Expert finance team manages dollars in the desert
The Finance and Accounting Department is one of the most intricate processes to manage. It is a continuous process of checks and balances to ensure all accounts and department expenses are correctly handled. Complicating this process further is having to comply with multiple policies and laws of the countries involved. Often there is only a small window in which to ensure compliance and address all guidance and laws—and frequently there is conflicting guidance.
Our S&K Aerospace Middle East Branch has been continuously adapting to the Kingdom of Saudi Arabia’s daily shifting sands. And on the front lines is our MEB Finance Manager, Haroon Ahmed. The implementation of the Saudi Vision 2030 is bypassing state institutions and processes, creating a public policy crisis. In a recent Carnegie article, the crisis and challenges were examined. The article stated that policy formulation, a naturally lengthy and cumbersome process—from conducting thorough policy analysis, running consultations, developing sound policy instruments, and building frameworks for coordination—has become merely a brainstorming exercise used to present or formulate strategic documents.
This has been especially challenging in the financial area. As an example, the local Saudi government recently imposed laws completely dictating and controlling the financial process. The government has a direct link to each company’s bank account, and it can lock the company’s account without prior notice if any of the government’s requirements are not met. These changes do not come from a law that is drafted and debated with public knowledge and input. The laws are formulated and implemented with little or no public notice before implementation. And frequently conflicting laws appear across multiple government sectors, illustrating the ill-thought nature of policymaking in the Kingdom and the urgent need to enhance the process.
Battling such constant changes requires an extremely well-coordinated and knowledgeable finance team. Under the leadership of Haroon, our finance team has done an exceptional job of keeping abreast of the continuous government changes while simultaneously fully complying with our corporate policy and U.S. laws and accounting principles.
Haroon is one of the most influential members of the MEB team. He is an outstanding leader and mentor and his team flawlessly carries out the incredible task of meeting the finance/accounting department’s demands and fully complying with the changing laws of Saudi Arabia. From Government Monitored Payroll to meeting with external auditors and coordinating with U.S. corporate finance and our customers, Haroon has managed to keep the process flowing and on track; this is directly leading to the success of S&K programs in the Kingdom of Saudi Arabia.
Pictured above: The S&K Aerospace Middle East Branch Finance Team. Left to right are Adnan Rafiq, Accountant, Ahmed Bhatti, Senior Accountant, Haroon Ahmed, Finance Manager, Shahzaib Khan, Accountant, and Taha Haroon, Accountant.