Awan - Chief Financial Officer - Lahore, Punjab, Pakistan

Malik Kashif Awan

Lahore, Punjab, Pakistan


Chief Financial Officer


The Chief Financial Officer (CFO) occupies a critical position in any organisation, holding the financial reins of the business and ensuring that resources are used wisely to secure positive results. While the global financial crisis and economic
downturn have made these tasks even more challenging, they have also underlined the fundamental importance of the role.

CFO is a key member of the Leadership Team, helping it to develop and implement strategy and to resource and deliver the organisation’s strategic objectives sustainably and in the public interest;
CFO must be actively involved in, and able to bring influence to bear on, all material business decisions to ensure immediate and longer term implications, opportunities and risks are fully considered, and alignment with the organisation’s financial strategy; and
CFO must lead the promotion and delivery by the whole organisation of good financial management so that public money is safeguarded at all times and used appropriately, economically, efficiently and effectively.

Work History

Chief Financial Officer

AFN Action for Nation (NGO)

From June 2013

The Chief Financial Officer (CFO) provides both operational and programmatic support to the organization. The CFO supervises the finance unit and is the chief financial spokesperson for the organization. The CFO reports directly to the President/Chief Executive Officer (CEO) and directly assists the Chief Operating Officer (COO) on all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs and the securing of new funding.

Assist in performing all tasks necessary to achieve the organization's mission and help execute staff succession and growth plans.
Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
Work with the CEO on the strategic vision including fostering and cultivating stakeholder relationships on city, state, and national levels, as well as assisting in the development and negotiation of contracts.
Participate in developing new business, specifically: assist the CEO and COO in identifying new funding opportunities, the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery.
Assess the benefits of all prospective contracts and advise the Executive Team on programmatic design and implementation matters.
Ensure adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
Provide the COO with an operating budget. Work with the COO to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements. This includes: 1) interpreting legislative and programmatic rules and regulations to ensure compliance with all federal, state, local and contractual guidelines, 2) ensuring that all government regulations and requirements are disseminated to appropriate personnel, and 3) monitoring compliance.

Finance Director

G-Tide Mobiles Pakistan (ZTS International Trading Co., Shenzhen China)

December 2012 - June 2013

Working alongside a businesses’ MD or CEO, the Finance Director will not only be an exceptional accountant, hands on with company finances but be commercially aware, advising on the best path of growth for the business.
MKA's role of the Finance Director has overall control and responsibility for all financial aspects of company strategy and is expected to analyse figures and implement recommendations based on these findings with the most profitable outcomes.

Key Responsibilities:
Work with senior teams to grow the businesses formulating strategies and plans
Lead and develop finance teams
Lead and manage the budgeting process
Overall cash management on an ongoing basis
Formulation of annual budgets and targets
Overall control of all financial transactions and accountancy matters, including audit systems
Preparation and submission of weekly and monthly updates
Presentation of annual accounts with recommendations
Review of accounts and investigation of variances then setting recovery plans
Treasury matters
Capital expenditure – evaluation and preparation of submissions
Insurance/ risk management
Setting annual cost rates and prices for customers
Close involvement in commercial negotiations with customers
Ensuring that the regulatory requirements of all statutory bodies are met

Chief Financial Officer

G-Tide Mobiles Pakistan (ZTS International Trading Co., Shenzhen China)

January 2011 - December 2012

Accountable for the leadership and strategic management of the company's commercial and financial functions. Work closely with members of the executive team across the range of corporate, development, and operational functions. Specific responsibilities include:

•Contributing to the strategic and commercial development of the company;
•Delivering accurate and timely Board reports;
•Manage ERP implementation projects;
•Manage capital raising projects such as IPO and JV financing
•Undertaking commercial negotiations;
•Ensuring compliance including FBR Rules, taxation and corporations requirements;
•Developing corporate financial policy;
•Enhancing financial and business management systems.
•Identify M&E targets and manage M&E process.

Visiting Lecturer

Federal Urdu University of Arts, Science & Technology, Islamabad

March 2009 - August 2011

Conducting finance courses for MBA at Management Sciences Department of Federal Urdu University, Faisalabad Campus for one course i.e., Financial Statement Analysis.

Chief Financial Officer

Kingtech Telecom Pakistan Private Limited (G'Five)

April 2009 - January 2011

- Oversees the financial management of 7 entities across the South Asia region in Pakistan, AJK, Bangladesh and Afghanistan;
- Owner of the regional P&L, BS, Cash Flow, Working Capital, Risk Management, Treasury, Strategy Management, Procurement, IT;
- Drives the Inventory & Cost Analysis, Budgeting, Variance Analysis, Project Financing, Capex review, KPI etc;
- Reports to Global CFO based in Guangzhou, Schenzen with dotted line to country CEO and leads a team of 43 including accounting and finance, sales administration, legal, IT, procurement and supply chain.

