Plan the design and implementation of internal audit strategies and policies ensuring overall assessment of internal controls, risk management and governance.
KEY RESPONSIBILITIES:
- Oversee the development, review, implementation and effective maintenance of the internal audit charter in order to provide direction for all internal audit activities
- Oversee the development, updating and maintenance of the internal audit manual and other audit documents to ensure compliance with the Institute of Internal Auditors Standards (IIA) professional guidelines
- Direct and guide the preparation of Terms of Reference in the planning stage and the testing strategy during fieldwork to achieve the objectives of the audit assignment and the related nature and extent of testing (substantive testing vs. detailed analytical review)
- Develop and seek approval from the Secretary General and Audit and Risk Committee for the internal 3-year risk-based annually updated internal audit plan, based on the assessment of risks conducted in line with the Strategic Planning Office, to systematically cover the various risk areas in the business environment
- Support in reviewing and evaluating the risks identified during the Corporate Risk Assessment process including their nature, impact and likelihood and support the identification of controls (through audit work) to mitigate risks and ensure that the risk management process is effective and adequate
- Plan and lead the execution of special investigations/work requested by the Secretary General (SG) and/or the Audit and Risk Committee to facilitate the identification and rectification of critical issues
- Monitor the implementation of the 3-year risk-based annually updated internal audit plan and make necessary changes, with the approval of the Audit and Risk Committee, to ensure objectives are met and corrective action is taken when required
- Ensure effective identification of the significant risks and corresponding processes and develop audit objectives for each audit assignment
- Review all internal controls through external audits and monitor the financial effectiveness of internal systems, ensuring adherence to legal and fiscal requirements
- Oversee the development, review, implementation and effective maintenance of the internal audit charter in order to provide direction for all internal audit activities
- Oversee the development, updating and maintenance of the internal audit manual and other audit documents to ensure compliance with the Institute of Internal Auditors Standards (IIA) professional guidelines
- Direct and guide the preparation of Terms of Reference in the planning stage and the testing strategy during fieldwork to achieve the objectives of the audit assignment and the related nature and extent of testing (substantive testing vs. detailed analytical review)
- Develop and seek approval from the Secretary General and Audit and Risk Committee for the internal 3-year risk-based annually updated internal audit plan, based on the assessment of risks conducted in line with the Strategic Planning Office, to systematically cover the various risk areas in the business environment
- Support in reviewing and evaluating the risks identified during the Corporate Risk Assessment process including their nature, impact and likelihood and support the identification of controls (through audit work) to mitigate risks and ensure that the risk management process is effective and adequate
- Plan and lead the execution of special investigations/work requested by the Secretary General (SG) and/or the Audit and Risk Committee to facilitate the identification and rectification of critical issues
- Monitor the implementation of the 3-year risk-based annually updated internal audit plan and make necessary changes, with the approval of the Audit and Risk Committee, to ensure objectives are met and corrective action is taken when required
- Ensure effective identification of the significant risks and corresponding processes and develop audit objectives for each audit assignment
- Review all internal controls through external audits and monitor the financial effectiveness of internal systems, ensuring adherence to legal and fiscal requirements
- Support senior leadership, through assurance and consultancy work as well as the development and effective implementation of internal controls to ensure protection of company assets, maximum risk mitigation and compliance to statutory requirements
- Lead the closing meeting with internal stakeholders following audits of their sector/division to discuss the issues raised and recommend remedial actions
- Manage the communication of conclusions and recommendations to the Audit and Risk Committee, Secretary General and Executive Management Committee to highlight areas of environmental, legal, financial, system and operational risks
- Oversee the review of audit reports prepared by auditors for each program to ensure comprehensiveness and accuracy of key observations and findings, provision of value-added recommendations and ensuring the main audit concerns are addressed
- Perform any other duties as requested by the reporting manager
