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Sarmad Saqlain


Work History

May 2011Present

Senior Associate - Assurance and Business Advisory Services

Ensuring delivery of quality control compliant audit work through: i. Timely and effective planning to identify critical issues and develop effective response strategies. ii. Budgeting time, cost and resource needs for the assignment including variance analysis of budget and actual costs. iii. Testing the appropriateness of recognition and measurement policies for financial statement line items, performing control testing and substantive procedures to verify classes of transactions, account balances and disclosures. iv. Testing customer and vendors subsidiary ledgers reconciliation, ageing analysis and bad / doubtful debts provision. v. Impairment testing for property, plant, equipment and intangible assets. vi. ensuring appropriate valuation of inventories by NRV testing. vii. Testing and reconciling intercompany and joint venture balances including consolidation entries and ensuring the adequacy of disclosure for related parties transactions and balances in accordance with IAS 24. viii. Querying large data sets and general ledgers to identify unusual / dubious accounting entries, non - compliance with and bypassing of internal controls and fraud identification. ix. Preparation of separate and consolidated financial statements including notes to the accounts in accordance with IFRS and local GAAPs. b. Business advisory including: i. Design and review of SOPs and financial policies manuals in compliance with IFRSs, legal and regulatory requirements and industry best practices. ii. Review of annual and quarterly budgets and actual data with in-depth variance analysis, including commentary on KPIs. iii. Preparation of fixed assets register including items’ tagging. iv. Drafting internal control memorandum with commentary and suggestions for process improvement and amendments to / devising new internal controls. b. Assisting in the conduct of PwC’s Assurance and Audit Methodology trainings for new hires in the firm.