Muhammad Shahid

Experience

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  Collectorate of Sales Tax, (Federal Board of Revenue)

  Jul 2001 - now

  VAT Auditor

  • Conducted internal audit of duties and taxes levied by the Government of Pakistan;• Conducted external audit of registered sole proprietors, partnership firm and companies to oversee Value addition and to improve Sales Tax Act (in VAT mode) compliance culture;• Develop industrial notes helpful for audits at Collectorate level;• Recover VAT for government exchequer; and• Attend, present and defend contravention cases along with submission of para-wise comments in adjudication and courts Show less

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  Maple Leaf Cement Factory Limited

  Jan 2008 - Oct 2013

  Manager - VAT Audit

  • Supported Group Chief Internal Auditor to develop annual risk based audit plan for implementation and execution and to meet business challenges;• Reviewed the means of safeguarding of assets and verify the existence thereof;• Conducted risk assessments, developed audit programs and system documentations of various segments of audit areas;• Performed test of controls to determine effectiveness of internal control, established robust control framework and activated mitigation processes for improved and smooth business operational efficiency;• Reviewed audit reports, working papers, audit conclusions, corrective action plans for resolution and pending audit issues;• Reviewed the reliability, accuracy and integrity of significant financial, operational and management information;• Reviewed accounting system, internal control system, processes, policies and SOPs for evaluation and compliance of the same;• Undertook special investigation, management consultancy and independent review in the related areas of control, risk management, safety, security and other areas of focus as approved by the Audit Committee; and• Responsible for directing, assigning and monitoring the work of assigned staff. Show less

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  Freelancer

  Oct 2013 - Jul 2015

  Management Consultant

  • Conducted forensic audit of GCC approved Laboratory having turnover Rs.81 million to analyze, interpret, summarize and present complex financial and business related issue and detected embezzlement of Rs.94 million;• Tested and implemented supply chain management software (Store and Accounts modules) to make flexible, responsive, efficient and effective for all stakeholders of Dandot Cement PJSC; and• Registered private limited companies in SECP.

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  Rizwan and Company (Chartered Accountants)

  Jul 2015 - now

  VAT Manager

  • Managed and looked after the affairs of VAT Department;• Coordinated with VAT Department for conducting Audits of top brands;• Filed income tax and VAT returns of individuals, AoP and Companies;• Correspondence/ appearance in Income Tax and Provisional/ Federal VAT authorities; and• Registered of new clients.