Faiq Fazal

A successful accountancy professional with more than 9 years of experience and expertise in accounting, financial reporting, auditing, corporate and taxation laws. Areas of expertise include: Financial Analysis Budgeting and Forecasting Risk Management Strategic Planning Leadership Communication Technology Proficiency Compliance Problem Solving SAP (B-One) Accounting PROFESSIONAL EXPERIENCE Designation: Manager Accounts and Finance Organization: Ameer Brothers Furnishers - A manufacturer and retailer of Home and Office Furniture. The Company has been operational since 1947 and is considered one of the Pioneers of the Furniture Industry in Pakistan. (February 2022 to March 2023) Designation: Deputy Manager Accounts Organization: Dupak Group of Companies – The group consists of Two Construction Companies, a Shopping Mall Management Company and an Amusement Park Management Company. (December 2020 to February 2022) Designation: Assistant Manager Taxation and Corporate Affairs Organization: Dupak Group of Companies – The group consists of Two Construction Companies, a Shopping Mall Management Company and an Amusement Park Management Company. (June 2018 to August 2020) Designation: Senior Audit Associate Organization: RSM Avais Hyder Liaquat Nauman Chartered Accountants – The firm is one of the Top 10 Chartered Accountancy firms in Pakistan with Affiliation of RSM International which is the 6th Largest Accountancy Firm in the World. (November 2015 to November 2017) Designation: Tax Associate Organization: RSM Avais Hyder Liaquat Nauman Chartered Accountants – The firm is one of the Top 10 Chartered Accountancy firms in Pakistan with Affiliation of RSM International which is the 6th Largest Accountancy Firm in the World. (May 2014 to November 2015) EDUCATION Member – Institute of Public Accountants of Australia Certificate in Accounting and Finance (CAF) – Institute of Chartered Accountants of Pakistan JOB RESPONSIBILITIES AMEER BROTHERS FURNISHERS In Ameer Brothers Furnishers, I was engaged in the management of the entire accounts department where I was directly reportable to the Chief Executive Officer. In my capacity as the Manager Accounts and Finance, I was responsible for: Managing the entire Accounting and Finance Department Managing payments in accordance with the SOPs and the Budget approved by the BOD Preparation of Cash Flows and Monthly Accounts and Presentation to the BOD Assistance and correspondence with the Tax Department and Consultants for major taxation issues DUPAK GROUP OF COMPANIES In the Dupak Group, I was engaged in the management of the entire accounts department where I was directly reportable to the Chief Financial Officer. In my capacity as the Deputy Manager Accounts, I was responsible for: Managing the Cash Flows on a daily basis Managing payments in accordance with the SOPs and the Budget approved by the BOD Preparation of Cash Flows and Monthly Accounts and Presentation to the BOD Assistance and correspondence with the Tax Department and Consultants for major taxation issues of the Group Preparation of Financial Statements of the Companies for the purpose of carrying out the Annual Statutory Audits Assisting the External Auditors in all respects for completion of the Annual Audit In my capacity as the Assistant Manager Taxation and Corporate Affairs, I was primarily engaged in overseeing the taxation and corporate matters of three different private limited companies which include the following: Review of monthly and annual withholding tax statements and Income Tax Returns filed under the Income Tax Ordinance, 2001 Review of the monthly sales tax returns filed under the Punjab Sales Tax on Services Act, 2012 Compliance with requirements of the Income Tax and Sales Tax Laws Correspondence with Commissioners of Income Tax and Sales Tax regarding the notices issued to the Companies by FBR and PRA Preparation of data and responses to notices of tax audit and withholding taxes issued by the FBR Tax Planning on the basis of Budgeted Financial Statements of the Companies Aside from tasks relating to taxation and corporate matters, I was also involved in the accounting matters of the Companies which include the following: Preparation of Financial Statements of the Companies for the purpose of carrying out the Annual Statutory Audits Correspondence with the External Auditors Providing documents to External Auditors and preparation of reconciliations of data as and when required Discussion with External Auditors regarding issues identified during audit and finalization of the Audit Review of Journal Entries of complex transactions to be passed in the ERP system Reconciliation of Intergroup