Muhammad Farooq

at Descon Engineering Limited
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Contact Information
us****@****om
(386) 825-5501
Location
Dubai, United Arab Emirates, AE

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Experience

    • Pakistan
    • Construction
    • 700 & Above Employee
      • Jul 2022 - Present

       Descon is Pakistan’s leading Group operates in Engineering, Construction, Power, and Chemical sectors. Descon has presence in Pakistan, Middle East & Africa. I am heading a Reporting & Compliance cartelised department, which provides financial planning, budgeting and reporting services to all the divisions and business units situating across the globe. I am heading the compliance function for internal manuals, policies, and regulators’ requirements. My key achievements here:Financial planning strategic brief presented to Board for domestic business macro-economic challenges and recommendation on geographical diversity. Corporate tax planning for UAE operations. Implemented budgetary controls over project margins with defined matrix of authorities to keep the management aware for any significant variation in future profitability.My core responsibilities are:• Financial Planning, analysis, and budgeting: Monitoring of financial KPIs is core strength where we analyse and evaluate divisional performance in terms of qualitative benchmark. • Financial Reporting: on forecasting to ensure best practices with Group’s policies while making strategic and operational decisions. • Compliance with Regulators monitoring of taxation in sales and income tax and Pakistan and VAT and corporate tax in UAE & Qatar. The compliance with PSX & SECP in Pakistan. • Treasury: Managing business financing needs and investment portfolio. • Management Reporting: Reporting on project evaluation, cost optimisation, bid reviews and operating cash flows. Review of internal controls including audit plan and risk KPIs.• Projects Financial business partnering, Commercial finance, Bid assumptions evaluation, budgeting, Cost controls & revenue recognition. Show less

      • Apr 2017 - Jul 2022

      My core responsibilities were:• Accounting & Finance function of our entire member companies is operated through this department. We are providing services of bookkeeping, financial reporting, budgeting, and centralized treasury.• Compliance with internal policies to ensure the best practices and compliance with the Group’s policies while making strategic and operational decisions.• Compliance with regulators monitoring of taxation and other regulatory requirements like VAT in UAE, PSX & SECP in Pakistan. • Management Reporting on financial performance and internal controls including audit plan and risk KPIs.• Coordination with external and internal auditors.• Management of GL and all Sub-ledgers through Oracle & SAP FICO.• Process Digitization online payments, automation, and system-based reporting. Show less

    • Pakistan
    • Appliances, Electrical, and Electronics Manufacturing
    • 700 & Above Employee
    • Manager Accounts
      • May 2012 - Apr 2017

      My core responsibilities were; • Financial Reporting and annual audits. Active team player in the development and implementation of Oracle Financial • Managing the work of general accounting team • Dealing with banks for arrangement of finance, as a merchant and for usual banking. • Overseeing financial affairs of the group companies • Reviewing and finalizing monthly financial statements along with analytical reports • Dealing with all corporate compliance related matters • Looking after budgeting & targets setting for different departments • Developing & implementing risk based internal controls system Show less

    • Manager Accounts & Finance
      • Dec 2008 - Apr 2012

       As Manager Accounts & Finance (reporting to CFO & CEO) responsible for the overall management, controlling and supervision of all accounts and finance related matters of the company.  Following were the core responsibilities: Preparation of feasibilities for new projects Centralized Cash Flow management  Presentation of monthly and annual financial statements Analytical review of financial statements and presentation in BODs  Dealing with all Income Tax and Sales Tax matters  Dealing with all corporate compliance matters. As Manager Accounts & Finance (reporting to CFO & CEO) responsible for the overall management, controlling and supervision of all accounts and finance related matters of the company.  Following were the core responsibilities: Preparation of feasibility for new projects Centralized Cash Flow management presentation of monthly and annual financial statements Analytical review of financial statements and presentation in BODs Dealing with all Income Tax and Sales Tax matters Dealing with all corporate compliance matters Show less

    • United Kingdom
    • Accounting
    • 300 - 400 Employee
    • C A Ariticleship
      • Nov 2004 - Nov 2008

      Completed four years of articleship in Audit and Assurance Departments of one of the country’s leading firm, Riaz Ahmad & Company, Chartered Accountants, Lahore (A member firm of NEXIA INTERNATIONAL). During the tenure following were some of the prime experiences that were acquired Managing, planning, reviewing and executing financial audits of various manufacturing, banking and service concerns. Prepared advises for orgainsations on various accounting and related matters in prepration of financial statements for compliance of local statutory requirements and International Financial Reporting Standards. Gained knowledge in designing and implementing accounting and releated internal control system. Analysed the system of internal controls both manual and computeriesed specially in ERP environment, and recommendations for improvements. Finalized audits in compliance with statutory requirements. Show less

Education

  • The Institute of Chartered Accountants of Pakistan
    Chartered Accountant, Accounting and Finance
  • B.Com from Hailey College of Commerce PU Lahore
    Bachelor of Commerce, Accounting, Auditing & Statistics
    1998 - 2000

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