Faisal Hussain: Mastering Financial Auditing and Risk Management

Written by: James Carnell

For over 20 years, Faisal Hussain has delved into the intricacies of accounting, business procedures, and organizational governance frameworks. His work in internal audit, governance, and risk management has played a vital role in identifying and managing financial risks for large organizations. Early in his career, Faisal served as a Senior Audit and Assurance Associate at Deloitte. Over a span of 5 years, he adeptly navigated the global consultancy and financial advisory firm, working in Pakistan, the UAE, and Qatar.

Faisal's tenure at Deloitte exposed him to the significance of financial governance and its impact on major businesses. With an innate passion for diving into details, identifying root causes, and extracting profound insights, Faisal's lifelong passion has become the foundation for his distinguished career. As a Certified Internal Auditor (CIA) and a Certified Control Self Assessor (CCSA), Faisal has worked across various industries and with diverse business structures.

Whether in public or private sectors, meticulous financial auditing is essential not only for managing risks, but also for safeguarding shareholders and investors, adhering to financial laws, and rooting out potential corruption. In one instance, Faisal uncovered improper sales of commercial units amounting to nearly $5.5 million. His ability to expose this risk prevented potential financial ruin for the client's organization.

In 2012, Faisal assumed the role of Senior Internal Auditor at the Bukhatir Group, one of the most diversified business conglomerates in the United Arab Emirates. With investments spanning construction, real estate, manufacturing, interior design, trading, education, information technology, and more, Faisal's capacity to understand multiple industries was critical. He worked diligently to foster relationships with business leaders, aiming to dispel the notion that he was adversarial to their positions. Prioritizing collaboration and teamwork, Faisal's efforts resulted in increased transparency, higher correction rates, and reduced friction between the internal audit function and its internal clients.

Seeking greater responsibility and fresh challenges, Faisal transitioned to Union Properties PJSC in Dubai. As the Group Senior Internal Auditor, he developed the governance and risk assessment framework for the Internal Control Department. During audits, he guided leaders in achieving compliance, understanding recommendations, and implementing safeguards to prevent recurring issues. One notable achievement was the identification of a stock, categorized as a third party, with a value exceeding $54 million. This role encompassed a blend of practical and strategic audit leadership, providing Faisal with new challenges and preparing him for his current position.

Since 2017, Faisal has served as the Manager of Group Internal Audit and Risk at Bloom Holdings PJSC. In this capacity, he collaborates directly with the Director of Internal Audit to develop the annual Internal Audit Plan and address key risk areas. Leading a team of 5 professionals has presented a fresh challenge, but Faisal has risen to the occasion and excelled.

As financial data and analytics grow increasingly complex, alongside the advent of technological tools like AI and machine learning, the importance of internal audit within organizations is on the rise. Ensuring that both computers and humans accurately quantify, monitor, and report financial information is crucial across all industries. Faisal Hussain's decades of expertise in this field have equipped him to navigate evolving industry dynamics, intricate business and technology relationships, and deepening data dependencies.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.