Accounting Financial
Resume:
LIM Yong Hong
A self-reliant & objective-oriented working professional with 3-year audit experience in multiple industries including insurance, banking and aviation industry.
Mobile no.: +601*-****-*** Email address: adlbmh@r.postjobfree.com WORK EXPERIENCE
Senior Associate: EY, Kuala Lumpur - Assurance Department (Financial Services) August 2017 – Current Financial Accounting Advisory Services engagement – MFRS 9 Validation
• Constructed regression models to estimate the expected probability of default and loss given default for global and Malaysia’s bonds market.
• Reviewed the migration table for various insurance receivables portfolios to ensure the integrity of data used in deriving the expected credit losses.
• Quantified the financial impact of expected credit loss in investments and insurance receivables. Audit engagement – Insurance industry
• Formulated audit strategy for the engagement for Day-1 one-off transaction’s financial reporting (acquisition of an insurance portfolio from dissolved company) which involved key matters such as valuation of actuarial liabilities, review completeness of data, management assumption on recognition of one-off management fees and measurement of other liabilities.
• Liaised with management and in-house actuary to perform and review valuation on the actuarial liabilities
(provision, IBNR and URR).
• Prepared the Audit Committee Report for presentation of audit findings on the integration of actuarial data and the change in business practice post-acquisition.
• Advised client on the implementation of new accounting standards – MFRS 16, which involved assessing the scope of the new accounting standards, constructing financial models to determine incremental borrowing rates and reviewing management assumptions.
• Implemented digital automation strategy to send and receive confirmations to overcome physical restriction due to COVID-19.
Audit engagement – Banking industry
• Completed the audit of two public-interest entities within two months with the assistance of three associates and direct reporting to the engagement partner.
• Led a team of six people to complete the audit by providing guidance to the teammates in resolving audit issues, as well as interim and final feedback to improve individual and team performance.
• Implemented digital audit to enhance the effectiveness of audit risk assessment and results in multiple audit findings on client’s financial statement close process
• Presented the audit strategies on addressing key risk areas and audit issues to the engagement partner.
• Prepared the Audit Committee Report for presentation of significant accounting issues and audit findings.
• Prepared the management recommendation letter with new audit findings and obtained concurrence from various senior management of client.
• Reviewed BNM reporting package prepared by client to ensure accuracy of information in accordance to BNM regulatory and submission requirement.
• Prepared audit working papers on significant accounting matters such as ECL, provision for taxation and deferred taxation, impairment assessment on intangible assets, and lease accounting.
• Conducted impairment assessment for both listed and non-listed companies, which involved evaluating management assumptions such as projected financial results and estimation of WACC in the financial model. Audit engagement – Aviation industry
• Advised client on the accounting treatment and conducted impact assessment for the proposed Regulatory Asset Based Framework, particularly on the proposed change in the user fees made by MAVCOM. Page 2 of 2
• Conducted audit planning including preparing the Audit Planning Memorandum, and formulating and presenting the audit strategy at the team planning event.
• Liaised with five component audit teams from overseas offices to review the deliverables and assess the impact of reported findings including impairment assessment on the deferred tax asset and goodwill of the overseas subsidiaries, to the group audit
• Advised client on making the numerous estimates such as Airline Incentive by extracting the master data and preparing the template to calculate the provision.
• Advised client on the assumption used in units of production depreciation model which involved modelling various airport capacity across Malaysia.
• Audited and improved the quality of financial statements of various disclosures such as fair value measurement, defined benefits pension plan and revenue (implementation of MFRS 15). Reporting accountant – Cross-border transaction (China and Japan)
• Mediated with client’s senior management and EY’s overseas office to obtain concurrence on the issues identified in the GAAP difference review letter.
• Liaised with PRC’s Ministry of Finance to complete the registration of EY as an overseas accounting firm.
• Prepared the Consent Letter and Comfort Letter, and determined financial figures on which the firm could provide assurance.
• Coordinated with the underwriters to drive the engagement’s progress and reconciled with the client’s various divisions to harmonise the expansion of scope of assurance. Other responsibilities
• Prepared proposal to bid for one of the largest bank’s audit and tax engagement and computed the proposed fees which involved component works to be conducted by 12 overseas offices.
• Promoted EY in a career fair and assisted in the organising of student engagement sessions by drafting event itinerary, designing case study and being emcee.
Vacation Trainee: KPMG, United Kingdom - Assurance Department (Financial Services) July – August 2016
• Analysed client’s product portfolio to evaluate the credit risk involved and assessed the adequacy of disclosures made in the financial statements.
• Performed audit on various line items (other expenses, cash and cash equivalent, property and equipment, etc.) in the financial statements, with five years of comparative figures as part of the IPO exercise. Vacation Trainee: EY, Kuala Lumpur - Assurance Department July – August 2015
• Completed audit working paper with limited guidance and liaised with clients to conduct walkthrough and test of controls.
EDUCATION
Institute of Chartered Accountants in England and Wales (ICAEW) September 2017 – July 2020
• Completed all 15 ACA papers at the first attempt with an average mark of 80.2. Warwick Business School, University of Warwick, UK September 2014 – July 2017
• BSc Accounting and Finance: First Class Honour
• Modules: Derivatives and Risk Management, Econometrics, Banking and Financial System, Financial Reporting, etc.
SKILLS AND AWARD
Technical Skills: Microsoft Excel (Advanced), GL Analyser, Power BI and STATA Languages: Fluent in English, Malay and Chinese
Award: Full tertiary education scholarship by Public Service Department of Malaysia (JPA)
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