Umair A. Abbasi

Experience

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  PrimeGlobal - Fazal Mahmood and Company Chartered Accountants

  Mar 2014 - Feb 2018

  -Directed and executed external audits for clients in manufacturing, textiles, and service industries, ensuring regulatory compliance and accuracy.-Conducted advisory assignments, including financial analysis, feasibility studies, and process optimization for clients.-Assessed internal control frameworks of client organizations, identifying weaknesses and proposing corrective measures to enhance efficiency.-Led teams in statutory audits, developing audit plans, and ensuring the timely completion of engagements.-Prepared audit reports and delivered presentations to client management, detailing key findings and recommendations.-Provided training and mentorship to junior audit staff, ensuring their professional development and adherence to firm policies. Show less -Assisted in external audits across multiple industries, ensuring compliance with IFRS and ISA standards.-Collaborated in the preparation and review of financial statements for clients, ensuring timely submission and regulatory adherence.-Conducted variance analysis and identified discrepancies, addressing client concerns proactively.-Evaluated and tested internal controls, helping clients improve their risk management frameworks.-Participated in stock counts, bank reconciliations, and audit planning activities for diverse clients.-Prepared detailed working papers and audit documentation, ensuring transparency and accessibility for senior auditors. Show less The role of Internal Auditor at Ayesha Textile Mills was outsourced to Fazal Mahmood & Co., Chartered Accountants.-Conducted weekly costing analysis for all four textile units, providing actionable insights to optimize -production efficiency and cost management.-Prepared monthly financial statements, ensuring accuracy, completeness, and compliance with applicable standards.-Performed comprehensive vouching of all financial transactions to maintain accuracy and accountability in records.-Conducted surprise mill visits to verify stock levels, inspect operational compliance, and ensure adherence to internal controls.-Collaborated with external auditors during statutory audits, ensuring smooth and efficient auditing processes.-Delivered regular reports to senior management, highlighting findings and recommending process improvements. Show less

  • Senior Audit Associate

    Aug 2016 - Feb 2018

  • Audit Associate

    Sept 2015 - Aug 2016

  • Internal Audit Associate

    Mar 2014 - Sept 2015
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  Monnoo Group of Companies

  Apr 2018 - Jul 2019

  Deputy Controller Accounts

  I managed the accounts department of two group companies—Rawal Textile Mill Limited and Tribal Textile Mill Limited—within Monnoo Group, a leading conglomerate in the textiles and agriculture sectors. My key responsibilities included overseeing ERP-related issues for both mill and head office users, maintaining the Chart of Accounts, and managing master data for Customers, Suppliers, and Letters of Credit.I played a critical role in the monthly closing of accounts, preparing financial statements for public companies in line with IFRS/IASs/Companies Ordinance, and providing monthly management reports with in-depth analysis. I led reconciliation efforts with suppliers and customers, ensured compliance with Group policies, and coordinated with external auditors for the financial year 2018. Additionally, I supervised the preparation of tax audit details, managed Sales Tax Return summaries, and oversaw the training and management of accounts department personnel.This role allowed me to contribute to the financial stability and compliance of Monnoo Group while enhancing my skills in financial reporting, ERP systems, and team leadership Show less

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  M.Salman & Co chartered Accountants

  Jul 2019 - Aug 2024

  Supervisor Audit and Assurance

  During my tenure of over 5+ years at M. Salman & Co Chartered Accountants, I played a pivotal role in establishing and expanding the firm’s audit practice. I led multiple audit teams, managing the full audit lifecycle from planning to completion and ensuring strict compliance with IFRS, GAAP, and local regulatory standards. My expertise included conducting risk assessments, implementing internal controls, and enhancing financial reporting processes across industries like textiles, manufacturing, and healthcare. I provided strategic recommendations to improve internal controls, drive operational efficiency, and enhance clients' financial governance.Additionally, I contributed to the development of audit staff through mentoring and training, promoting continuous learning and professional growth within the team. My leadership and detailed approach to audits consistently resulted in successful outcomes, timely project completions, and high levels of client satisfaction.Through my contributions, I helped strengthen the firm’s reputation, resulting in a steady increase in audit engagements and long-term client relationships. Show less

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  Invented Solutions

  Jan 2025 - now

  Accountant