Sarmad Bin Wasim Email & Phone Number

Karachi Division, Sindh, Pakistan

SBP is the Central Bank of Pakistan. Here I am responsible for leading preparation of financial statements of a Special Purpose Vehicle of Government of Pakistan - INPCCL - with investors’ pool size worth over USD 700 million. Additionally, I am supervising the preparation of financial statements of Employees’ Retirement Funds. All the financial statements I prepare comply with IFRS. I also actively advise management on the best accounting and financial reporting practices.While leading coordination of all relevant internal and external audits, and meeting relevant deadlines, I manage all board and secretarial work, such as preparation of agendas, and meeting minutes and notices. I also ensure fulfilment of all legal compliances including filings to the Securities Commission.My operational responsibilities include:• Ensuring accurate bookkeeping of day-to-day operations of various government entities, and their monthly, quarterly, and annual closing of books of accounts.• Identifying operational and control risks and implementing adequate control measures.• Forecasting INPCCL’s income and expense, and budgeting for its cash management.I also proposed and led the following:• Development and implementation of a mechanism to accurately calculate, and distribute, accumulated profits of Employees’ Retirement Funds at SBP. The mechanism benefited all of its members since its inception in 2008 and distributed profits of over Rs 1 billion.• Development and implementation of a management reporting system, that summarizes the performance of INPCCL investor pools, their profitability, and weighted average cost of funds.• Cross Functional Team (CFT) for automation of securities issue, redemption, and profit calculation for INPCCL, including its impact on foreign currency revaluations.• CFT for development, of Chart of Accounts of INPCCL, with its security issuances mechanism.• CFT for revamping of reporting, and record maintenance procedures of employees’ funds.

Karāchi, Sindh, Pakistan

My initial appointment at SBP was as a contractual employee, with designation of Deputy Manager. Later, owing to satisfactory performance, I was made permanent in SBP and was made Deputy Director. My responsibilities in each role were same in nature and are mentioned above.

Karāchi, Sindh, Pakistan

BPPL is biggest oil refinery in Pakistan, with one of the fastest growing oil marketing networks. At BPPL I independently planned and executed complete audits with direct reporting to the Head of Audit. BPPL had a very closely knit team, and obtaining and incorporating constructive criticism from the rest of the audit colleagues helped obtain perfection, as far as possible, in all audit reports.Areas Audited / Other Assignments:• Marketing / Network Development - Audit• Procurement pre-audits• Review and Updating of Budgeting and Finance, SOPs and policies, including SAP utilization

Karāchi, Sindh, Pakistan

FHM is the biggest Islamic Leasing Financial Institution of Pakistan. Being the acting Head of Audit I was responsible for its complete audit cycle. I devised risk based annual internal audit plans and drove my team towards a common goal of organizational improvement and efficiency. The key position of Head of Audit also called for synergizing and addressing demands of Board of Directors, Audit Committee, and departmental heads while managing follow-up compliance audits.Areas Audited / Other Assignments:• Human Resources Department – Audit • Ijarah and Musharakah pre–audits• Compliance Audit of Code of Corporate Governance, and Modaraba Regulations

Karachi

PSPC is the Central Bank-Note Printing Corporation of Pakistan. At PSPC I conducted financial, compliance, and operational audits in line with the guidance of The International Professional Practices Framework (IPPF), IFRS, and relevant laws. While finding audit observations supported by concrete evidences, analytical or otherwise, I also supported managers in performing risk assessments, root cause analysis, and audit quality control.Developmental Proposals:• Audit’s Departmental Independence• Quality Assurance and Improvement Program• Procurement Process Re-engineering• Quality Control Effectiveness ReviewAreas Audited:• Information Technology (IT) Department• Human Resources (HR) Department• Outsourced HR Services• Production Department• Quality Control Department• Stock Management• Cost Accounting and Cost Management• Procurement Department

Karachi, Abu Dhabi And Dubai

At EY I demonstrated great potential in statutory audits and client dealings, hence, was given the opportunity to work with EY’s Karachi, Abu Dhabi and Dubai offices and led audit teams for various national and international clients. I performed statutory audits following International Standards on Auditing (ISAs), IFRS, and other applicable Generally Accepted Accounting Principles (GAAP). I also led teams for performing various agreed upon procedures such as audit of international donor projects.Industries Audited:• Research, Manufacturing and Marketing concerns in Pharmaceutical industry• Non-governmental Organizations (Foreign reporting projects)• Not for profit organizations and trusts• Manufacturing concerns for Consumer and Industrial Engineered goods• Financial institutions• Hospitality industry• Telecom developmental and service industry• Construction and Real Estate

Master Of Business Administration - Mba, Business Strategy And Management, Cgpa 3.48

Cia, Internal Audit

Credential ID: 2103292

Member, Finance, Accounting And Audit, Cleared All Papers In 1St Attempt; And Have 3 Nation-Wide Distinctions.

Credential ID: 3562843

Bachelor Of Science Honours - Bsc (Hons) In Applied Accounting, Applied Accounting, First Class Honors

Ca - Intermediate, Accounting And Related Services, Finalist