Overview of the role
Perform Operational and Financial Audit in accordance with the annual audit plan to evaluate:
- The existence, adequacy and effectiveness of internal controls
- Compliance with company policies and operating procedures
- Controls on safeguarding of assets
- Economical and efficient use of resources
- Reliability and Integrity of Information
- Accomplishment of established business objectives
What you will do
Audit Plans and Programs
- Assist the Audit Manager in the development of annual audit plan by assessing the degree of risk.
- Assist in the development of audit program for each audit assignment before commencement of the audit. This should be documented as template in (AMS) with risks, control and tests to be performed.
Operational and Financial Audit
- Conduct internal audit assignment for evaluation of adequacy and effectiveness of the system of internal control and quality of performance in carrying out assigned responsibilities in all business processes/segments.
- Review the approval process to ensure that Group policies/ procedures and delegations of authorities are complied.
- Ensure that assets of the group are safe guarded
Audit Reports and Records
- Documentation of audit work in Audit Management system which can fully support the audit findings.
- Prepare professional audit reports which should clearly communicate findings, analysis, appraisals, recommendations and information concerning the activities audited.
- Audit Manager should be timely updated with key findings.
- Discuss preliminary audit findings with the concerned staff/ management in order to highlight the observations to management and to get their concurrences.
- Assist in preparation of executive summary for each engagement along with the detailed report and audit follow up form.
- Assist in the preparation of monthly summary report to be presented to Vice Chairman after it has been reviewed by line manager/Group Director – Internal Audit.
- Job holder needs to assist in the follow up on the implementation of audit recommendations
Computer Assisted Audit
- Ability to extend audit coverage to a wider and more representative population using computer-based audit techniques. E.g. use of ACL.
Human Resource Development
- Achieve high professional standards of audit performance, reports and recommendations in conformity with International Standards of Internal Audit and within the Group’s policy, procedures and long range goals
- Such consulting assignments are performed based on management request in order to establish a fact or to evaluate a specific situation
Frauds, Misappropriations, etc.
- Fraud investigation should be conducted in order to identify the loss/exposure, control weaknesses, personnel responsible and recommendation to prevent reoccurrence.
Source : www.bayt.com