Mirza Shafique Baig

During my tenure, I successfully led the planning and execution of multiple risk-based audit assignments, adhering to the International Professional Practices Framework (IPPF). The audit planning phase involved a comprehensive assessment of core risk areas using the IPPF framework, enabling us to effectively prioritize high-risk processes and areas. Based on this risk assessment, we developed a robust risk-based audit plan.

I conducted kick-off meetings with departmental heads and key stakeholders to align expectations, discuss the scope, and ensure cross-functional cooperation. This also included resource planning to allocate the right team members, with appropriate skill sets, for each audit engagement.

Throughout the audit execution phase, I:

• Led the audit team, and reviewed and approved audit procedures.
• Ensured that working papers were prepared in accordance with internal standards, and supported by appropriate audit evidence.
• Maintained compliance with audit methodology and risk-focused approaches.
• Provided guidance and support to team members during fieldwork.

On a quarterly basis, I was responsible for preparing audit reports and presentations using PowerPoint for Board-level review, highlighting key findings, root causes, and value-adding recommendations.

Additionally, I led monthly stock count activities, performed cash and bank reconciliations, and reviewed local sales transactions and import/export bills to ensure accuracy and compliance with internal controls and policies.

A critical component of my role included performing pre-audit checks on monthly payroll. This involved reconciling and validating all salary components and employee benefits processed by the HR department before disbursement to ensure accuracy, authorization, and compliance.

Key Risk-Based Audits Executed:

• Risk Management: Expertise in identifying, assessing, and managing financial and operational risks.
• Internal Controls: Proven ability to evaluate and enhance internal control frameworks for optimal governance.
• Strategic Audit Planning: Skillful development of comprehensive audit plans to ensure thorough risk coverage.
• Data Analytics for Auditing: Proficient use of data analytics tools to enhance audit depth and precision.
• Regulatory Compliance: An in-depth understanding of branch banking and the implementation of regulatory frameworks to ensure adherence.
• Process Optimization: Experience in documenting and optimizing internal processes to increase efficiency.
• Fraud Examination: Proficient in conducting investigations to detect and mitigate potential fraud risks.
• Detailed Reporting: Strong capability in preparing detailed audit findings and actionable recommendations.

• Key clients including:
• Hilal foods distribution audits (Mainly distributions cover from khot to Raheem yr Khan).
• Sanofi aventis pharmaceutical Pvt Ltd Assignment (warehouse, finished goods and WIP audit including inventory count...sheet to floor plus general observation).
• OMI hospital assignment (fixed asset tagging and general observation of the assets condition).
• Commes educational trust (performed quarterly audit cover fixed asset head, Procurement and Repair & maintenance).
• UBL insurers (performed Quarterly audit in which I have covered head's of underwriting, HR or financial reporting).
• Jiye technologies B2B Agri marketplace (Did all the finance work, cash handling work).