Usama Zulfiqar

Internal Auditor
Usama Zulfiqar

Introduction

A qualified professional (FCCA, CIA CISA) with more than 14 years of experience, mostly in internal auditing. Major expertise is in the field of insurance.

Understanding the business environment, its culture, and the expectation of stakeholders & customers is critical. Even the most experienced and professional management and members of the board think that their Company has one of the best internal controls, in place. However, mere the design of internal controls is not enough and its actual implementation and monitoring are also important.

Another important factor where internal controls fail is resource constraints. Too much trust in few people to run critical functions of the Company may result in opportunities for fraud, waiting to unfold.

The approach towards implementing the policies and related controls needs improvement. The use of tools and techniques which support the fundamentals of the control environment needs to be understood by the stakeholders. Hence auditor's role is not only to advise suitable recommendations but also to disseminate awareness and build a good rapport with the key stakeholders.

I have a strong belief in equity, being the opportunity for everyone to succeed and contribute within the society.

Usama Zulfiqar

My Journal

November 14, 2019
Incentives and pressures increase the risk of management overrides which requires a strong oversight from the Audit Committee.
October 8, 2019
Pakistan's economy was deliberately misunderstood in order to convince masses that everything is fine.
©2019-2021-Usama Zulfiqar-All Rights Reserved

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