Professional Summary:
JINN PETROLEUM PRIVATE LIMITED (October 2018 To Date)
· Position: Senior Executive (Finance Dep’t)
USMAN HASSAN & CO., CHARTERED ACCOUNTANTS (February 2018 To October 2018)
· Position: Manager - Audit & Assurance
ILYAS SAEED & CO., CHARTERED ACCOUNTANTS (January 2015 To February 2018)
· Position: Audit Associate (ICAEW Article-ship)
· Assisting Finance Lead in Preparation of Financial Statements, Group Consolidation & Related Inter Company Transactions in line with requirements of related laws, regulations & IFRS.
· Supervising GL team for Monthly Financial Closing of Revenue, CAPEX, OPEX, Accruals & Stock etc. in SAP.
· Responsible for “Real Time” Management Reporting of Receivable, Payable of APL, BYCO & PARCO, Profit
Margin, Oil Stock, Depot-wise Uplifting (Financial & Non-Financial Data) for Business Analysis.
· Operating SAP as a “Power User” & ensure that all financial transactions have been incorporated in SAP.
· Assisting in overall Treasury management, Covenants compliance, Liquidity management, Markup calculation, Optimization of Finance cost, Daily Cash Flows position & transactions of hundreds of million.
· Preparing & processing of Onshore / Offshore LC documents, LC Discounting, Landed Cost of Cargo
(Import), Custom Duties, Exchange rate negotiation, & maintaining record of all Trade transactions in SAP.
· Compilation of Product’s Pricing i.e. Gasoline 92 Ron as per Platt’s Asia-Pacific/Arab Gulf Marketscan.
· Liaison with Banks, Internal & External Auditors, Insurance Co., Exporter, Custom & Clearing Agents etc.
PROFESSIONAL ACHIEVEMENTS
· Involve in arranging finance, handling Foreign & Local LC’s worth Billions, RF facilities of over a Billion, Bank Guarantees & Import of Petroleum Products & involved in registration of WEBOC for JINN.
· Slashed Trade Debts from Rs.80 Million to Nil by effectively managing Credit Control Department of JINN.
· Negotiated Payroll Finance of Rs.50 Million from bank w.r.t SBP Refinance Scheme during Covid-19.
· Involved in the Mapping and Migration of Financial & Non- Financial Data to SAP “GO LIVE INITIATIVE” from JINN’s previously operated financial software within stipulated time line.
· Execution of a systematic, disciplined and balanced approach to evaluate and improve the effectiveness and efficiency of processes, internal controls, risk management and governance processes and adding value to support further global scale by identifying audit recommendations to support both corrective action and process improvements.
· Formulated the policy and procedure for “Financial Audits, Compliance Audits, Information Systems Audits, Operational Audits” and “Investigative Audits”.
· Delivered high quality audit and assurance services, including preparing and reviewing audit plans & work.
· Presentations to the BOD and Audit committees of the audit clients and supported them in the Technical Interpretation of IFRS & relevant accounting treatment.
· Preparation of Audit Reports containing observations, comments & recommendations based on carried-out work and assist in knowledge management process by provision of accurate, sound and timely professional advice to company’s management.
· Planning regarding the Tax Reduction by using Tax Laws & Regulations.
· Coached, trained and developed auditing staff to upgrade their knowledge.
PROFESSIONAL ACHIEVEMENTS
· Lead Forensic Investigation of a foreign exchange company & uncovered fraud of Rs.25 million for UHCA.
· Lead the team in obtaining Income Tax Exemption of NORI Trust (Atomic Energy Cancer Hospital) from Pakistan Centre for Philanthropy u/s 100 C of ITO 2001 while serving UHCA.
· Senior Member of the team, involved in Tax Audit of a Manufacturing Concern u/s 177 of ITO 2001 & the outcome is that tax liability reduced from Rs.24 million to Rs.1 million while serving UHCA.
· To Perform Audit in compliance with International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISAs) and various relevant local laws & regulations.
· To Conduct detailed controls testing of financial, operational and compliance controls and providing recommendations to management for risks and weaknesses identified.
· To Prepare Financial Statements in accordance with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).
· To manage the Tax Notices issued by FBR to different clients through tax planning.
· Filing of Income Tax Returns of Individual and Corporate Clients.
· Filing of Withholding Tax Returns, preparation of National Tax Number and PSID’s.