Muhammad Rafay Arshad, FCA

Experience

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  Deloitte Yousuf Adil Chartered Accountants

  Jun 2009 - Jun 2013

  Audit Senior

  Managed external audit assignments, planning and reviewing the work of assistants, preparing reports and communications to clients, interacting closely with the firm’s Managers’, Directors’ and Partners’. The significant industry-wise corporate clients that have contributed to my professional growth in Deloitte & Touche include the following:o Pakistan Steel Mills Corporationo Tuwariqi Steel Mills Limitedo Procter & Gamble Pakistan (Private) Limitedo Gillette Pakistan Limitedo Tata Textile Mills Limitedo Pak Oman Investment Company Limitedo Pak Brunei Investment Company LimitedOther Responsibilities includes;+ Engagement management, client relationship management, coordination with professionals of various fields like legal and IT experts and supporting in decision-making for resolution of critical accounting and business matters; + Monitored the progress of audit including; consultations on difficult and contentious matters; resolution of differences of professional judgment amidst and addressing significant accounting; and auditing questions raised during the audit;+ Provided guidance to clients and staff on implementation of accounting and financial reporting standards; and + Evaluated system of internal controls and risk management procedures, identifying control weaknesses and suggesting appropriate best practices to client management. Show less

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  Deloitte Middle East

  Jul 2013 - Dec 2018

  Worked in Deloitte Middle East as Assistant Manager - Audit and Assurance for more than 2 years and during my tenure I was responsible for finalizing and reporting independent audit and assurance engagements directly to the Senior Manager, Director and Partner. I have handled clients of diversified industries, which includes government entities, manufacturing companies, construction firms, hotels, commercial banks, investment companies and finance companies. Major Clients include:o Oman Development Bank SAOGo Muscat Finance SAOGo Global Financial Invest. Holding Co. SAOGo Federici Stirling Batco LLCo Austal Muscat LLCFurther I have been responsible for the first time implementation of IFRS - 15 for Electricity Holding Company (Group).Main responsibilities include:+ Establishing the overall audit strategy including job budgeting, staff allocation and audit planning.+ Communicating and discussing significant accounting and audit issues with the client.+ Coordinating with various professionals such as other auditors, lawyers and actuaries to aid decision-making in respect of critical audit matters and disclosures.+ Review of financial statements and management letters and ensuring compliance with the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), The Commercial Companies Law, The Income Tax Laws, Central Bank’s regulations and other relevant regulations as applicable.+ Meeting the client’s management to communicate matters of interest, issues, findings and recommendations.+ On-the-job training and professional development of audit assistants through coaching and provision of performance feed back.+ Developing healthy business relationship with the clients and seek further business opportunities for other lines of services of the firm.+ Working in guidance of office leadership for pitching for new audit and assurance engagements; including the preparation of proposals. Show less Joined Deloitte Middle East as Senior - Audit and Assurance and responsible for finalizing and reporting independent audit and assurance engagements directly to the Senior Manager, Director and Partner. I handled clients of diversified industries, which includes government entities, manufacturing companies, construction firms, hotels, commercial banks, sovereign wealth fund, investment companies and finance companies. Major Clients include:o Oman Cables Industry SAOGo National Gas Company SAOGo Muscat Gas Company SAOGo Pasgianos Food & Beverage Company Limited - Sudano Coldair Engineering Company - Sudan o Crown Plaza Muscat (Gulf Hotels (Oman) Company SAOG)o Hilton Salalah (Salalah Beach Hotels SAOG)o Al Bustan Palace Hotelo Oman Development Bank SAOGo Muscat Finance SAOGo Global Financial Invest. Holding Co. SAOGo Federici Stirling Batco LLCo AlHasan Engineering Co. SAOGMain responsibilities include:+ Establishing the overall audit strategy including job budgeting, staff allocation and audit planning.+ Communicating and discussing significant accounting and audit issues with the client.+ Coordinating with various professionals such as other auditors, lawyers and actuaries to aid decision-making in respect of critical audit matters and disclosures.+ Preparation/review of financial statements, covering and management letters and ensuring compliance with the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), The Commercial Companies Law, The Income Tax Laws, Central Bank’s regulations and other relevant regulations as applicable.+ Meeting the client’s management to communicate matters of interest, issues, findings and recommendations.+ On-the-job training and professional development of audit assistants through coaching and provision of performance feed back.+ Developing healthy business relationship with the clients and seek further business opportunities for other lines of services of the firm. Show less

  • Assistant Manager - Audit and Assurance

    Oct 2016 - Dec 2018

  • Senior, Audit & Assurance

    Jul 2013 - Sept 2016
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  Deloitte Yousuf Adil Chartered Accountants

