Chartered Accountant professional with 15 years of diversified experience, well-disciplined with proven ability to manage multiple assignments efficiently under extreme pressure while meeting tight deadline schedules. I am confident in my ability to provide accurate financial data to stakeholders and to work collaboratively with colleagues to identify and implement strategies that improve financial performance. Some of the key achievements are as follows:- Internal Audit and Controls implementation- Financial Reporting, Group Consolidations, VAT & Taxation - Budgets, Forecasts and Variance Analysis Reports- Setting up Finance function from scratch & Startups- Spearheaded multiple software implementations including ERP Oracle NetSuite- Member of key management committees (Lease, Procurement, Facilities, IT, Strategies & development)- Non-Executive Director for Tax Consulting firm (Denetim UR LLC) within Group- Enterprise Risk Management in Tax Administration Course holder managed by IMF & VITARA
Emirates Properties Group - R Holding - Middle East And Uk
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Financial ControllerEmirates Properties Group - R Holding - Middle East And Uk Aug 2015 - PresentAjmanEMIRATES PROPERTIES is a highly regarded, multi-faceted business Group based in UAE. Group’s diversified business portfolio primarily includes businesses such as Real Estate Construction & Development, Facility Management, Rental Management, Hospitality & Leisure. Specific responsibilities for my role include:- Fund management, negotiations with bankers and supervising the project financing.- Monitor and review construction development contracts to ensure project budgets are accurate.- Preparation of Monthly Consolidated Financial Reports and Other Group MIS Reports.- Reviewing the cost base for possible reductions in operational costs continuously.- Participate in the overall process of management and decision-making within the company to contribute to its long-term development.- Participation in the preparation of company budgets and approvals.- Preparation of variance analysis reports periodically for all the buildings & hotels. - Review and submission of VAT Returns along with detailed VAT Statements. - Prepare information memorandums, reports, and presentations for potential investors.- Reconciliation of Inter-Company, Bank & Trade Creditors/Debtors.- Arranging key insurances to cover the associated risks (PAR, TPL, WC, Group Life and Medical etc.,)- Review of Lease agreements for compliance with the Ajman Real Estate Regulatory Agency (ARRA)- Supervise the Annual Financial Audits and ensure Group Compliance with relevant IFRS.- Managing Cash Flow regularly and Reviewing CAPEX spending vs budget. - Hand-on experience in the implementation of ERP and Facilities Management software.- Representing Finance Team in the contract bidding process for various Construction & Facility management projects.
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Senior - Audit & AssuranceCrowe Mar 2014 - Aug 2015Dubai - UaeCrowe Horwath International ranked among the top 10 global accounting networks with more than 140 independent accounting and advisory services firms with 640 offices and nearly 28,000 professionals and staff in more than 100 countries around the world. Specific responsibilities for this role include:- Conducted external audits of companies and firms in accordance with international standards on auditing.- Group audit of consolidated financial statements of multinational companies as per ISA.- Individually handled accounts of many multinational companies, firms & concerns till finalization.- Agreed upon Procedures Engagements, Forensic assignments and on-demand Certificates.- Carried out internal control audits in various organizations. Monthly reporting on internal controls and performances to the management of the client.- Rejuvenated finance and IT processes and introduced new standard operating procedures which eradicated the risk of duplication, and reduced errors and month-end reporting. - Spearheaded the design and implementation of effective internal controls at the organization level regarding budget analysis and forecasting, inventory, receivables, payables and other financial transactions.- Monitoring and evaluating the effectiveness of the organization's risk management processes.- Took part in training clients on various issues related to finance accounts and internal controls. -
Manager Accounts & FinanceNishan (Pvt) Limited Jul 2012 - Jan 2014Lahore - PakistanNishan (Private) Limited is an emerging company executing a diverse portfolio of construction projects in various sectors Retail and infrastructure. Specific responsibilities for this role include:- Prepare accurate and timely financial statements, including balance sheets, income statements, and cash flow statements. Ensure compliance with accounting standards and regulatory requirements.- Develop and manage budgets in collaboration with other departments. Forecast future financial performance based on analysis of past data and current trends.- Manage cash flow to ensure the organization has adequate liquidity to meet its operational needs and financial obligations. Monitor cash flow forecasts and optimize cash utilization.- Develop tax strategies to minimize tax liabilities while ensuring compliance with tax laws and regulations. Coordinate with tax advisors and authorities as necessary.- Communicate financial information and insights effectively to stakeholders, including senior management, board of directors, investors, and external auditors. Interpret financial data clearly and concisely.- Build and maintain relationships with banks, financial institutions, investors, and other external partners to support the organization's financial objectives and facilitate access to capital.
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Audit SeniorRiaz Ahmed & Co. Chartered Accountants - Nexia International Nov 2008 - Jul 2012Lahore, Punjab, PakistanThe origins of Riaz Ahmad & Company stretch back as far as 1956 and, through successful growth; the firm today is a strong and independent practice with four offices in Pakistan and a member of "Nexia International". Specific responsibilities for this role include:- Successfully managed audits of listed & unlisted companies, partnerships, limited companies, and non-profit organizations. Maintained excellent client relationships and presented a favorable impression of the firm. Key industries include Textile, Sports, Energy, E-commerce, Retail & Fashion, Agriculture, and Banking sectors.- Income Tax and Sales Tax Audits of proprietary concerns, firms, and companies.- Preparing Income Tax Returns and Tax deducted at source returns.- Prepared financial & taxation models and proposed investments to the clients.- Performed due diligence for the clients’ business processes resulting in improving the value of companies.- Identified red areas with no appropriate controls and passed recommendations for weaknesses noted to improve operational efficiencies.- Spearheaded various ongoing internal audit assignments and reported periodically on the same.
Frequently Asked Questions about Umar Farooq - Aca
What company does Umar Farooq - Aca work for?
Umar Farooq - Aca works for Emirates Properties Group - R Holding - Middle East And Uk
What is Umar Farooq - Aca's role at the current company?
Umar Farooq - Aca's current role is Chartered Accountant | Financial Controller | IFRS | VAT & Taxation | Group Reporting & Consolidation | Enterprise Risk Management for Tax Administration | Budgeting | Financial & Data Analytics | Power BI | Startups.
What schools did Umar Farooq - Aca attend?
Umar Farooq - Aca attended Institute Of Chartered Accountant Of Pakistan, Hailey College, The Punjab University, Lahore, Edx.
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Umar Farooq -
Ex Deputy Manager Accounts & Finance Borjan| Accountant @ Spectrum Uae Ltd | Cma (Finalist)| 10+ Years Of Experience In Accounts And Finance| Microsoft D365 Implementation| Optimization Of Accounts And Finance Functions|Dubai, United Arab Emirates -
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Umar farooq Shaik
Experienced Relationship Officer At Adcb Bank | Former Cabin Crew Manager With 10+ Years Of Leadership In AviationDubai, United Arab Emirates
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