Mr. Sleems is the founder and In – Charge Director. Responsible to ensure quality control and adherence to firm stated mission and philosophy. A qualified Certified Public Accountant in the USA and a practicing member of Lebanese Association of Certified Public Accountants, previous President of the (LACPA) the Lebanese Association of Certified Public Accountants (2006-2008). He has over forty years of proven expertise. Conducted over 400 internal and external audits in banking and financial institutions, insurance companies, contractors, hospitals, hotels, manufacturers, not-for-profit organizations, retailers and many other business entities. Corporate finance experience included assignments for litigation support, due diligence, claims for losses, and business valuations. Consulting services included reengineering of investments and accounting functions, development of financial policies and procedures, review of financial systems, training on International Accounting Standards and strategic planning.
HIKMAT SLEEM, CPA.
HikmatSleem, CPA is the former President of the Lebanese Association of Certified Public Accountants (LACPA)2006 to2008 and steered the strategic direction of LACPA with respect to regulatory affairs, international standards and quality of the audit process, and professional ethics, among others.
Also member of the American Institute of Certified Public Accountants (AICPA) since 1991.
Hikmat has versatile international experience in the best practices of top ranking global corporates and financial institutions. His ability and willingness to share difficult issues, with discretion and patience, has helped businesses to grow. His areas of expertise include external and internal auditing, provision of accredited training on International Financial Reporting Standards (IFRS/IAS) and International Standards on Auditing (ISA) & Quality Assurance Standards including requirements under Basel Accord II for commercial banks; management consultancy; loss adjusting, due diligence and deal structure; adhoc advisory reporting; and other related professional services.Throughout his professional career, Hikmat has conducted statutory compliance audits and quality audit services for hundreds of banks and financial services institutions, insurance companies, contractors for mega projects, large hospitals, five-star hotels, manufacturers, retail chains, not for profit organizations, and many economic sectors.
Hikmat’s work experience covered the following principal activities:
- Administration of the performance of external audit engagement planning, fieldwork, identification, development and documentation of audit issues, recommendations for corrective actions, and audit reporting
- Managing the implementation of external audit procedures including audit scheduling and adherence to audit methodology
- Appraisal of the accuracy of financial records and other information and verifying that all compliance procedures have been followed with particular regard to key internal controls over assets held at other locations, safe-keeping arrangements, due custody; and assuring that all laws, regulations, and statutory obligations have been complied with and reporting on any regulatory investigations
- Managing staffing needs including hiring, training, developing and evaluating staff, and taking corrective action on staff performance by providing training and guidance
- Provision of continuous assurance to enable the clients to systematically meet and fulfill their ongoing regulatory and business expectations through the proper execution of the external audit plan[s]
- Analysing the security and effectiveness of internal compliance and operating procedures to ensure the security of the client’s Information Technology [IT] system[s] and reporting on any reportable conditions, material weaknesses, and making recommendations for corrective action and loss-prevention procedures for the security of assets
- Documenting the consideration of significant matters arising on all audit reports and the respective responses and maintenance of a corrective action log for reference at each meeting with client management to monitor progress with audit observations and recommendations
- Reviewing press releases related to client’s financial information;
Developing an annual risk assessment to develop the strategic external audit plan for understanding the identification and detection of fraud
- Due diligence for mergers and acquisitions, business reorganization and recovery.
AREAS OF EXPERTISE
[a] External Audit [Listed Companies, Financial Institutions (banks and electronic money institutions), clearing institutes, insurers, and pension funds]; [b] Management Audit;[c]Forensic Accounting; [d] Private Equity; [e] Initial Public Offering [IPO];[f] Formation of Companies and Establishments; [g] Project Finance; [h] Anti-Money Laundering – implementation of regulatory stipulations; [i] Human Resources Administration; [j] Transaction Services [Mergers & Acquisitions]; [k] Business Reorganization, Recovery, and Business Risk Solutions; [l] Litigation Support, Succession and Estate Planning;
[a] Manufacturing; [b] Trading & Retail;[c]Financial Services & Insurance; [d] Holding Investments and brokerage; [e] Hospitality, Travel &Tourism, and Leisure sectors;[f] Property Development & Real Estate; [g] Public Utilities; [h] Family-owned Businesses; [i] Free Trade Zones – ‘One-stop’ Shop Professional Services; [j] Professional Education and Training.
- Member of American Institute of Certified Public Accountants (AICPA) with a Practice License from the State Board of Oregon, USA
- Member of the Lebanese Association of Certified Public Accountants (LACPA)
- Director and Member of the Arab Society of Certified Accountants (ASCA)
- Member of the Technical Advisory Committee of ASCA for Lebanon
- Member of the Union of Arab Accountants and Auditors
- Expert to Lebanese Courts in Accounting.