Internal Audit Real Estate

Rajesh Mehta

ACMA, M. Com, CIA, CISA, CRMA, CFE and CRBA

Muscat, Sultanate of Oman

Mobile / WhatsApp No.: +968-********

Email: ******.*****.****@*****.***

Profile Summary

Strategic Professional with over 26 years of rich expertise in Internal Control & Internal Auditing and Risk Control Management activities within time and cost parameters across NBFCs, Travel, Tours and Logistics, Investment, Insurance, Hotels, Real Estate, Projects, Construction, Contracting, Mining, Media, Manufacturing, Agriculture, Trading and Dealership, FMCG and Distribution etc. (refer Annexure below)

As a Group Head managed the Internal Audit Department, ensuring appropriate audit strategies are in place and are acted upon according to priorities, enhanced productivity of Internal Audit Department

Front-led major role in coordinating internal audits; completing audit assignments within time, budgets and calendar schedules while managing multiple tasks; contributing to achieving cost savings through Financial & Operational Audits

Successfully persuaded implementing ERP project in Muscat Overseas Group due to which efficiency improved in various business processes

Implemented Internal Audit Management Software and Audit Analytics software (ARBUTUS) for continuous control monitor in Muscat Overseas Group

Achieved cost reduction of INR 4 million p.a. and refund of INR 3.5 million by performing Energy Audit; saved OMR 220-K p.a. through various audit recommendations

Experience in External Quality Assessment of Internal Audit departments and Board Performance Appraisal of listed companies in Oman and preparing policies and procedures manuals

Effective leader with excellent motivational and employee engagement skills to manage multi-geographic and culturally diverse teams and sustain growth momentum while motivating peak individual performances

Professional Experience:

Director – Risk Advisory and Consulting, November 2020 to Present

Moore, Oman

Handling a team of 14 auditors consisting of Managers, supervisors, Sr. auditors and auditors. Reporting to Partner. Clients portfolio include a total of 28 internal audit clients, 3 secondment clients and various one-time consultancy assignments. My job responsibilities include as under:

A)Business Development

●Prepare Business proposals for Internal audit and Risk Advisory services

●Attend meetings with prospective clients to discuss on Proposals

●Review Engagement Letters

B)Monitoring Quality of Engagements

●Ensuring quality of audits as per the firm’s and international auditing standards

●Review Audit Planning and staff allocation to various clients

●Understand business operations of clients and review risk assessments and risk-based annual audit plans

●Secondary review of Audit Programs, work papers, draft reports and final reports

●Participate in Audit closing meetings to discuss audit findings with management team

●Presentation of key audit findings to Audit Committee / Directors.

●Monitor and follow up on the implementation of open observations

●Review consulting assignments related to External Quality Assessment of internal audit departments, Performance Appraisal of Board of listed companies, policies and procedures manuals, Annual KPIs achievement review etc.

C)Staff recruitment, monitoring and development of staff

●Undertake second interviews of staff to be recruited

●Identify training and development priorities and ensure that staffs are adequately skilled to meet the future requirements of the department

●Undertake annual staff performance appraisals

●Manage activities of the internal audit team and obtain feedback regarding audit satisfaction from clients.

Group Head of Internal Audit, March 2013 to July 2020

Muscat Overseas Group, Oman

●Set up an internal audit department in the group. Prepared Internal Audit Charter and policies and procedures for implementation of audit recommendations

●Automated internal audit processes by way of implementing Internal Audit Management Software in Muscat Overseas Group and initiated implementing Audit Analytics software (ARBUTUS) for continuous control monitoring

●Preparing / reviewing various policies and procedures manuals like Real Estate, Accounting, HR, Authority Matrix etc.

●Carrying out / reviewing Risk Assessments of various group companies and preparing risk-based internal audit plans

●Getting executed various internal audits from the audit team members, guiding them to carry out internal audits, review their work and draft reports, review management responses and issue final reports and executive summaries

●Reporting to Vice chairman of the group; presentation of major audit findings to Vice Chairman and senior management

●Rigorous follow-up of implementation of earlier observations / recommendations

●Assist / facilitate management in implementation of internal audit recommendations

Previous Work Experience:

●Feb 2008 to March 2013 with Moore Stephens, Oman as Manager – Internal Audit

●March 2005 to Feb 2008 with Mohsin Haider Darwish as Audit Executive

●Oct 2001 to March 2005 with Venkateshwara Hatcheries Group, Pune, India as Asst. Manager – Internal Audit

●Jan 1998 to Sep 2001 with Kirloskar Oil Engines, Pune, India as Commercial Trainee

Notable Accomplishments across the Career:

●Instrumental in implementing the system to ensure collecting group receivable before paying to suppliers

●Improvement in rental income by bringing employees in the group properties

●Mitigation of Data integrity risk by identifying transaction deletion access rights given to employees

●Concrete cost saving of OMR 220K p.a. through various audit recommendation

●Risk mitigation by identifying certain properties not covered in insurance policies

●Instrumental to establish controls over fixed assets of OMR 4 million

●Instrumental in implementing ERP project in Muscat Overseas Group due to which efficiency improved in various business processes

●Improved top and bottom line of one of the divisions of a branch at MHD

●Improvement in receivable collection in various group companies

●Cost reduction of INR 4 million p.a. and refund of INR 3.5 million by carrying out Energy Audit

●Cost savings in areas like Telephone & Mobile expenses and Gensets usage

Education

Qualifications

Year

Board / University / Institute

AICWA (Membership No.M-24437)

2003

ICWAI, Kolkata (India)

Post-Graduation (M.Com.)

