Mohsin Shahzad Sayyed

I am a seasoned retail inventory auditor with over 10 years of hands-on experience in the field. For the past 6 years, I have been dedicatedly working at Levi Strauss Pakistan. My expertise lies in meticulously managing inventory and ensuring accuracy in stock records.

Levi Strauss & Co.

Retail Inventory Auditor - Aug-2018 to Present                                                                                                                                (5.8 Years)

Inventory Audit Management:

• Monthly Audits: Plan and manage monthly inventory audits for company-operated stores, minimizing store closure time before register openings.
• Internal Controls: Implement effective internal control procedures to enhance retail risk management.
• POS System Integrity: Ensure accuracy and integrity of the retail POS system “XSTORE” (formerly Raymark XPERT).
• Prompt Error Resolution: Highlight and rectify inventory discrepancies, mistakes, and system errors promptly.
• Reconciliation: Consistently reconcile the retail inventory systems “XSTORE” and “SAP” for accurate assortment planning and replenishment.
• Outsourced Audit Oversight: Accredit outsourced audit teams to ensure adherence to company procedures during inventory counts.
• Updating Inventory: Updating new inventory in both the Point of Sale (POS) system and SAP.
• Inter-Store Transfers: Reconcile physical and inventory register during assortments and inter-store transfers.
• Franchisee Audits: Conduct franchisee audits as per contractual arrangements and management requirements.
• Statutory Audits: Liaise with external statutory auditors for annual stock takes in company-operated stores and warehouses.
• Shrinkage Reports: Calculate monthly inventory shrinkage reports.
• Internal Annual Audit: Assist the warehouse (DC team) in conducting an internal annual audit.
• IRA Scores: Prepare Inventory Record Accuracy (IRA) scores for each audited location.

Receivable Management:

• Cash and Credit Recovery: Manage and verify cash and credit card recovery in company-operated stores according to procedures.
• Sales Reconciliation: Reconcile system sales with actual recovery deposited in the bank treasury.
• Sales Accuracy: Process any missing or unprocessed sales in SAP to ensure accurate financial statements.
• Bank Reconciliation: Perform monthly bank reconciliation to identify unidentified sales receipts.
• Credit Card Recovery Support: Liaise with the bank’s merchant department to verify disputed credit card transactions.

Insurance:

• Asset Protection: Arrange and maintain adequate insurance coverage with local providers to safeguard company assets (cash, stock, property, vehicles, portable electronic devices) against theft, fire, and damage, following LS&CO’s global guidelines.

Cash Handling & Tax:

• Cash Pickup Monitoring: Monitor third-party cash-in-transit service providers for timely cash pickup from all company-operated stores.
• External Audit Assistance: Assist in external audit procedures related to prepaid expenses, O&O recovery tracing, and vouching.
• Withholding Tax Computation: Calculate weekly withholding tax statements (income tax).
• Tax Challans/CPRs: Provide income tax withholding tax challans/CPRs to vendors.

Servaid Pharmacy (Pvt) Limited

Assistant Manager Internal Audit - Oct-2014 to Aug-2018                                                                                                                      (3.9 Years)

• Audit Plan Development: Developed and implemented a 60-day audit plan covering all 41 pharmacies, both intercity and out-of-station, including a central warehouse audit.
• Team Management: Led a team of 20 junior auditors, overseeing their hiring, training, task assignments, performance evaluations, and addressing any issues.
• Stock Take and Assurance: Conducted daily 100% stock takes, ensuring accuracy in inventory and cash. Collaborated with pharmacy managers to reconcile stock differences and resolve disputes.
• Business Operations Review: Analyzed pharmacy-level operations for efficiency and effectiveness. Identified internal control weaknesses and recommended improvements to senior management.
• Coordination with IT and Accounts: Collaborated with IT and Accounts departments to manage write-offs and short inventory expenses.
• Special Audit Assignments: Handled other special audit assignments as requested by senior management.
• Reporting to CFO: Provided regular reports to the Chief Financial Officer (CFO).

Riaz Bottlers (Pvt) Limited (PEPSI Cola Bottlers)

Internal Audit Officer - Mar-2013 to Oct-2014                                                                                                                                      (1.6 Years)

Basic & Routine Activities:

• Outsource Warehouse Stock Count: Conduct weekly stock counts for the outsourced warehouse, ensuring adherence to stacking protocols. Prepare an audit report that compares physical stock to the company’s ERP stock.
• Diesel Consumption Reconciliation: Monthly reconciliation of diesel consumption for Boiler & Electrical Sections, comparing it with Goods Receipt Notes.
• Spare Parts Audit: Physically audit spare parts, matching them with ERP balances, and promptly report any discrepancies.
• Concentrate Audit: Daily audit of concentrate usage in all PEPSI products, including carbonated and non-carbonated soft drinks.
• Bottled Stock Audit: Daily audit of bottled stock.
• Empty Glass Bottles Audit: Daily audit of empty glass bottle stock.
• Retail Audit Data Entry: Enter retail audit data to calculate market share for all PEPSI products and competitive substitutes. Provide reports to the audit manager for decision-making.
• Cash Payment Approvals Verification: Verify approvals from competent authorities for all cash payments to ensure Payables Authorization Compliance.
• Quality Checklist Verification: Verify quality checklist compliance for Slice (Mango Juice) and authorize its release in batches.
• Empty Broken Glass Verification: Categorically verify empty broken glass and fade logo (Returnable Glass Bottles 250ml Bottles) and authorize their disposal.

Special Assignments:

• Cross Franchising Stock Verification: Visited Haidri Beverages Pvt Ltd Islamabad (March’14) and Naubahar Bottling Company Pvt Ltd Gujranwala (February’14) to verify RBL’s cross-franchising stock.
• Segment Agreements Verification: Verified the complete process of Direct, Indirect & Key Account segment agreements and vouchers preparation for Pepsi Loyalty Club and Distributor-Pepsi Loyalty Club based on their monthly sales.
• Utility Area and PET Line Verification: Verified the utility area and new German PET (Polyethylene terephthalate) line building (Line # 6) constructed by IZHAR Constructions, using detailed bills and actual measurements.
• Equipment Audit: Audited pine lines and other equipment installed at the Chinese glass line by Ravi Green Engineering, comparing measurements with the bill.
• Annual Maintenance Spare Parts Audit: Conducted a 100% audit of annual maintenance spare parts for PET line no. 2 & 3 and Glass line number 4, using delivery notes, invoices, and Goods Receipt Notes.
• Beverage Survey: Conducted a joint survey of beverages with PEPSI Cola International in the Lahore territory (June’13).
• Stores & Spare Parts Stock Count: Conducted a 100% stock count of Stores & Spare parts and reported findings to senior management (May’13).

S.P.  Amjad & Co. (Chartered Accountants)

Junior Auditor - July-2012 to Oct-2012                                                                                                                                      (4 Months)

Lahore Chamber of Commerce & Industry

Intern - Dec-2011 to Feb-2012                                                                                                                                      (3 Months)

(ACCA) (Level 1 & 2 Passed) 
 

Bachelor of Arts (2004-2006)

University of the Punjab, Lahore Pakistan