Ahmed Ifthikar Sheriff                 *: [email protected]

Internal Audit Professional                                    ): 971 50 8111395

SUMMARY

·         Highly accomplished, goal-oriented audit and risk professional with extensive telecom/satellite communication experience with supplementary exposure in multinationals of heavy industry equipment, hospitality and consultancy sectors.

·         Demonstrated ability in streamlining business processes, identifying risks and mitigation.

·         Drives growth to increase efficiency in operations

·         Possess qualities and skills to establish excellent rapport across all levels of staff and management.

·         Ability to work and deliver in harsh environments against challenging deadlines whilst handling multiple projects.

WORK EXPERIENCE

April 2019 –       Al Yah Satellite Communications Company (YAHSAT), Abu Dhabi, UAE

Present              Associate – Internal Audit

A leading global satellite operator, fully owned by Mubadala Investment Company (MIC).

·         Support the planning/execution of engagements, concluding on effectiveness and efficiency of Internal Controls.

·         Recommending corrective actions, reporting results and ensuring proper follow up of corrective action is taken.

·         Adherence to Institute of Internal Auditors (IIA) International Professional Practices Framework (IPPF).

·         Appraise compliance with established company policies, procedures and with country specific applicable laws and regulations in existence.

·         Working with Consultant to coordinate the Internal Control Framework on Financial Reporting.

June 2015 –        Thuraya Telecommunications Company, Dubai, UAE

March 2019       Internal Auditor

Established in 1997 by ETISALAT, now a subsidiary of YAHSAT since June 2018, a leading mobile satellite communications company empowering people with tools to bring organizations and communities closer together.

·         Assist, plan, execute, report results of assignments carried out to superiors/executive management and carry out subsequent follow up of issues identified to ensure corrective action implemented.

·         Appraise adequacy of existing company policies, procedures and with country specific applicable laws, regulations in existence.

·         Identify potential cost savings, revenue corrections whilst recommending adequate controls to mitigate risks identified.

·         Assist the Head of Internal Audit in preparation of Audit Plan and Quarterly Audit Committee presentations.

Feb. 2015 –        National International Holding Company, Abu Dhabi, UAE

June 2015          Manager Internal Audit

Local private company dealing in real estate, property/facility management, travel, construction, education services.

·         Develop, plan, execute and report results of assignments carried out and issues of non-compliance to the CEO, ensuring corrective action taken to rectify errors/omissions.

·         Ensure compliance with existing policies and the preparation of new policies for smoother operations.

·         Reviewing existing Property Management System in use and providing suggestions for improvement.

·         Conducting random checks on occupancy of rented properties.

·         Handling key/important correspondence for CEO with outside parties (i.e. banks, investment houses, overseas property developers and interior decorators.

Sept 1994 –        Emirates Telecommunications Corporation (ETISALAT), Abu Dhabi, UAE

June 2014          Manager Financial Audit (See Achievements)

Leading telecom service provider in 15 countries across the Middle East, Asia and Africa to more than 200 million subscribers with a market cap of US$ 40 BN, Net Revenue of US$ 14.28 BN and Net Profit of US$ 2.34 BN.

·         Develop, plan, lead and execute financial/operational audit assignments for Etisalat Operating Companies (in Central African Republic, Cote D’Ivoire, Niger, Nigeria, Tanzania, Togo, Sudan and Afghanistan) ensuring compliance with existing country specific regulations, policies/systems of Internal Control whilst maintaining independence, objectivity and confidentiality, highlighting errors/mistakes in financial and operational transactions were rectified by the OpCo management.

·         Plan, lead and execute financial/operational audits assignments for Etisalat UAE and its subsidiaries (E-Vision, E-Marine, Enterprise Solutions, UAE Lab and Contact Centre) with an emphasis on Credit Control, Billing, Procurement, Inventory, Logistics, Material and Warehousing Management,  HR (Payroll, Recruitment, HR Strategy, Performance Management, Training etc.), Administration (Local and International Travel, Facilities and Fleet Management), Payables, where errors/mistakes in financial and operational transactions were rectified by the concerned management teams.

·         Reporting on all audit findings, consolidation of Group audit reports, outlining outcomes, issues and risks including financial and operational risk assessment to ensure Etisalat Group’s business interests are secured and safeguarded.

·         Review systems, processes, risks and controls underlying initiation, generation, compilations, management and reporting of financial information and records relating to accounting, revenue, credit control, expenses, assets, liabilities, investments, business development, international operations in order to ensure compliance with policies/guidelines and make suggestions for improvement

·         Managed the department’s administration work such as preparing budgets, referencing, archiving and backing up audit findings and reports including files/records being updated promptly on completion of audit assignments.

·         Carrying out quarterly periodic follow up to ensure that corrective actions recommended have been implemented by auditees.

·         Assisting the Vice President Financial Audit in the quarterly preparation of Audit Committee slides.

Oct 1990 –         United Tractor & Equipment Ltd, Colombo, SRI LANA

Sept 1994          Internal Auditor

Private LLC having the Caterpillar agency in Sri Lanka for nearly 80 years and agent for many other international brands namely Wilson Generators, Yamaha outboard motors, Mig Welding Equipment, FAIP Tyre Changing Equipment, Water Flow Meters, Water Treatment Plants etc.

·         Entrusted with re-starting the Internal Audit function at the company

·         Planned, performed, executed audit assignments and carried out follow up audits at UTE Equipment, its subsidiaries/associate companies of the UTE Group – UTE Projects, Ecological Systems Ltd and Radiant Gems International Ltd.

·         Communicated results to various stakeholders of the company including proving periodic status updates of the Audit Plan.

