Basic Info

Mostafa Elhilaly

More than 15 years

Giza Governorate, Egypt

Bachelor's Degree

Senior Management

Work Experience

Director Internal Audit for Large Group at Universal Group Egypt

Experience Details

Director Internal Audit for Large Group

Operations/Management

Senior Management (e.g. VP, CEO)

Universal Group is a leading manufacturer of home appliances with ten independent factories and a total headcount exceeding 7000 employees and total assets exceeding EGP 2 billion.
Responsibility
Reporting to the Board of Directors, Audit committee my responsibility covered:
 Design and implementation of the internal audit’s programs and controls, covering the areas of business systems and processes, financial and accounting systems, IT, investigations, and enterprise risk assessment.
 Develop and update a comprehensive risk-based audit plan for evaluating the effectiveness of controls in place to manage significant risk exposures.
 Insure the integrity and reliability of information and financial reporting.
 Safeguard company’s assets, and comply with laws and regulations with Focus on high risk areas.
 Include all company locations and across functions in the audit universe to determine if they are performing in compliance with management’s policies, procedures, goals and objectives.
 Evaluate the organization’s system of internal control to ensure that it is functioning as planned and that it is updated as necessary to meet changes in operating conditions. Proactively promote effective internal financial control to mitigate the risk of fraud and error.
 Ensure that senior management and the Audit Committee are aware of current issues related to all areas covered by the Internal Audit department, including internal financial control, corporate governance, audit committee and internal audit matters.
 Manage, recruit, develop and train a professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the Company’s audit requirements.

ACHIEVEMENT
As the Board of Director request, my first challenge was to change the existing Traditional Audit approach, with unsatisfactory results, to the Risk Based Audit with the most efficient and effective results. The Risk Approach was applied in the planed time with the following results:
 More than 450 high and medium risks were identified and well managed.
 SAP implementation was improved from 55% to 90% actual usage of total system capabilities.
 Fraud detection/prevention process were developed to cover 26 high risk areas.
 Recognized improvement in the overall control system effectiveness, where more than 300 control weakness points were recovered.


Company Details

Universal Group Egypt

Cairo, Egypt

More than 1000 employees

Manufacturing

N/A

Sep 2011 to Aug 2016 (4 years 11 months)
Head of Internal Audit at Corporate Leasing Company (Corplease)

Experience Details

Head of Internal Audit

Operations/Management

Senior Management (e.g. VP, CEO)

CorpLease is a multinational financial services company providing a full range of leasing products and services. The company is owned by leading banks namely CIB , DEG and UBAF. The company reported annual sales of LE 700 MM.
Responsibility:
Reporting to the “Board of Directors”, Internal Audit Committee, my responsibility covered:
 Provide strategic direction and leadership in the area of Internal Audit.
 Design and implementation of the internal audit’s programs and controls, covering the areas of business systems and processes, financial and accounting systems, IT, investigations, and enterprise risk assessment.
 Responsible for initiating and managing audits the results of which will help the business manage Business risks.
 Improve and develop efficient and effective business processes.
 Identify and communicate best practices, and foster appropriate control levels for Provide strategic direction and leadership in the area of Internal Audit.
 Design and implementation of the internal audit’s programs and controls, covering business risks.
 Developing comprehensive audit plans to monitor management’s controls over all risks.
 Responsible for developing detailed audit programs to monitor controls and provide reports as required.
 Plan, staff, execute and report results for audits.
 Develop and maintain relationships with senior management to ensure appropriate communications and timely oversight.
ACHIEVEMENT:
Identified and reported high value audit findings for illegal actions amounting to EGP 220 MM. Detailed report was presented to the Board of Directors in this regard. Investigations took place and corrective action was taken on time.


Company Details

Corporate Leasing Company (Corplease) (multinational)

Cairo, Egypt

101-500 employees

Financial Services

N/A

Feb 2008 to Sep 2011 (3 years 7 months)
Internal Audit Manager at General Motors - Egypt

Experience Details

Internal Audit Manager

Operations/Management

Manager

General Motors (GM) is a leading automotive manufacturer worldwide.
Responsibility
 To provide the Company’s senior management and the Board of Directors, Audit committee an independent and objective assurance, evaluations, analyses and appraisals designed to add value and improve the company’s operations, and effectiveness of governance and risk management processes, and internal controls environment.
 Prepare and update a comprehensive risk-based audit plan for evaluating the effectiveness of controls in place to manage significant risk exposures, insure the integrity and reliability of information and financial reporting, safeguard company’s assets, and comply with laws and regulations. Focus on high risk areas.
 Evaluate the organization’s system of internal control to ensure that it is functioning as planned and that it is updated as necessary to meet changes in operating conditions. Proactively promote effective internal financial control to mitigate the risk of fraud and error.
 Contribute to the development and maintenance of a strong business ethics program and its audit.
 Lead or manage internal investigations in accordance with the Company’s Code of Business Ethics, or otherwise, in cooperation with the Company’s Legal Department.
 Assist development and promote the Risk Management Strategy of the Company.
 Help ensure that business managers fulfill their responsibilities for managing risk while making certain the objectives of the Group are accomplished and the policy carried out.
 Review and challenge the company’s policies to ensure that they are up-to-date and relevant.
ACHIEVEMENT
GM Board of Directors was unsatisfied of last audit rating of (pass, but need improvement), so my first challenge as Internal Audit Manager in GM-Egypt was to improve that unsatisfactory audit rate. I had to change Audit Strategy and enhance team work with the senior management members, for four consecutive years the rating improved to be (Adequate) then to the rating of (Strong). The rating of (Strong) awarded by GM USA corporate audit team was the first to be granted then among all GM units worldwide science 1993.
Previous Positions in (GM)
 Financial Analysis Manager.
 General Accounting Manager.


