Financial Fraud Investigation and Reporting

Saud Bahwan Group occupies the pre-eminent position of the largest distributor of automotive products in the Sultanate of
Oman and leads the rapid development of automobile business in Oman.

Key Attainments
* Delivered a recurring saving of US$ 500000 p.a. through an analysis on the impact of Natural Rubber price reduction (Raw
material for tyre manufacturing) on the inventory, resulting in preparing a strong case for the business heads to take up with
the suppliers for financial support/reduction in tyre import price
* Instrumental in the liquidation of slow and non-moving items, working with a significant supplier for one time return acceptance
(in addition to the annual parts returns), resulting in realization of US$ 375.000
* Implemented uniformity in discount control mechanism resulting in positive growth in gross margin by 1%; subsequently
identified the control lapses in the above and initiated corrective measures
* Key member of the "company-wide cost reduction" initiative to explore avenues for cost reduction and efficiency
* An active member in the project team which reviewed the optimization of human resource

Financial Analysis
* Synthesize financial statements, financial plans, accounting records, operating records, budgets and other information, and
provide recommendations for financial improvement and trended future requirements




* Collaborate with the leadership in compiling reports and preparing budgets
* Provide actionable; forward-looking variance analysis focused on key business drivers
* Provide detailed explanations of the monthly financials, P&L, proposed budgets, forecasts and strategic plans, assuring
accurate capture of costs and accruals as needed
* Perform ad hoc analyses including deep dive cost studies and strategic business cases, fraud investigations and risk
assessments supporting the management in developing initiatives to drive growth and improve profitability in a risk & fraud
free environment.
* Analyze the financial impact of operational changes on budgets and report to senior management
* Support Business Heads in controlling costs via cost and planning analysis specific to the department

MIS Reporting
* Provide monthly financial analysis reports and assist with departmental and inter-company financial reviews
* Prepare and articulate forecasts and analysis as per the directive of the management
* Identify and Report areas for process and efficiency improvements including inventory ageing and liquidation, human
resources review, productivity analysis working with all levels of management to drive change
* Provide periodic reports on risk assessment with recommendation on better control measures and
* Case to case report on fraud investigation and findings
* Report on the ROI that the organization obtains in all its activities with special regard to economy, efficiency and effectiveness

Internal Audit Functions
* Develop and execute annual and long-range audit plans that address critical risks and areas of concern with internal controls,
operational efficiencies and/or compliance with regulations, policies and procedures
* Direct the compliance, operational and financial audits by auditing standards; prepare/review work papers and audit reports
* Review legislation and regulations to initiate changes and ensure that financial and operational policies and procedures
support compliance, thereby strengthening management and fiscal controls
* Provide risk management, operational and/or information technology internal audit services
* Participate in cross-functional project teams to review critical business processes to assess control weaknesses and suggest
& implement corrective actions
* Analyze the operational flow of various business verticals, carrying out compliance audit abiding by the SOP
* Communicate results of audits through written reports and oral presentations to management
* Review business results based on financial statements & qualitative aspects and report to the Management
* Establish and maintain systems and controls that verify the integrity of all systems, processes, and data
* Leverage knowledge of US GAAP and other accounting regulations and guidelines
* Review and provide clearance for proposals of staff incentive schemes and payouts

GEA is currently BGR Energy Systems, and during the tenure, was reporting to the Senior Manager Costing.
Highlights
* Approved PO & payment after screening through budgetary control procedures for all Group companies and Divisions
* Conducted a periodical review of project budgets and supported the preparation of corporate budgets
* Provided budget Vs actual statement reports for concurrent projects on a periodical / ad hoc basis
* Ensured that all Project Budget heads have comparable actual data to ensure corrective action
* Coordinated with external auditors and ensured timely completion of stock verification