A Candid Reflection on the work done in the Audit

Department during my Internship.

Corporate Audit Department (CAD)

BACKGROUND
I started my internship at Engro Powergen on the 8th of June 2015 in Finance
department. On the first day of my internship, I was sent to Corporate Audit
Department (CAD) by the internee supervisor Mr. Govinda Hira. I stayed in the
Corporate Audit Department for the remainder of my internship.

OVERVIEW OF THE TENURE:

CAD Department Structure:
The CAD department currently has three personnel and is headed by Mr. Jaseem
Ahmed Khan under whom there are two Assistant Audit Officers, Mr. Anas Bin Sajid
(who looks after Head Office Audit with Mr. Jaseem) and Mr. Hasnain Raza (who
looks after the Plant Audit). The CAD department looks after the audit of Engro
Power Gen, Engro Powergen Qadirpur, Sindh Engro Coal Mining and Engro Powergen
Thar.

Timeline of Stay:
My internship with Audit Department lasted for about 6 weeks starting from June till
mid July. It was indeed an interesting hands-on experiential based learning under
the esteemed guidance of Mr. Jaseem Ahmed Khan and Mr. Anas Bin Sajid whose
continued support was invaluable to me throughout my period with the CAD
department.
I would want to delve into the timeline of my tasks and how it was spaced out
throughout the period. This would include all types of tasks because every task no
matter how small contributed to my corporate learning which is indispensable for
settling into the business and getting to know the business operations itself.

TASKS PERFORMED
Settling In: Digitization of all Board Audit Committee (BAC)
files.
The first task that I was assigned by Mr. Jaseem Ahmad Khan was the digitization of
all Board Audit Committee (BAC) files. I was given both the hard and soft copies of
the BAC files of Engro Powergen, Engro Powergen Qadirpur, Sindh Engro Coal
Mining Company and Engro Powergen Thar. My task was 3 folds, firstly I was
required to check that for every individual hard copy there existed a soft copy, and
the number and the arrangement of the pages was the same for both the hard and
soft copy. Secondly I was to report any missing soft copies to Mr. Faisal in the record
room and provide him with the necessary hard copies that needed scanning. Thirdly
I was required to make an excel file of all BAC files from Engro Powergen, Engro

Powergen Qadirpur, Sindh Engro Coal Mining Company and Engro Powergen Thar,
reporting any remarks or missing hard or soft copies. This task gave me the
opportunity to learn the important operation of digitization. Digitization of the BAC
files has given Corporate Audit Department (CAD) an easy access to the inventory
of BAC files. Secondly the task gave me a chance to polish my excel skills as well.
More importantly, it provided me insight into the discipline of documentation
maintenance.

Settling In: Verification of Cheques

I was taught most of the operations of the Internal Audit Department by Mr. Anas
Bin Sajid. From my 3rd till 6th week I was instructed to check the relevant supports
of the payments coming in whether they were cheques from Engro Powergen, Engro
Powergen Qadirpur , Sindh Engro Coal Mining Company. Throughout this process, I
was able to gather sufficient information regarding the kind of payments being
made and through which relevant personnel in the organization, certain payments
were sent to the suppliers. In addition to this, the examination of the supports also
gave me the understanding of which documents need to be presented to Audit for
the payment and cheque audit process which would make sure that the payment is
done swiftly without any hindrances. I was also instructed to audit the gifts given to
the employees of Engro Powergen, Engro Powergen Qadirpur, Sindh Engro Coal
Mining Company and Engro Powergen Thar as per Engros code of conduct.

Major Project: Compliance of Joint Venture Agreement.

I was given my own project which required me to check the compliance of the Joint
Venture Agreement (JVA) between Engro and Government of Sindh. The project was
conducted under the supervision of Mr. Anas Bin Sajid. I believed that I was up for
the responsibility. So I started with going through the Joint Venture Agreement (JVA),
traversing myself through the JVA highlighting the salient points which would
become the focal points of review during the Audit. Previous Audit Reports on the
JVA were meticulously studied to gauge the kind of points to delve into.
Once the JVA was thoroughly looked through and the important points were jotted
down. Mr. Anas Bin Sajid reviewed all the points and made sure they were of
substance. I was then instructed to meet with the correspondents from Treasury,
Accounts, Finance and Human Resource Management and inquire about the
compliance of the following points, possibly ask for evidence in the form of a
document on most occasions. If the particular department was not able to provide
the evidence or state that the present operations are not in accordance to JVA a non
compliance was noted.
Finally I was required to go through and study the previous audit reports and
prepare a new audit report. Report all the non compliances in proper form this was
done under the supervision of Mr. Anas Bin Sajid. An Audit report was created and
submitted to Mr. Jaseem Ahmad Khan for further review.

In the end I would like to especially thank Mr. Anas Bin Sajid who provided me great
direction through the Audit of Joint Venture Agreement which allowed me to learn
from my mistakes.

Code of Conduct
During the final week of my internship I was presented with a new task by Mr.
Jaseem Ahmad Khan. The task that I was assigned was identifying the personnel of
EPQL who have yet to sign the Code of Conduct and submit it to the Audit. The
initial email outlining the importance of Ethics and recognizing the Code of Conduct
has been sent by CAD. However, follow-up is yet to start with the employees. So as
per my duties I was to make sure that I issue a copy of the code of conduct to all
employees who were yet to receive one and follow up and collect the signed
acknowledgement.
In the end of my report I would like to thank Engro for giving me this opportunity,
this internship has been a great learning experience. During this internship I was
able to develop skills that will benefit me greatly in the years to come. I would also
like to thank Mr Jaseem Ahmad Khan and Mr Anas Bin Sajid for their support and
guidance which allowed me to probe further and develop a broader understanding
of Internal Audit Department and the corporate sector.