1995

Pune University (India)

Graduation (B.Com.)

1993

Pune University (India)

CIA (Certified Internal Auditor)

2010

IIA, United States

CISA (Certified Information System Auditor)

2012

ISACA, United States

CRMA (Certification in Risk Management Assurance)

2015

IIA, United States

CFE (Certified Fraud Examiner)

2016

ACFE, United States

CRBA (Certified Risk Based Auditor)

2020

London School of Business and Finance, UK

Membership of professional bodies:

●An Associate member of the Institute of Cost Accountants of India (ICoAI)

●A member of the Institute of Internal Auditors (IIA) - USA

●A member of Information Systems Audit and Control Association (ISACA) – USA

●A member of Association of Certified Fraud Examiners (ACFE)

Skills

●Strong business acumen and high application of common sense

●Able to work from home effectively

●Analytical abilities and process improvement

●Planning, organizing and prioritizing

●Good relationship builder

●Track record of leadership and ability to stand behind tough decisions

●Passion for improving the business and building high quality staff

●Excellent oral and written communication.

Personal Details

Date of birth

5 July, 1972

Sex

Male

Driving License

Obtained in Muscat on 18 Oct 2006

Hobbies

Playing Table tennis, watching cricket, music, movies

LinkedIn:

www.linkedin.com/in/cma-rajesh-mehta-28b20914

Sector wise clients handled

Internal Audit Clients

Manufacturing Sector

Al Jazeera Steel Products Co SAOG

Reem Batteries & Power Appliances Co SAOC

Muscat Gas Co SAOG

National Mineral Water Co SAOG

Areej Vegetables Oils & Derivative Co SAOC

Oman Textile Holding Co SAOC

Darwish Polycon LLC

National Aluminium Products Company SAOG

Akzo Nobel Oman SAOC

National Detergent Co SAOG

Oman Methanol Co LLC

Service Sector

Amakan Sohar LLC - Saada Hospital

Omani Gulf Food Co. SPC (OGF)

Muscat Stock Exchange & Muscat Clearing & Depository (MCD)

Mubadrah Comprehensive Service LLC

Shumookh Plastics Products LLC

A’Saffa Logistics LLC

Special Oilfield Services Co LLC

Al Madina Logistics Services

Oasis Development Co SAOC

Industrial Innovation Academy LLC

Information Technology Sector

Digital Transformation Management Company (DTM)

Oman Broadband Co SAOC

Space Communication Technologies

Oman Information & Communication Technology Group SAOC

Technology Investment Management Co LLC (TIMC)

Onsor Technologies LLC

Jebel Akthar Data Center SAOC (Datamount)

Power Sector

Dhofar Power Co. SAOG

SMN Power

Finance, Investment and Insurance Sector

Vision Insurance

Orient Insurance Co PJSC

Shumookh Investment Service LLC

Oman Investment & Development Holding Co SAOC (Mubadrah)

Oman Banks Association

Al Omaniya Financial Services SAOG

Al Hosn Investment Co SAOG

Global Financial Investment Holding SAOG

Poultry and Dairy

Dhofar Poultry Company SAOG

A’Saffa Foods SAOG

A’Saffa Food Processing LLC

Dhofar Foods and Investment SAOG

Projects, Construction and Trading Sector

Rusayl Industrial City LLC

Al Hassan Engineering Company SAOG

Douglas OHI

Leisure and Travel Sector

Salalah Beach Resort SAOG (Hilton Salalah)

Al Baleed Resort SAOC

Eihab Travels

Trading and Dealership

OHI Electronics

OHI Marine Equipment

Consultancy Services Clients

Salalah Mills Co (SAOG)

Al Anwar Investment SAOG

Bank Muscat SAOG

National Finance Co SAOG

Oman National Investments Development Co (TANMIA)

Al Maha Petroleum Products Marketing Co. SAOG

ITHCA Group

Phoenix Power Co SAOG

Dhofar Generating Company SAOG

Musandam Power Co SAOG

Barka Power and Water Co. SAOG

Secondment Services clients

Nakheel Oman Development Co SAOC

OQ8 - Duqm Refinery and Petrochemical Industries Co LLC

Jindal Shadeed Iron & Steel LLC

Centralized Untilities Co (Marafiq)

Muscat Overseas Group Companies

Muscat Overseas Equipment Trading Co. LLC

Muscat Overseas Projects Services Co. LLC

Muscat Overseas Engineering Services Co. LLC

Muscat Overseas Oilfield Services Co. LLC

Agriculture Modern Engineering Co. LLC

Al Tamman Trading Co. LLC

Al Tamman Indsil Ferrochrome Co. LLC

United Media Services (UMS)

Muscat Overseas Investments

Muscat Overseas Real Estate Leasing and maintenance

Muscat Overseas Construction Co. LLC

Majan Shipping

Majan International Travel Agencies

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