balances on a periodic basis Ensuring the completeness of recurring journal entries on a periodic basis Comparison of Budgeted Accounts with Actual balances and preparation of variance analysis of any material differences. RSM AVAIS HYDER LIAQUAT NAUMAN CHARETRED ACCOUNTANTS I had been associated with RSM from February 2014 to November 2017 and have worked in all the service lines of the firm. My previous position in the firm was Senior Associate Audit & Assurance. I have enjoyed a diversified exposure of carrying out various audit and tax advisory assignments for the large and medium sized companies. On audit and assurance side, I have an experience of managing and participating in statutory audits, compliance and system audits, and special assurance engagements for a diversified portfolio of clients in the following sectors: Insurance (Conventional & Takaful) -Leather Tanning Construction-Educational Institutions Non-Profit Organizations-Amusement Parks On the tax advisory side, I have successfully carried out various assignments involving preparation and filing of Annual and Monthly Returns and Statements relating to Income Tax and Federal and Provincial Sales Tax, preparation and filing of Appeals and compliance with notices issued by the Federal Board of Revenue, for diversified portfolio of clients in the following sectors: -Construction-Leather Tanning -Property Development-Travel Agency -Gas Distributions-Non-Profit Organizations -Branch Offices of Foreign Incorporated Companies-Hospitality -Health I have also successfully carried out training workshops for the staff of RSM AHLN in the department of audit. The goal of these workshops was to develop an understanding among newly inducted trainee students about RSM audit methodology and practical application of International Standards on Auditing and International Financial Reporting Standards as applicable in Pakistan. I am well conversant with International Standards on Auditing (ISAs) and International Financial Reporting Standards (IFRSs) and the changes which are made from time to time. I have a thorough understanding of corporate, tax, mercantile and labor laws which are applicable in the country. I have experience of liaison with the top management of various large and medium sized entities. I also have experience of dealing with Government Authorities like Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR). Last but not the least; I have exposure of working in ERP environments. JOB RESPONSIBILITIES AS SENIOR ASSOCIATE AUDIT & ASSURANCE, RSM AHLN: Prepare, execute, monitor and review annual audit plan; Involved in preparation / review of deliverables for firm’s quality control review by RSM International; Involved in preparation / review of deliverables for firm’s quality control review by the Institute of Chartered Accountants of Pakistan (ICAP); Managing staff effectively to accomplish assignments in timely and efficient manner; Responsible for overall training, development and performance evaluation of trainee students, and maintaining records as per ICAP’s training regulation; Team briefing and imparting on the job training to staff to enable them to handle various assignments entrusted to them; Review audit working papers and audit methodology; Ensure that the engagement team understands the client's needs and expectations and that the work product is client-focused, clear, accurate and well-presented; Monitor the engagement team's performance against the budget & timeline and take corrective measures, if required; Collaborate with the Engagement Partner, Quality Control Reviewer and Client to determine a strategy that appropriately addresses risk and manages client expectations relating to deliverables; Liaison with external quality control reviewer and to respond to the regulators’ queries related to audit clients; Customize and update audit programs/procedures according to the requirements of International Standards on Auditing & Assurance (ISA), International Financial Reporting Standards (IFRS's), Companies Act, 2017 and other applicable laws and regulations; Maintaining healthy working environment and managing relationships both among staff and clients and ensuring the clients are getting quality services. Ensure work is delivered timely and in compliance with regulatory requirements; and Work with other service lines in providing an integrated service delivery. PROFESSIONAL STRENGTHS: Ability to organize, prioritize and meet deadlines Immaculate and thorough professional communication style Strong work ethics with integrity Ability to harness human capital and collaborating with cross-functional internal and external teams to achieve results.