JAMES G. LASWAY
Dar es Salaam
Summary
Seasoned Financial Reporting Manager with a proven track record at Precision Air Service PLC and Ernst & Young, adept in financial consolidation and audit management. Excelled in enhancing compliance with IFRS, spearheading financial analyses, and mentoring teams, showcasing advanced Excel skills and exceptional client engagement. Achieved significant audit completions, demonstrating a strategic and analytical approach to financial leadership.
Overview
8
8
years of professional experience
1
1
Certification
Work History
Financial Reporting Manager
Precision Air Service PLC
11.2022 - Current
- Lead the monthly, quarterly, and annual financial reporting process for a regional airline, ensuring accuracy and compliance with IAS and IFRS
- Manage the consolidation of multiple subsidiaries' financial statements, providing senior management key insights regarding profitability, revenue trends, and cost controls
- Oversee the accounting and reporting of airline-specific revenue recognition including passenger revenue, cargo, and ancillary services in compliance with IFRS 15
- Prepare detailed financial analyses and key performance indicators (KPIs) for cost per available seat mile (CASM), revenue per passenger mile (RPM), and other industry benchmarks
- Ensure timely production of monthly management accounts to facilitate Cost control and informed decisions
- Manage the financial reporting team (4) and coordinate the finance team, ensuring timely and accurate month-end and year-end closing, journal entries, and variance analysis
- Coordinate with external auditors during annual audits, ensuring timely responses to audit inquiries and proper documentation for compliance purposes
- Ensuring proper accounting for aircraft leases (IFRS 16) and coordinating aviation insurance for aircraft
- Delivered 3 pending audits (FY2021,2022,2023) within a year audited by a big four firm
- Improved accounting for aircraft components by automating aircraft components depreciation using units of production method
Senior Auditor
Ernst & Young (EY)
09.2019 - 11.2022
- Led financial statement audits for companies in the banking, insurance, aviation, hospitality, and consumer goods sectors, ensuring compliance with GAAP and IFRS
- Conducted risk assessments and designed audit plans based on industry-specific risks, including revenue recognition, asset impairments, and complex leasing arrangements (e.g., aircraft leases for airline clients)
- Managed the entire audit process from planning to execution, overseeing teams of junior auditors and conducting meetings with clients to discuss findings and ensure resolution of issues
- Worked closely with clients to evaluate internal controls, identify gaps, and provide recommendations for improving financial reporting processes and reducing audit risk
- Coordinated the preparation of audit reports, communicating audit results and recommending improvements to corporate governance and financial reporting processes
- Assisted clients in navigating complex financial transactions such as IFRS 9, 15, and lease accounting (IFRS 16)
- Managed audits for clients with annual revenues exceeding $70 million, consistently meeting deadlines and client expectations
- Trained and mentored 5 junior auditors, contributing to the development of high-performing teams
Assistant Auditor
Ernst & Young (EY)
09.2016 - 08.2019
- Supported senior auditors in performing audits for clients in industries such as banks, retail, and insurance, focusing on financial statement accuracy and compliance
- Performed substantive testing of transactions, balances, and account reconciliations, identifying discrepancies and suggesting corrective actions
- Detect internal control deficiencies and recommend necessary corrective measures
- Compiled and prepared detailed audit working papers, including testing results and conclusions for management review
- Participated in the preparation of financial statements, ensuring proper application of accounting principles and disclosures
- Knowledge of International Financial Reporting Standards (IFRS) and International Audit Standards (IASs), practices, methods, and techniques applied in both private and public entities
- Contributed to successful audits for clients in the financial services, retail, and manufacturing sectors
Education
MBA - Finance
University of East London
Online06-2024
Bachelor of Science - Accounting And Finance
Ardhi University
Dar Es Salaam12.2016
Skills
- Financial Reporting and Consolidation
- Comprehensive Audit Management
- Financial Analysis & Budgeting
- Risk Assessment Techniques
- Client Engagement Management
- IFRS and IAS compliance
- Risk Management & Internal Controls
- Advanced Excel (Pivot Tables, Macros, Financial Models)
Certification
- Certified Public Accountant (CPA), 2020, Tanzania
- Passenger Interline Accounting and Control, 2024, International Air Transport Association (IATA)
Languages
- English, Fluent
- Swahili, Fluent
Professional Development
- Continuing Professional Education (CPE) in auditing and accounting standards
- EY Core skills for Associate auditor (South Africa) and Senior Auditor (Tanzania)
- PWC Annual IFRS update Training, 2023
Accomplishments
Member of the founding committee of the Precision Air SACCOS with over $100,000 in one year.
References
References available upon request.
Timeline
Financial Reporting Manager
Precision Air Service PLC
11.2022 - Current
Senior Auditor
Ernst & Young (EY)
09.2019 - 11.2022
Assistant Auditor
Ernst & Young (EY)
09.2016 - 08.2019
MBA - Finance
University of East London
Bachelor of Science - Accounting And Finance
Ardhi University
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