurance Claims, endorsement, and renewal of insurance policies.• Monitored and Supervised Banks accounts, Bank balances, petty cash and Bank guarantees, ensure their documentations, reconciliation, and liquidity.• Monitored and supervised Imports, coordinated with Suppliers for L/C’s finalization, forwarder, custom clearance. Negotiated freight rates, transportation cost contracts to minimize the cost.• Forecasted cashflow projection to identify possible future gaps and facilitate financing for identified gaps• Liaison with financial institutions, banks to secure finance to ensure that Company’s meet its working capital for day-to-day operation, Capital Projects and investments.• Revamped the SOP’s, and streamlined the compliance process for corporate and legal laws and regulation• Analyze Secondary Sales of FMCG division (Retail, Wholesales, LMT, IMT, e-commerce channels) and provide insight on market trends, ROI, achievement on Targeted KPI’s. Identified financial risk and control weakness in Sales process and suggested improvements.• Supervised the trade promotions, marketing spends, ensured margins checks and controls in line with plans.• Participated in implementation and improvement of Secondary Sales System (Theia) to ensure proper controls and mitigation of financial Risk. Show less A Brief overview of responsibilities:• Prepared and presented financial statement (Individual and Consolidated) as per IFRS and Corporate laws to Board and C-Suite.• File and Review sales tax return (VAT), WHT and Corporate Tax, ensure compliance with tax laws.• Managed with external and internal audits and successfully completed audits with clean audit reports.• Monitored and Supervised accounts payable and credit control terms with the credit control team, mitigating liquidity risk and ensuring timely payments to suppliers.• Managed invoices, billings Cycle, upheld agreed terms, and expedite the collection of Outstanding balances.• Supervised daily operations of Accounts and Finance Department, including efficient recording of invoices and payroll in ERP system, ensuring compliance with relevant laws • Monitored and supervised of fixed assets and asset under Construction, ensured budget check and compliance with accounting standards.• Ensured documentation and accounting record was maintained in per best practice and Company's policy. • Led the implementation of the ERP system Microsoft Dynamics along with tailored solutions, ensuring robust internal controls across all operational levels. Show less

  • Senior Manager Accounts and Finance

    Mar 2023 - Dec 2023

  • Manager Accounts & Finance

    Mar 2019 - Feb 2023

  • Deputy Manager Accounts & Finance

    Mar 2017 - Feb 2019