Derar Khalifeh, CPA,CIA
.
Abu Dhabi
Overview
12
12
years of professional experience
2
2
Languages
Work History
Head of Internal Audit Department
Noor Capital P.S.C
05.2022 - Current
- Established the Internal Audit Department from scratch, including drafting the Internal Audit Charter, risk-based audit plan, and departmental policies and procedures in alignment with IIA standards.
- Developed and implemented the first Enterprise Risk Register, enhancing visibility over key operational and strategic risks and enabling structured risk mitigation across departments.
- Introduced structured reporting to the Audit Committee, including periodic dashboards and key risk indicator (KRI) updates, improving governance oversight.
- Conducted over 25 risk-based internal audits covering core business functions, resulting in more than 80 actionable recommendations, with a 90% implementation rate.
- Identified and helped remediate critical control gap
- Provided advisory support to executive management on control design, risk mitigation, and regulatory compliance initiatives as well as advises on policies and procedures
- Developing and monitoring annual audit plan based on the risk assessment approach.
- Manages performance of audit assignments, reviews audit reports; edits reports prepared by other auditors.
- Schedules and plans audits; initiates project planning, assess risk and develop audit direction.
- Demonstrating a comprehensive understanding of SCA Rules and regulations.
- Identifying, assessing, and mitigating risks by recommending controls across various functions.
- Assess the overall corporate risk, controls and residual risks compared to the risk appetite.
- Plan preparation and associated reports; verifies the accuracy of financial records as they pertain to assets, liabilities, receipts, expenditures, and related transactions.
- Developing the internal audit policies and procedures, current developments in accounting and auditing professions and changes in laws and regulations as applicable.
- Responsible for the development, implementation and maintenance of policies, objectives, short- and long-range planning; develops and implements projects and programs to assist in accomplishment of established goals.
- Develops and provides training to the staff of the Corporation on internal audit related matters.
- Manage the risk in the Corporation and ensure the production of a corporate risk register on an annual basis.
- Designs and implements a best practice risk management framework including policies and strategy.
- Facilitates risk management workshops where required by in identifying and analyzing all major risks annually.
- Builds the results of the risk management work into development of the internal audit program.
- Oversees and implements the plan of risk control actions (e.g. purchase of insurance or other risk financing options, health and safety measures, business continuity plans).
- Monitors management responses to risk (follow ups).
- Reporting to Management and the Audit committee and Board of Directors.
Head of Internal Audit Department
Sandan Development Company LLC / Madinat Sandan LLC
05.2018 - 05.2022
- Established the Internal Audit function within Sandan Real Estate, including the creation of an audit charter, policies, procedures, and a risk-based audit plan aligned with sector-specific risks in property development and asset management.
- Developed project-specific risk registers for major real estate developments, enabling proactive identification and mitigation of risks related to cost overruns, regulatory compliance, contractor performance, and project delays.
- Conducted multiple annual audits across various stages of real estate development projects, identifying key control deficiencies and improving project governance.
- Collaborated with project management teams to implement internal controls over budgeting, procurement, and contractor billing, leading to a 30% reduction in cost leakages.
- Implemented periodic project audit dashboards, providing executive management with real-time insight into project health, risk exposure, and control effectiveness.
- Enhanced compliance with local regulatory requirements, reducing regulatory non-conformities
- Advised on ERP system controls related to project accounting and asset capitalization, ensuring accurate financial reporting and audit trail integrity.
- Managing the Internal Audit department at Sandan Development Company and Madinat Sandan Industrial city project, reporting directly to the board of directors.
- Managing the following task and challenges: Creating corporate risk assessment.
- Developing internal audit manual and charter.
- Submitting the annual audit plan (risk based audit plan).
- Reviewing the existing controls & Developing As-Is, GAP and to-be processes reports.
- Consulting on project issues to the Audit Committee and Board of Directors.
- Reviewing the Internal Audit Programs.