Company Details

General Motors - Egypt (multinational)

6 october city, Egypt

More than 1000 employees

Automotive

N/A

Mar 1990 to Aug 2007 (17 years 5 months)
Audit Group Leader at KPMG - Big 4

Experience Details

Audit Group Leader

Accounting/Finance

Experienced (Non-Manager)

Responsibility Brief :
Responsible for auditing and verifying the financial position of a group of commercial banks and multi-national companies, including Bank of Nova Scotia, Chase National Bank, and various Oil Companies.


Company Details

KPMG - Big 4

Cairo, Egypt

More than 1000 employees

Accounting and Auditing Services

N/A

Jul 1985 to Feb 1990 (4 years 7 months)

Achievements


ACHIEVEMENT
As the Board of Director request, my first challenge was to change the existing Traditional Audit approach, with unsatisfactory results, to the Risk Based Audit with the most efficient and effective results. The Risk Approach was applied in the planed time with the following results:
 More than 450 high and medium risks were identified and well managed.
 SAP implementation was improved from 55% to 90% actual usage of total system capabilities.
 Fraud detection/prevention process were developed to cover 26 high risk areas.
 Recognized improvement in the overall control system effectiveness, where more than 300 control weakness points were recovered.



ACHIEVEMENT:
Identified and reported high value audit findings for illegal actions amounting to EGP 220 MM. Detailed report was presented to the Board of Directors in this regard. Investigations took place and corrective action was taken on time.



ACHIEVEMENT
GM Board of Directors was unsatisfied of last audit rating of (pass, but need improvement), so my first challenge as Internal Audit Manager in GM-Egypt was to improve that unsatisfactory audit rate. I had to change Audit Strategy and enhance team work with the senior management members, for four consecutive years the rating improved to be (Adequate) then to the rating of (Strong). The rating of (Strong) awarded by GM USA corporate audit team was the first to be granted then among all GM units worldwide science 1993.



Education

BSc. of Commerce in Accounting

Education Details

BSc. of Commerce

Accounting

Cairo University, Egypt

B / Very Good / 75 - 85%

Accounting

N/A

Cairo University
1981 - 1985
High School - Thanaweya Amma

High School Details

Thanaweya Amma

Giza High School

Egypt

1981

B / Very Good / 75 - 85%

N/A

Giza High School
1981

Certifications

Certificate details

Certified Internal Auditor - ISO Standards

Sep 2001

N/A

N/A

N/A

GM - Egypt

his certificate usually used to audit manufacturing companies to ensure compliance with ISO standards.

Training and Courses

Training/Course Details

Enterprise Risk Management (ERM)

May 2003

Genral Motors Training Academy

N/A

Training/Course Details

Risk Based Audit

Mar 2004

General Motors Training Academy

N/A

Training/Course Details

Fraud detection/prevention & investigations

Aug 2005

GM Training Academy

N/A

Training/Course Details

SAP implementation Audit

Jun 2006

GM Training Academy

N/A

Training/Course Details

Certified Internal Auditor - ISO standards

Oct 2006

GM Training Academy

N/A

This profile is not updated!
Last update more than 2 months ago.

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Profile Skills and Keywords

AccountingAccounting And Auditing ServicesArabicAudit Group LeaderAutomotiveBusiness-orientedCertified Internal Auditor - ISO StandardsCommunicatorCorporate Leasing Company (Corplease)Director Internal Audit For Large GroupEnglishEnterprise Risk Management (ERM)FinanceFinancial AuditFinancial ServicesFraud Detection/prevention & InvestigationsFraud Detection/prevention And InvestigationsGeneral Motors - EgyptHead Of Internal AuditInitiativeInsuranceInternal Audit ManagerManagementManufacturingMicrosoft OfficeNegotiatorProblem SolverRisk Based AuditRisk ManagementSAP Implementation AuditSea FoodSwimmingTennis

Self-assesed Skills

Languages

English

English

: Fluent

: Fluent

: Fluent

: Fluent

Arabic

Arabic

: Fluent

: Fluent

: Fluent

: Fluent

Tools and Technologies

SAP implementation Audit

SAP implementation Audit

: Advanced

: High

:

More than 7 years

Microsoft Office

Microsoft Office

: Advanced

: High

:

More than 7 years

Fields of Expertise

Fraud detection/prevention and investigations

Fraud detection/prevention and investigations

: Expert

: High

:

More than 7 years

Risk Based Audit

Risk Based Audit

: Expert

: Extreme - I love it!

:

More than 7 years

Risk Management

Risk Management

: Expert

: Extreme - I love it!

:

More than 7 years

SAP implementation Audit

SAP implementation Audit

: Advanced

: High

:

More than 7 years

Financial Audit

Financial Audit

: Advanced

: High

:

More than 7 years

Key Skills

Business-oriented, Communicator, Negotiator, Initiative, Problem Solver

Online Presence

Mostafa El Hilalymostafahilaly@yahoo.com

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