Chief Accountant

Chief Accountant – Drive Financial Excellence at ABYAT

Join ABYAT, the leading retail destination in the Middle East, where innovation meets unparalleled customer-centric excellence. As the largest retail store in the region—spanning 22,000 square meters and offering over 22,000 premium products—ABYAT is redefining the retail experience with a curated selection of home improvement essentials, from high-end tiles and bespoke wallpapers to cutting-edge lighting and premium kitchen solutions. Since our founding in 2005, we’ve built a reputation for precision, quality, and service that exceeds expectations.

Today, ABYAT is expanding its footprint across the Middle East, with strategic growth in Saudi Arabia, Qatar, and the UAE. As we scale, we seek a visionary Chief Accountant to lead our financial operations, ensuring seamless compliance, robust controls, and strategic financial insights that align with our ambitious growth trajectory. This is an opportunity to shape the financial backbone of a retail powerhouse while contributing to a dynamic, mission-driven organization.

About the Role

As the Chief Accountant at ABYAT, you will oversee all accounting functions with a focus on accuracy, efficiency, and strategic financial management. Reporting directly to the Finance Director, you will lead a high-performing accounting team, drive month-end and year-end closings, and ensure adherence to international financial reporting standards (IFRS), local regulations, and ABYAT’s internal policies. This role demands a seasoned professional with a keen eye for detail, exceptional leadership skills, and the ability to collaborate across departments to resolve complex financial and operational challenges.

Key Responsibilities

Your responsibilities will span core accounting operations, financial reporting, and strategic compliance, ensuring ABYAT’s financial integrity and operational excellence. Key areas of focus include:

• Accounting Operations & General Ledger Management
  - Oversee daily accounting activities, ensuring all financial transactions are recorded accurately, timely, and in full compliance with ABYAT’s policies.
  - Maintain the integrity of the General Ledger, validating journal entries, accruals, provisions, prepayments, and accounting adjustments to reflect true financial positions.
  - Assign transactions to the correct accounts, cost centers, business units, and projects, minimizing errors and enhancing financial clarity.
  - Lead AP, AR, fixed asset accounting, and intercompany transactions, resolving discrepancies with precision and efficiency.
  - Investigate and resolve accounting irregularities, implementing corrective measures to prevent recurrence.
• Month-End & Year-End Financial Closings
  - Lead comprehensive month-end, quarterly, and annual financial closings, adhering strictly to the Finance closing calendar.
  - Prepare and review balance sheet reconciliations, ensuring alignment between operational and financial systems.
  - Assess and validate accruals, provisions, depreciation, and prepayments, providing clear explanations for significant account movements.
  - Support the preparation of financial statements and management reports, delivering actionable insights to stakeholders.
  - Follow up on outstanding reconciliations, addressing aged items with urgency and transparency.
• Retail & Inventory Accounting
  - Ensure accurate accounting treatment of inventory, COGS, stock adjustments, write-offs, and provisions, aligning with retail-specific financial practices.
  - Collaborate with Supply Chain, Warehousing, Retail Operations, Procurement, and Commercial teams to resolve inventory-related accounting discrepancies.
  - Review inventory reconciliations between operational and financial systems, identifying and addressing variances promptly.
  - Support physical inventory counts, investigating material discrepancies and recommending corrective actions.
  - Oversee supplier and customer transactions, ensuring compliance with contractual and financial obligations.
• Financial Controls & Compliance
  - Enforce strict adherence to IFRS, company accounting policies, Delegation of Authority, and local regulatory requirements.
  - Implement and maintain robust financial controls, ensuring proper segregation of duties and mitigating risks.
  - Ensure comprehensive supporting documentation and audit trails for all financial transactions, fostering transparency.
  - Support internal and external audits, providing timely schedules, documentation, and insights to facilitate smooth auditing processes.
  - Follow up on audit findings, implementing corrective actions within specified timelines.
  - Manage VAT, Zakat, and other statutory compliance requirements, ensuring seamless adherence to tax regulations.
• Financial Reporting & Strategic Analysis
  - Prepare and review periodic accounting and financial reports, translating complex data into clear, strategic insights for leadership.
  - Conduct in-depth analysis of financial trends, identifying opportunities for cost optimization and revenue enhancement.
  - Partner with business units to align financial strategies with operational goals, driving sustainable growth.
  - Develop and maintain financial forecasting models, supporting data-driven decision-making across the organization.

This role is ideal for a seasoned Chief Accountant who thrives in a fast-paced, retail-driven environment and is committed to fostering financial excellence. If you are a strategic thinker with a passion for driving operational efficiency and compliance, we invite you to be part of ABYAT’s journey toward retail leadership in the Middle East.