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Raza Khushnood
Manager Internal Audit
Orient Group of Companies - Lahore, Pakistan
概要
To be a part of a dynamic environment that possesses challenges and provides opportunities to excel professionally and to contribute significantly towards the growth of the organization. Along with, acquiring knowledge through excelling into academics and gathering experience in order to nurture my expertise and enhance my potentials.
项目
Debt restructuring and other financial arrangements
Impairment indicators in financial investments including reviews of project
Group Reporting
Merger of Metro Cash and Carry Pakistan (Pvt.) Limited with House of Habib
Forensic audit assignments
Implementation of Budgeting module in SAP ERP system
Insurance premium recovery analysis
Insurance premium recovery analysis
Countrywide customer services KPI and performance indicators including rela
Business feasibility for 'On-Demand Service' business
Business process review of BlueEast, an online retail sales Company
Business feasibility for ‘Fulfillment’ business and online sales portal
Business acquisition
Scoping documents and audit programs
Restructuring of risk assessment & compliance department
During my professional career I have worked on various audit assignments related to debt restructuring and financial arrangements obtained from banking, financial institutions and consortium of banks which enabled me to have a thorough understanding of important aspects of these transactions e.g. covenants compliance and classification as per IFRS.
Impairment indicators in financial investments including reviews of project
Reviewed various financial projections of client’s investments in Associates, Subsidiaries and other shareholdings to critically analyze the NPVs and returns using DCF techniques with core objective to identify any impairment in the investment and findings on the business’s Going Concern issues. The assignments included exposure both at local and international level thereby capitalizing my Financial knowledge.
During my tenure with KPMG I completed many Group reporting packages to be presented to the Group auditors both at national and international level. Main clients involved were Metro, a German based cash and carry, Total Parco, an Oil & Gas sector French client. Local clients included Azgard Nine Limited under whose umbrella a foreign apparel trading subsidiary (Montebello s.r.l) and a Urea Manufacturing Listed Company (Agritech Limited) operated.
Merger of Metro Cash and Carry Pakistan (Pvt.) Limited with House of Habib
The assignment involved the review and audit of financial statements of both Metro Cash & Carry Pakistan (Pvt.) Limited and Makro Habib Pakistan (Pvt.) Limited from merger point of view. The scheme of amalgamation was critically analyzed and I was responsible to ensure the completeness and accuracy of financial data transfer from Oracle Financials to SAP. Further on behalf of KPMG, I liaised with PWC for the completion of balance sheet audit of Makro Habib Pakistan (Pvt.) Limited.
Major forensic audit assignment was conducted for Azgard Nine Limited, a listed company involved in the spinning, weaving and export of international branded jeans and apparel products. The focus was to review and audit the financial statements of the Company which was in process of significant restructuring of its debt finances and sale of its subsidiary against adjustment of loans obtained from banks.
Implementation of Budgeting module in SAP ERP system
Brief description:
Analyzed the historical trends of various Head Office and Branch level expenses to critically arrive at the budgeted amount of expenses to be allocated to each area considering the seasonal and operation activity quantum in view.
Results Achieved:
Obtained approval from senior management and successfully implemented the budgets.
Brief description:
Based on lower insurance recovery ratio, prepared report for the management for better negotiation of insurance premiums and health insurance categorical limits. Arranged employee awareness program in conjunction with the insurance company personnel.
Results Achieved:
Successfully enhanced the medical treatment limits under Health Insurance Portal.
Brief description:
Based on lower insurance recovery ratio, prepared report for the management for better negotiation of insurance premiums and health insurance categorical limits. Arranged employee awareness program in conjunction with the insurance company personnel.
Results Achieved:
Successfully enhanced the medical treatment limits under Health Insurance Portal.
Countrywide customer services KPI and performance indicators including rela
Brief description:
Identified the Key Performance Indicators of country wide customer services centers and based on actual results achieved in various categories of performance which include customer complaint analysis including aging and average time taken for resolution of issues, disciplinary analysis, frequency of issues reported for each center, work outsourcing and revenue generation analytics, prepared Relative Rankings of customer services centers.
Results Achieved:
Delivered presentation to the Board and KPIs identified for performance analytics were used by the Management as an element of Customer Services Center's appraisals.
Business feasibility for 'On-Demand Service' business
Brief description:
Prepared the projected Profit and Loss account for online proposed service business for home appliances users throughout the country and critically examined the future prospects and ability of the Company to provide the promised service, keeping the organizational objectives in line. .
Results Achieved:
Provided financial conclusion of the business feasibility to the Director sales and marketing.
Business process review of BlueEast, an online retail sales Company
Brief description:
Carried out the BPR of BlueEast (Pvt.) Limited, an IT based Company involved in the management of online retail sales on behalf of Orient Electronics and Clickmall.com working under the umbrella of Orient Group.
- Gained functional knowledge of order receiving at website portal integrated with Magento Portal, an open source E-Commerce platform used worldwide for automated interaction with order's received at website.
- Studied the AS-IS process of various functions and integrations of systems (SAP, TCS portal & Magento) to identify the gaps and determination of TO-BE processes.
Results Achieved:
Highlighted the gaps in current processes to the CEO and prepared an action plan & work timelines in collaboration with the stakeholders to improve the systems and development of SOPs.
Business feasibility for ‘Fulfillment’ business and online sales portal
Brief description:
Prepared and analyzed the business feasibility for fulfillment business venture entered in to by the Company for the management of an online sales portal. For this purpose, studied the cost elements involved in keeping third party stocks and arriving at a predetermined cost of keeping the stock as per its dimensions.
Results Achieved:
Presented the projected Profit and Loss account together with cost determination formula for the stock keeping.
Brief description:
Critically analyzed the business operations of Aisha Steel Mills Limited a listed entity from acquisition perspective. Financial projections presented by the Acquiree's management were reviewed in conjunction with the due diligence assignment performed by KPMG TH & Co. Chartered Accountants and worked as a communication and analytical expert on behalf of Orient Group.
Results Achieved:
Presented the financial findings of the projections to the higher management including Board of Directors
Brief description:
Critically studied the existing operational procedures of the various organizational departments working both at Head Office and Branch level and analyzed the focal areas to be examined from audit perspective. Based on the initial documentation, operating procedures and control environment assessment, designed the scoping documents and audit programs for the following functions:
1. Banking & Finance
2. Taxation
3. Accounts receivable and credit control function
4. Accounts payable function
5. Human Resource Function
6. Fixed Assets
7. Warehouse and inventory management
8. IT including authorization matrices
9. Cost of goods sold
Results Achieved:
Got documented and approved the scoping documents and audit programs
Restructuring of risk assessment & compliance department
Brief description:
Completed the restructuring assignment of the Company's risk assessment department by personally visiting the geographically diverse branches of the Company and critically examining the quantum of work involved from audit perspective and documented the human staff required for the performance of audit procedures directed towards the ultimate achievement of the Company's compliance function.
Results Achieved:
Hired a team of 10 professionally qualified individuals with exposure in Finance and Audit and conducted initial training sessions for them.
Brief description:
Prepared the Internal Audit Charter and briefed the Audit Committee including the Directors and other stake holders throughout the organizational departments regarding the contents and reasons for having a documented mandate for the Audit Department.
Results Achieved:
With mutual consent of all got the document formally approved.
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