Visiting Lecturer

University of Sargodha, Pakistan

April 2009 - October 2010

Conducting finance courses for MBA at Management Sciences Department of Sargodha University, Faisalabad Campus for one course i.e., Financial Risk Management.

Visiting Lecturer

GC University

March 2009 - October 2010

Conducting finance courses for MBA, MPA and MIM at Management Sciences Department of GC University. Specializes in Financial Management, Public Finance Management, Taxation Management, Investment Valuation & Analysis and Public Financial Strategy.

Independent Consultant

MMKSA Financial Engineers

From October 2008

Providing services to relationship clients to facilitate major initiatives and drawing on MKA’s experience across banking, financial services, funds management and industrial corporations. Projects often involve the coordination of linkages between external advisers and the internal management team.

Visiting Lecturer

Riphah International University

March 2008 - August 2011

Conducting finance courses for MBA and BBA (Hons.) at Management Sciences Department, Faisalabad Campus of Riphah International University. Specializes in Financial Statement Analysis, Corporate Finance, Investment Valuation & Analysis, Credit Risk Management, Financial Accounting and Financial Strategy.

Visiting Lecturer

Allama Iqbal Open University

March 2008 - November 2010

Conducting finance courses for MBA at Management Sciences department of Allama Iqbal Open University at Faisalabad / Lahore Campuses. My subject of instruction is Corporate Finance for MBA 4th Semester (Finance Specialization).

Deputy Manager Accounts

Amtex Limited

May 2008 - April 2009

Working as Accounts Head Griege & Yarn Department, responsibilities includes;

 Manage month end closing process including GL entries, reconciliations and analysis of variances and customer profitability analysis for different business lines
 Partner with Account Heads to ensure any issues with budgets, billings, expenses and collections are resolved
 Partner with account sales teams to ensure financial business plans are accurately forecasting, analysing and reporting revenue
 Led the cost savings project and proposed a variety of methods to reduce costs throughout the organization
 Managed internal control self assessment questionnaire and survey for SOX purpose
 Delivered training sessions to the financial accountants to introduce concepts and application of new GAAP accounting policies and procedures

As the Project Co-ordinator ERP Inventories Module, successful implementation of Oracle - Inventories Management Module (e-business suit R12) in the organization.

Credit Risk Analyst

United Bank Limited

January 2008 - May 2008

 Planning and execution of individual operation risk assurance engagement across UBL institutional banking including business and consumer lending, financial markets, property management and international operations
 Collaborate with team members to ensure the smooth running of individual operational risk Assurance engagements
 Take a risk-based approach to identify areas to be assessed and monitored, are co-ordinated with other WIB risk assurance classes and aligns with those of other divisions to minimise gaps
 Identify, evaluate and escalate assurance issues and themes
 Provide the draft written opinion on the outcomes of individual operational risk assurance engagements containing effective and value adding recommendations for the first line of defense
 Develop and maintain strong relationships with external and internal audit in order to achieve a coordinated and integrated program of assurance for the division.

Visiting Lecturer

PCA & Tips and Other Professional Institutes

March 2004 - November 2012

Currently teaching at different Professionals Educational Institutes of Accountancy as a visiting faculty member. Have extensive teaching experience of more than 8 years in the field of accountancy and finance and conducted classes for different courses of ICAP, ACCA and PIPFA.

Audit Senior


August 2004 - January 2008

 Lead audit team or assisted on various assignments which comprised of audits of public listed or private companies involved in diversified range of business activities
 Planning audit engagements and managing team throughout providing guidance and assistance where required and liaising with senior management
 Keep up-to-date on new developments (both internal and external) impacting the accounting & audit business and its operations to ensure that new risks are identified.
 Conducted audits by documenting, validating and testing the control systems under the ICAP’s guidelines
 Interviewed process owners and updated narratives and flow charts, operational and financial control checklists, risk register, process mapping and identified risks in the system
 Analytical review and year end substantive tests on financial statements
 Drafted financial statements and prepared disclosure notes
 Put forward value added recommendations to management to address risks / issues identified.
 Coached new auditors in auditing procedures
 Identified deviations and control risks and prepared management letter to report issues
 Innovation and continuous improvement.

Accounts Executive

Faisalabad Dry Port Trust

February 2004 - August 2004

 Preparing financial records in computerized accounting system like Cash Payment Vouchers and Bank Payment Vouchers.
 Prepare Bank Reconciliation Statement.


Accounting Information System

Accounting information systems are composed of six main components:
1. People: users who operate on the systems
2. Procedures and instructions: processes involved in collecting, managing and storing the data
3. Data: data that is related to the organization and its business processes
4. Software: application that processes the data
5. Information technology infrastructure: the actual physical devices and systems that allows the AIS to operate and perform its functions
6. Internal controls and security measures: what is implemented to safeguard the data

Inventory Management System

An inventory control system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components.
Modern inventory control systems often rely upon barcodes and RFID tags to provide automatic identification of inventory objects. In an academic study performed, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment. To record an inventory transaction, the system uses a barcode scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals (workstations), or mobile computers.