·         Performance of ad-hoc assignments/investigations for management which resulted in numerous cost saving measures for company and malpractices of some staff being highlighted where corrective action was taken.

Sept 1987 –        Hotel Lanka Oberoi (now renamed Cinnamon Grand), Colombo, SRI LANKA

Sept 1990          Senior Audit Supervisor

One of the earliest/largest five-star hotels previously owned by the Oberoi Chain in India and then managed by Asia Hotels Corporation, now managed by one of the islands’ largest conglomerates (John Keells Group).

·         Planned, performed and reported on periodic audits of Food/Beverage/Room revenues to management and hotel operator.

·         Reviewed and reported on functions and processes in Purchasing/Receiving, Human Resources and Administration, Security, Engineering, Sales, Marketing, Recreation Centre and Finance including Collections, Credit Control and Payments.

·         Assist the Chief Internal Auditor in preparing quarterly management reports for presentation to the owners/managers.

Dec 1980 –         Peat Marwick Mitchell & Co, Lusaka, ZAMBIA

Mar. 1986          Senior Audit Assistant

Big 6 global management consultancy firms in the 1980s providing assurance, consultancy, risk advisory and professional services.

·         Served as part of external audit team at various interim and final audits of various multinational companies based in Zambia many of which were within the LONRHO (London Rhodesia) Group of Companies that had stringent reporting deadlines.

·         Was also a team member for various local government enterprises/organisations, World Bank funded organisations, airlines, banks, oil companies, motor dealerships, hotels, farming enterprises, medical etc.

ACHIEVEMENTS (Selected)

a.       Revenue of approx. US$ 16M booked incorrectly which was subsequently corrected.

b.       Sales Commissions erroneously paid and corrected.

c.       Abuse of company credit cards subsequently recovered from staff.

d.       Errors in ageing of Inventory subsequently rectified. [a – d at Thuraya Telecommunications]

e.       Identification of properties rented where rentals were long overdue, rentals not revised in line with prevailing rates and instances of tenancy contracts not renewed in time – all of which were subsequently rectified.

f.        Payment of maintenance charges for damages caused not recovered from tenants prior to departure lead to more stringent exit procedures adopted. [e – f at National International Holding Company]

g.       Consistent achiever after joining ETISALAT as Asst. Internal Auditor in Sept 1994

§  Designation changed to Internal Auditor II in Aug 1995

§  Promoted to Internal Auditor I in Nov 2002

§  Promoted to Internal Auditor in Sep 2005

§  Job title changed to Financial & Operational Auditor in Mar 2007

§  Job title changed to Specialist/Finance & Operations Audit in Apr 2008

§  Transferred as Group International Audit Specialist in Oct 2009

§  Promoted to Manager Financial Audit in Aug 2013.

h.       Detected numerous billing irregularities which were subsequently rectified/reversed.

i.         Identified negative shareholders equity amounting to AED 46 Million and contract irregularities amounting to AED 14 Million at various Etisalat OpCos in Africa.  The contract irregularities were rectified.

j.         Identification of long overdue debt, irregular credit facilities, payments and unclaimed dues amounting to AED 12 Million which were rectified.

k.       Lead the preparation of the Global Whistle Blowing Policy at Etisalat Group.

l.         Assisted in obtaining the IIA Quality Assurance Certificate for Etisalat Group Internal Audit.

m.     Instrumental in organising the very first Forum for International Irregular Network Access (FIINA) in the Middle East hosted by Etisalat in 2003.

n.       Training of staff including new hires and Graduate Trainees on Audit and Risk Management for Etisalat and its OpCos. [g – n at ETISALAT]

o.       Identified rampant abuse of overtime policy and associated pay-outs subsequently streamlined, duplicate payment of sales commissions and detected numerous fraudulent activities carried out by some staff. [at United Tractor & Equipment Ltd]

QUALIFICATIONS & OTHER

·         Chartered Institute of Management Accountants, UK – completed the Certificate (May 1984), Operational Nov 1985), Management Levels (May 1988) and two papers in the Strategic Level (May 2002).

·         Chartered Association of Certified Accountants, UK – completed Level 1 (June 1986).

·         Member of the Institute of Internal Auditors, USA.

·         Certified user of TeamMate™ Electronic Work papers.

·         User of ACL GRC (Governance, Risk Management and Compliance) Electronic Work papers

OTHER INFORMATION AND INTERESTS

·         Represented Royal Junior School, Colombo at cricket at Under 12 level, Peat Marwick Mitchell & Co. (Lusaka) in the Zambia Cricket Union run Saturday league tournament between 1982 – 1986 and Nondescripts Sports Club (Lusaka) in the Zambia Cricket Union run Sunday league tournament between 1980 – 1986

·         Sports, Travel, Wildlife, Philately, Music and an avid reader.

·         Volunteered at various events in the UAE – distribution of water at Labour Camps in Dubai, Iftar set up at the Sheikh Zayed Grand Mosque in Abu Dhabi and most recently at Institute of Internal Auditors, International Global Conference held in Dubai in May 2018

REFERENCES

1.    Ajith Hemasiri,

Vice President Information Systems & Technology Audit

ETISALAT, Abu Dhabi

[email protected]

971 50 4456034

2.    Zainulabidin Qureshi

Head of Financial Audit (ex – Head of Internal Audit at Thuraya Telecommunications Co)

Du

[email protected]

971 55 9533876

3.   Mansoor Gaffar

Head of Internal Audit

Intigral, Dubai

[email protected]

971 52 9800877

PERSONAL DETAILS

Date of Birth      14 Oct 1958

Marital Status    Married

No. of children   3 boys (22, 17 and 13)