AMODU FRIDAY OCHIDI
Lagos
Summary
Financial manager and Accountant with over 10 years of progressive experience in financial management, accounting, taxation, and audit. Proven track record in enhancing business growth through strategic budgeting and effective financial reporting. Demonstrated ability in driving compliance with IFRS and local regulations while increasing operational efficiency through improved internal controls.
Overview
1
1
Certification
12
12
years of professional experience
Work History
Financial Accountant/Chief Finance Officer
Amaget Stores Ltd
09.2021 - Current
- Oversaw accounts payable and receivable, ensuring timely processing of invoices and payments to maintain cash flow management.
- Managed comprehensive financial audits, identifying discrepancies and recommending corrective actions to enhance financial integrity.
- Reconciled monthly bank statements and resolved discrepancies.
- Conducted variance analysis, comparing budgeted figures to actual outcomes, providing insights that informed financial planning.
- Helped departmental managers develop and optimise inventory controls.
- Analysed financial data to identify trends and forecast future financial performance, supporting strategic decision-making.
- Oversaw journal and ledger entries, and closed books.
- Prepared detailed monthly financial reports, including the statement of financial position and financial performance, for management review.
- Evaluated account information to prepare assets, liabilities, and capital account entries.
- Maintained an updated chart of accounts procedures, including current, accurate details.
- Updated general, sales, and purchasing ledgers on schedule and verified information against documentation.
- Collaborated with leadership to implement a strategic budget, yielding improved process efficiency, leading to a 30% reduction in financial discrepancies and a 25% increase in profit margins
- Mentored a finance team, enhancing team productivity by 25%
- Developed internal control framework that decreased audit findings, enhancing compliance and financial integrity.
- Performed internal audits of financial transactions to verify discrepancies and errors.
- Led the implementation of new accounting software, streamlining financial processes and improving reporting accuracy.
- Negotiated favourable terms with suppliers and vendors, significantly reducing operational costs without compromising quality.
- Collated information and generated data to enumerate financial status and developments.
- Forecasted loss and revenues to balance risk and benefits, aiming to meet target goals.
- Established procedures and controls to keep staff in compliance with accounting standards, regulatory requirements and budget targets.
- Contributed to the development of financial policies and procedures, promoting transparency and accountability in financial management.
- Coordinated external audits, providing all necessary documentation and explanations to ensure compliance with financial regulations.
- Monitored cash flow projections regularly, adjusting strategies to address shortfalls and surplus to optimise financial health.
- Prepared accurate returns and represented taxpayers in disputes with tax officials.
- Modified comprehensive financial reporting package to reflect organisational growth and expansion.
- Provided comprehensive tax planning and compliance support, minimising liabilities and maximising returns within legal frameworks.
- Addressed operational inefficiencies and improved financial governance through optimised accounting processes.
- Reviewed accounting methodologies to recommend financial actions and improve strategies.
- Led cost-reduction initiatives, identifying inefficiencies and implementing solutions to reduce expenses and improve profitability.
Accountant
Technology Distribution Limited (TDAfrica Distribution Ltd)
06.2015 - 09.2021
- Managed accounts payable and receivable, ensuring timely invoice settlements and optimising cash flow management.
- Managed accounts receivable and ledgers for a portfolio averaging $1M per month
- Prepared bank reconciliation statements with a 99% accuracy rate
- Analyzed and resolved audit discrepancies, maintaining flawless accounting records
- Completed detailed reviews of accounts and bookkeeping records to verify compliance with standards.
- Analysed financial data to produce monthly reports, providing insights into company performance for stakeholders.
- Recorded daily transactions in Microsoft Dynamics, streamlining the process by 20%
- Coordinated with external auditors during annual reviews, facilitating a transparent and efficient audit process.
- Addressed operational inefficiencies and financial governance issues by implementing optimised accounting processes.
- Ensured timely compliance with local government levies, optimizing costs and reducing penalties.
- Monitored legislative changes affecting finance and tax, adapting company practices to remain compliant.
- Kept internal financial controls aligned with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
- Led budget forecasting activities, collaborating with department heads to align financial strategies with organisational goals.
- Conducted investigations into financial records and suspected malfeasance, enhancing oversight and accountability.
- Conducted investigations into financial records and suspected malfeasance, enhancing oversight and accountability.
Audit Trainee
HDA Audit
02.2014 - 06.2015
- Prepared financial statements compliant with IFRS for multiple clients
- Identified and remediated internal control weaknesses, implementing solutions that strengthened financial integrity
- Collaborated in statutory audits, improving compliance scores by 20%
- Developed audit schedules to streamline workflow and improve overall audit efficiency
- Conducted audits of financial records to ensure compliance with regulations.
- Analysed client financial statements with meticulous attention to detail.
- Developed and prepared audit documentation, drafting reports and financial statements for management review.
- Compiled evidence and documentation to support audit conclusions and recommendations.
- Liaised with client representatives to gather necessary documentation and clarify audit queries.
- Assisted senior auditors in planning and executing operational audits, contributing to detailed audit reports.
- Analysed accounts, reconciling financial reports and records to verify accuracy.
- Participated in team meetings to discuss audit findings and strategise on addressing identified issues.
- Supported audit processes for clients across various industries, increasing efficiency by 15%
- Delivered presentations to audit team members on specific audit areas, sharing insights and best practices.
- Reviewed internal controls and procedures to recommend enhancements, mitigating risks and improving compliance
Education
Bachelor Of Science - Accounting
Caleb University
Lagos06-2019
National Diploma - Accountancy
The Federal Polytechnic Kaura Namoda
Kaura Namoda, Zamfara State06-2014
Skills
- Financial strategy
- Budgeting & Cost Control
- IFRS & Statutory Reporting
- Tax compliance
- Audit management
- Cash Flow & Treasury Management
- Risk management
- Microsoft Dynamics
- Management accounting
- Analytical skills
- Problem-solving
- Negotiation
- Communication
- Team leadership
Certification
Associate Chartered Accountant In Progress, Institute Of Chartered Accountants Of Nigeria (ICAN)
Languages
English
Hobbies and interests
- Reading and research
- Football and fitness
- Music and choir activities
- Traveling
- Writing and public speaking
- Financial analysis and investment research
Reading business and economic journals
References
On Demand
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Financial Accountant/Chief Finance Officer
Amaget Stores Ltd
09.2021 - Current
Accountant
Technology Distribution Limited (TDAfrica Distribution Ltd)
06.2015 - 09.2021
Audit Trainee
HDA Audit
02.2014 - 06.2015
Bachelor Of Science - Accounting
Caleb University
National Diploma - Accountancy
The Federal Polytechnic Kaura Namoda