Accounting Information Flow

Accounting systems take the cash and accruals from various transactions and generate financial reports and statements. Information flows through an accounting system in four steps:

The first step is to create journal entries and adjusting entries. The general journal is list of each transaction, the amount, and the accounts affected in chronological order. At the end of accounting periods adjustments are made to record accruals not yet made.

Next, the general ledger show the journal entries sorted by the accounts affected rather than in chronological order. This can be useful for reviewing the activity in a specific account.

At the end of the accounting period an initial trial balance is prepared lists the ending balance of each account on a given date. If needed, adjusting entries are recorded in an adjusted trial balance.

Finally, the financial statements are prepared as a final product of the system, based on the totals from an adjusted trial balance.

Fixed Assets Management

Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets utilizes serial numbered Asset Tags, often with bar codes for easy and accurate reading. Periodically, the owner of the assets can take inventory with a mobile barcode reader and then produce a report.

Off-the-shelf software packages for fixed asset management are marketed to businesses small and large. Some Enterprise Resource Planning systems are available with fixed assets modules.

Some tracking methods automate the process, such as by using fixed scanners to read bar codes on railway freight cars or by attaching a radio-frequency identification (RFID) tag to an asset.

Year End Financial Closing 2010

The year-end closing enable the company to produced the final balance sheet and profit and loss statement for its annual report, which has to be created to meet the particular legal obligations in each country.

Once the fiscal year is closed, you can no longer post or change values within Asset Accounting (for example, by recalculating depreciation). The fiscal year that is closed is always the year following the last closed fiscal year. You cannot close the current fiscal year.

Foreign Delegation for Year End Quality Review 2010

Quality reviews are planned and documented inspections of a review item. The review item may be a product, a group of related products or part of a product. The
scheduling of quality reviews is likely to represent a significant effort in terms of required resources. The earlier an error is identified the less costly are the implications and the penalty for failing to conduct adequate reviews is illustrated by the graph shown. The early detection of errors also minimizes the degree to which faults in one product can be compounded - either in its later development or in the development of related products.

Financial Audit 2010

A financial audit, or more accurately, an audit of financial statements, is the review of the financial statements of a company or any other legal entity (including governments), resulting in the publication of an independent opinion on whether those financial statements are relevant, accurate, complete, and fairly presented. Financial audits are typically performed by firms of practicing accountants due to the specialist financial reporting knowledge they require. The financial audit is one of many assurance or attestation functions provided by accounting and auditing firms, whereby the firm provides an independent opinion on published information. Many organisations separately employ or hire internal auditors, who do not attest to financial reports but focus mainly on the internal controls of the organization. External Auditors Earnest & Young are chosen to place limited reliance on the work of internal auditors.

Foreign Delegation for Year End Quality Review

Quality reviews are planned and documented inspections of a review item. The review item may be a product, a group of related products or part of a product. The
scheduling of quality reviews is likely to represent a significant effort in terms of required resources. The earlier an error is identified the less costly are the implications and the penalty for failing to conduct adequate reviews is illustrated by the graph shown. The early detection of errors also minimizes the degree to which faults in one product can be compounded - either in its later development or in the development of related products.

Internal Financial, Cost & Management Audit 2011

After one year, there is change in costing and management accounting processes, so a detailed audit and change in policy process has been initiated.
6 team members, including:
Malik Kashif Awan
Wilfred Wong
Peter Huang
Frank Hou

Financial Review 2010-2011

Annual Financial Review is Done by experts of Z. T. S. International Limited, Hong Kong for Inventories, Assets, Liabilities & Cash.

Qualifications & Certifications

Master of Science (MS), Accounting, 3.83 CGPA

Capital University

CPA - Certified Public Accountant, Accounting and Finance, All Papers Passed in One Sitting

Institute of Ccertified Public Accountants of Pakistan (ICPAP)

PGD in Islamic Banking & Finance, Banking and Financial Support Services, A Grade

Al-Qalam Institute of Islamic Economics

JAIBP, Banking, Corporate, Finance, and Securities Law, Passed with A Grade

Institute of Bankers of Pakistan

CA Intermediate, Accounting and Finance, A Grade / First Attempt

Institute of Chartered Accountants of Pakistan (ICAP)

Bachelor of Commerce (BCom), Accounting and Finance, A Grade / 1st Division with Distinction

University of the Punjab, Lahore

Associate Public Accountant (APA), Accounting and Finance, 13 A Grades / Throughout First Attempt

Pakistan Institute of Public Finance Accountants

CA Foundation, Accounting and Finance, Exempted on Basis of PIPFA

Institute of Chartered Accountants of Pakistan (ICAP)

Islamia College, Faisalabad

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