Cengiz KARAKAS

CPA, MBA

After completing my university studies and studying abroad, I began my professional journey as an assistant auditor and CPA intern. During this period, I actively supported audit activities and gained a thorough understanding of Generally Accepted Auditing Standards (GAAS) and Generally Accepted Accounting Principles (GAAP). This experience laid a solid foundation for my knowledge of auditing practices and financial reporting standards.

Following this initial role, I transitioned into a position as an internal control specialist within a Group company with an impressive annual turnover of three billion dollars. As a team leader in the Internal Control Department of the Holding, which consisted of 24 affiliated companies across 11 diverse sectors, I took on various critical responsibilities.

In addition to overseeing external audits conducted in accordance with International Financial Reporting Standards (IFRS), I played a crucial role in establishing the IFRS department within the Holding. This involved extensive training and collaboration with an independent audit firm to establish the department and ensure compliance with IFRS standards.

During my tenure as a Senior Internal Auditor at a South Korean-based company, I gained valuable experience working closely with the Korean CFO. This provided me with insights into Korean work culture, different perspectives, and reporting styles, both locally and within international firms. I also familiarized myself with SOX controls, particularly SOX 404 controls, as the company was listed on the New York Stock Exchange.

Subsequently, as an Internal Control Manager at Xerox Turkey, I conducted comprehensive internal control and process audits in alignment with Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and Xerox procedures.

I successfully completed control tests in compliance with Sarbanes-Oxley Section 404 (SOX) and oversaw various critical transactions. Additionally, I supervised the external auditing process.

In 2020, I assumed the role of CFO at Hevecmd Company, a medium-sized retail company in New Jersey. In this capacity, I focused on resolving structural issues, establishing reporting systems between branches and the head office, conducting profitability analysis, participating in budgeting processes, and ensuring overall accountability within the organization. I also actively engaged in regular audits and single audits in collaboration with Barre&Company and participated in tax-related studies to enhance our comprehensive financial services.

Overall, my experiences have provided me with a diverse range of expertise in audit, compliance, financial reporting, and management, enabling me to contribute effectively to the success of SevenHills CPA.

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A career mindset that revolves around continuous learning, personal growth, and fostering meaningful human connections.

Professional fields
License & Certificate
Organizations

My career journey, from assistant auditor to CFO, has provided me with a valuable perspective rooted in professional skepticism, keen observation of company shortcomings, and the ability to offer insightful solutions. These experiences span years of expertise condensed into a few sentences.

Ensuring audit compliance with GAAS, GAGAS, and specialized programs
Implementing and executing internal control activities in accordance with COSO standards
Ensuring compliance with Sarbanes-Oxley (SOX_404) requirements and corporate policies and procedures through control activities
Driving process improvement initiatives and optimizing organizational structure and workflow processes for enhanced efficiency and effectiveness
Overseeing and managing all accounting processes ensuring in compliance with GAAP requirements and Tax matters
Preparation of financial statements according to IFRS standards and managing negotiation processes with external auditors.

Continuing education is a highly valuable investment of time that brings great pleasure through the process of learning, researching, and conducting detailed studies. It serves as a catalyst for professionals to acquire new skills, expand their knowledge base, and ultimately enhance their performance in their respective fields.

Business Administration, 2007
Master of Business Administration (MBA), 2011
Certified Public Accountant (CPA), New Jersey
Certified Public Accountant (CPA), Istanbul
Certified Fraud Examiner (CFE)
Certified IDEA Data Analysts (CIDA)
Lean Six Sigma Green Belt
COSO Certificate

As a member of Seven Hills CPA, staying updated with the latest developments and continuously advancing professional skills is of utmost importance. This is achieved by actively following the organization’s announcements, articles, evaluations, case studies, as well as participating in conferences and seminars. By embracing this proactive approach, I ensure that I am equipped with the latest knowledge and expertise necessary to deliver high-quality services and meet the evolving needs of our clients.