  Dec 2018 - Nov 2020

  As Senior Manager - Audit and Assurance I am responsible for reviewing and finalizing audit and assurance engagements and work directly with the engagement partner in finalization and submission of deliverable. My current portfolio includes clients of diversified industries, manufacturing and trading companies, commercial bank and mutual funds. Major Clients include:o National Bank of Pakistano Procter & Gamble (Pakistan) Private Limitedo Gillette Pakistan Limitedo Shan Foods (Private) Limitedo Tufail Chemical Industries Limitedo NAFA Fundso JS FundsFurther I have been involved in;- Training on accounting and auditing methodology to the audit trainees;- Assisted quality control department in the review of completed engagements to ensure the compliance with the quality standard; and- Review of gap assessment and recognition of leases under IFRS - 16 for Procter & Gamble Pakistan (Private) Limited.Main responsibilities include:+ Establishing the overall audit strategy including job budgeting, staff allocation and audit planning.+ Communicating and discussing significant accounting and audit issues with the client.+ Coordinating with various professionals such as other auditors, lawyers and actuaries to aid decision-making in respect of critical audit matters and disclosures.+ Review of financial statements and management letters and ensuring compliance with the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), Companies Act, Income Tax Laws, State Bank’s regulations and other relevant regulations as applicable.+ Meeting the client’s management to communicate matters of interest, issues, findings and recommendations.+ Developing healthy business relationship with the clients and seek further business opportunities for other lines of services of the firm.+ Working in guidance of office leadership for pitching for new audit and assurance engagements; including the preparation of proposals. Show less As Manager - Audit and Assurance I am responsible for finalizing and reporting independent audit and assurance engagements directly to the Engagement Partner. My current portfolio includes clients of diversified industries, manufacturing and trading companies, commercial bank and mutual funds. Major Clients include:o National Bank of Pakistano Procter & Gamble (Pakistan) Private Limitedo Gillette Pakistan Limitedo Shan Foods (Private) Limitedo NAFA Fundso Pak Oman FundsFurther I have been involved in;- Shari'ah audit of Aitemaad (the Islamic Banking operations of National Bank of Pakistan); and- Review of gap assessment and recognition of leases under IFRS - 16 for National Bank of Pakistan.Main responsibilities include:+ Establishing the overall audit strategy including job budgeting, staff allocation and audit planning.+ Communicating and discussing significant accounting and audit issues with the client.+ Coordinating with various professionals such as other auditors, lawyers and actuaries to aid decision-making in respect of critical audit matters and disclosures.+ Review of financial statements and management letters and ensuring compliance with the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), Companies Act, Income Tax Laws, State Bank’s regulations and other relevant regulations as applicable.+ Meeting the client’s management to communicate matters of interest, issues, findings and recommendations.+ Conducting training for the professional development of audit staff.+ Developing healthy business relationship with the clients and seek further business opportunities for other lines of services of the firm.+ Working in guidance of office leadership for pitching for new audit and assurance engagements; including the preparation of proposals. Show less

  • Senior Manager - Audit & Assurance

    Dec 2019 - Nov 2020

  • Manager - Audit and Assurance

    Dec 2018 - Nov 2019
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  Yousuf Adil, Chartered Accountants

  Nov 2020 - Dec 2022

  As Senior Manager - Audit and Assurance I am responsible for reviewing and finalizing audit and assurance engagements and work directly with the engagement partner in finalization and submission of deliverable. My current portfolio includes clients of diversified industries, manufacturing and trading companies, commercial bank and mutual funds. Major Clients include:o National Bank of Pakistano Procter & Gamble (Pakistan) Private Limitedo Gillette Pakistan Limitedo GlaxoSmithKline Pakistan Limitedo Shan Foods (Private) Limitedo Tufail Chemical Industries Limitedo NAFA Fundso JS FundsFurther I have been involved in;- Training on accounting and auditing methodology to the audit trainees;- Assisted quality control department in the review of completed engagements to ensure the compliance with the quality standard; and- Advising the advisory client on the accounting considerations for its foreign operations.Main responsibilities include:+ Establishing the overall audit strategy including job budgeting, staff allocation and audit planning.+ Communicating and discussing significant accounting and audit issues with the client.+ Coordinating with various professionals such as other auditors, lawyers and actuaries to aid decision-making in respect of critical audit matters and disclosures.+ Review of financial statements and management letters and ensuring compliance with the International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), Companies Act, Income Tax Laws, State Bank’s regulations and other relevant regulations as applicable.+ Meeting the client’s management to communicate matters of interest, issues, findings and recommendations.+ Developing healthy business relationship with the clients and seek further business opportunities for other lines of services of the firm.+ Working in guidance of office leadership for pitching for new audit and assurance engagements; including the preparation of proposals. Show less

  • Director - Audit and Assurance

    Jun 2021 - Dec 2022

  • Senior Manager - Audit & Assurance

    Nov 2020 - May 2021
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  Abu Timam Grant Thornton

  Jan 2023 - now

  • Associate Director

    Jan 2024 - now

  • Senior Manager - Audit & Assurance

    Jan 2023 - Jan 2024