Razzak Baloch

Audit and Risk professional with more than 5 years of experience in External Audit, Internal Control over Financial Reporting Implementation and Assessment, and Risk Advisory Services within Banking and diversified sectors. Experienced in leading audit engagements from planning to completion in accordance with IFRS, ISAs, and SBP guidelines. Skilled in ICFR scoping, process walkthroughs, RCM development, control testing, and gap assessment for financial reporting processes.

Possess strong exposure in preparation and review of statutory financial statements, internal controls, and regulatory compliance reporting. Currently serving as Assistant Vice President (AVP-1) at BankIslami Pakistan Limited with prior experience at Yousuf Adil Chartered Accountants.

Assistant Manager (AVP-I) - ICFR | Enterprise Risk Management Department - Bank Islami Pakistan Limited

(2026-06)

• Leading implementation of the Bank's Internal Control over Financial Reporting (ICFR) framework in accordance with SBP ICFR guidelines and internal policies.
• Perform ICFR planning and scoping activities by identifying significant accounts, disclosures, and related business processes based on quantitative and qualitative risk assessment criteria.
• Conduct mapping of financial statement line items and disclosures with relevant processes and sub-processes to ensure complete ICFR coverage.
• Review and update Entity Level Control (ELC) checklists in coordination with process owners, senior management, and group heads.
• Perform walkthroughs of key banking processes and update Process Description Documents (PDDs) to strengthen process documentation and control understanding.
• Develop and maintain Risk and Control Matrices (RCMs) by assessing risks, evaluating controls, and mapping controls with relevant financial statement assertions.
• Execute testing of entity level controls and key process controls in accordance with approved management testing plans and SBP guidelines.
• Identify control deficiencies, process gaps, and design weaknesses and prepare gap assessment reports with practical recommendations.
• Coordinate with process owners for remediation of identified gaps and monitor implementation of corrective actions.

Senior Associate (II) - Audit - Yousuf Adil Chartered Accountants

(2024-08 - 2026-06)

Senior Associate (I) - Audit - Yousuf Adil Chartered Accountants

(2022-12 - 2024-08)

Audit Associate - Yousuf Adil Chartered Accountants

(2021-11 - 2022-12)

Audit Senior - Yousuf Adil Chartered Accountants

(2021-12 - 2026-06)

• Leading audit and assurance engagements through planning, execution and finalization stages.
• Finalization of engagements by evaluating compliance with applicable professional and technical standards relevant to the engagement (IFRSs, ISAs and so on).
• Leading Special review of bank's Internal control over financial reporting (ICFR) as per SBP guidance. From Scoping to annual assessment report.
• Consulting with technical teams and specialists (e.g. lawyers, actuaries, tax advisors, IT and Risk Management experts) regarding significant matters.
• Coordinating with Engagement Partners and Managers to agree on the nature and extent of procedures and to update on the progress of the engagements.
• Command over preparation and review of statutory financials, compliance and management reports.
• Capability to design and implement strong control system.
• Ensuring timely completion and issuance of deliverables to clients as per agreed timelines.

Chartered Accountants (CA) - Institute of Chartered Accountants of Pakistan (ICAP)

Bachelor of Commerce (B.Com) - University of Karachi (2021)

Intermediate - Commerce - Board of Intermediate Education, Karachi (2016)

Matriculation - Board of Secondary Education, Karachi (2014)