- Supervision of audit recommendation and follow up reports.
- Performing consulting engagement based on nature of the processes.
- Providing Consulting and recommendation report.
Senior Internal Auditor
Oman Air Company
07.2014 - 05.2018
- Successfully supervised and led IA team on projects with the highest efficiency in conducting Core Business, Supply Chain, HR, Procurement, Communications, H&S, Flight Ops, and Training audits and station audits across MENASA region while meeting tight deadlines under pressure.
- Pre risk assessment.
- Update of department risk register.
- Controls evaluation based on process understanding.
- Conducting Field work audit.
- Preparation of internal audit programs.
- Preparation of Report finding and observations to senior stakeholders.
Part Time Instructor
CYDRA Projects
01.2013 - 06.2014
- Delivering courses to adults on a part time basis as part of CPA and CIA program.
- Delivering expert lectures for Risk Management courses.
Senior External Auditor
Talal Abu Ghazaleh & Co International (TAGCO)
01.2013 - 12.2013
- Worked with TAGCO in the Business Assurance Services as an External Audit Associate performing a wide range of Financial Statements audits for different industries such as Investment, Real Estate, Manufacturing, Hospitality, Government Entities and Retail.
Risk Consultant 2
Ernst and Young
01.2013 - 12.2013
- Performed internal audit work of a complex nature involving a high degree of problem solving and diagnostic responsibilities in a fast pace environment.
- Prepared financial audit manual and general audit methodology manual related to SAI and procurement manual for Diwan Royal Court.
- Conduct internal audit for different scopes(HR, Account & Finance, Compliance).
- Presented proposals, consultations, advice, on risk to various clients throughout Oman and GCC in a clear and professional manner.
- Performed internal audit engagements for different clients (listed below) across various industries such as: Government, Logistics, Investments, Manufacturing, Real Estate, Brokerage, Electricity.
- Carried out internal audit assignments starting with planning of audit coverage and audit engagement, understanding & analyzing the business being audited, identifying processes and risks, which will be covered during the audit review, and analyzing the target processes and risks, presenting the management with report of control deficiencies and recommending improvements.
- Successfully applied E&Y's internal audit methodologies, use of technology and tools to achieve all goals and deadlines in an efficient and timely manner.
Education
High School Certification -
National Private School (NPS)
USA 04.2001 -
High School Certification - undefined
National Private School (NPS)
Professional License - Certified Public Accountant - CPA #05919
American Institute of Certified Public Accountants
New Hampshire 04.2001 -
B.Sc. Accounting - Accounting
University of Jordan
Amman 06.2005 - 2008.09
Skills
- Internal Auditing
- Risk Assessment
- IFRS , IPPF , COSO , Risk Management
- As is & to Be Process Mapping
- Fraud Examination
- Due Diligence
- Gap Analysis
- Identifying Risks
- Achievement Focused
- Microsoft office
- Problem-solving
- Team management
Experience Years
17
Personal Information
- Date of Birth: 01/22/87
- Nationality: Jordanian
- Marital Status: Single
- Visa Status: Resident
Timeline
Head of Internal Audit Department
Noor Capital P.S.C
05.2022 - Current
Head of Internal Audit Department
Sandan Development Company LLC / Madinat Sandan LLC
05.2018 - 05.2022
Senior Internal Auditor
Oman Air Company
07.2014 - 05.2018
Part Time Instructor
CYDRA Projects
01.2013 - 06.2014
Senior External Auditor
Talal Abu Ghazaleh & Co International (TAGCO)
01.2013 - 12.2013
Risk Consultant 2
Ernst and Young
01.2013 - 12.2013
B.Sc. Accounting - Accounting
University of Jordan
06.2005 - 2008.09
High School Certification -
National Private School (NPS)
04.2001 -
Professional License - Certified Public Accountant - CPA #05919
American Institute of Certified Public Accountants
04.2001 -
High School Certification - undefined
National Private School (NPS)
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