CPA, MBA, Managing Partner
Before joining UHY network as the managing partner of Beirut office during 2005, he was an executive manager in Ernst & Young with 14 years of experience in international audit firms “Deloitte & Touche, Arthur Andersen, and Ernst & Young”. Through his employment with the above international audit firms, since 1991, he has successfully provided statutory audit, operational, financial and regulatory consulting services to privately banks and insurance companies as well regulatory agencies in Lebanon and the Middle East. Currently Elie Abboud is the former president of Lebanese Association of Certified Public Accountants (LACPA)
During his professional career, he was exposed to a variety of accounting and consulting issues. He acquired a wide range of professional experience in various organizations, institutions and industries engaged in banking, insurance, transportation, real estate, healthcare, education, hospitality, contracting, investment, advertising, service, trading and manufacturing.
Elie holds a CPA certificate from California Board of Accountancy and Masters in Business Administration from Notre Dame University.
Banking Industry
During his employment with Deloitte, Andersen and Ernst & Young, Elie was the audit manager in charge on different Lebanese banks and financial institutions for around eight years namely: Byblos Bank SAL, Banque Saradar SAL, BNPI, Solifac SAL, and Credit Card Services Company-(CSC) SAL. Currently, Elie is the partner in charge for auditing two banks (UHY Andy Bryan jointly with Deloitte & Touche “ and three financial institutions.
Insurance Industry
Elie Abboud has a long outstanding experience of assisting insurance and reinsurance companies in Lebanon and Kingdom Saudi Arabia in transforming their accounting policies and financial reporting from the local standards to the international standards, in accordance with IFRS 4 requirements.
He was a member of the Andersen team (assigned from Andersen-Paris) worked on setting up an appropriate regulatory environment of the Lebanese insurance sector supervision and control role, (Phase 1 & II) based on the contractual agreement concluded with the Lebanese Ministry of Economy and Trade. During his employment with Andersen and Ernst & Young, Elie acted as the audit manager in charge on different Lebanese insurance companies, such as Medgulf Insurance and Reinsurance SAL, Al-Mashrek Insurance and Reinsurance SAL, and others.
During 2008, Elie acted as the UHY team leader involved in developing the Saudi insurance regulatory forms (prudential returns) and the lead instructor of specialized “prudential reporting” workshops arranged during 2008 and 2009 for all Saudi Insurance companies. Elie is one of three UHY partners who are acting as consultants to SAMA (Insurance Supervisory Unit) specifically in prudential reporting, IFRS 4 requirements (phase 1 and 2), and other insurance financial reporting matters.
Currently, Elie is acting as the partner in charge or independent quality control partner on four Lebanese insurance companies audited by UHY Andy Bryan, namely: Victoire Insurance SAL, Securite Insurance & Reinsurance SAL, Liberty Insurance SAL and Assalam Insurance and Reinsurance SAL, which are being audited by UHY Andy Bryan. Elie is acting as the independent quality control partner on five insurance companies in Saudi Arabia which are being audited by UHY Al-Bassam
Professional Training
Elie is an instructor at Morgan International in Beirut lecturing the American CPA and CIA since 1998, as well as DipIFR (Diploma in International Financial Reporting Standards) organized and issued by ACCA. Elie is a frequent speaker with IASeminars (a leading international training firm on IFRS’s and IAS’s) covering different IFRS’s and IAS’ at the Middle East and Europe.
Elie is a frequent speaker at insurance industry seminars in Lebanon and Kingdom of Saudi Arabia, and delivered a variety of training programs on topics including auditing insurance companies and banks, risk-based approach internal auditing, IFRS 4 Insurance Contracts (phase I & II), IAS 39, IFRS 9, IFRS 7, and basic accounting concepts and practices for insurers.