Head of Internal Audit

KEY ROLE:
Audit the financial systems and operations of the company and ensure adherence to company policies.
- Reports to: BOD
- Relationships with internal department(s): All Department Heads
- External relationships: External Auditors and Internal Audit consultants

RESPONSIBILITIES
- Recommends Internal Audit annual budget, control and monitor the budget.
- Prepares and monitors IA- KPIs
- Monitor and conduct risk assessment and review on annual basis to incorporate changes based on changes in the business conditions
- Develop draft annual Internal Audit plan based on the risk assessment conducted.
- Receive requests (If any) from BOD Audit & Risk Committee (A&RC), CEO and other departments; review and include in the plan, depending on Internal Auditing available resources;
- Submit draft audit plan to the Audit & Risk Committee (A&RC) for review and recommendations for approval.
- Obtain draft audit plan approval from the chairman of the D after obtaining recommendations for approval from A & RC.
- Conduct audit assignments.
- Monitor the execution of Internal Audits i.e. sending announcement letter to auditees, attend opening and closing meetings, review audit programs to ensure it is complete and covers the risks faced by the processes being audited and the ability of detecting fraud;
- Conduct site visits, review audit working papers, send audit field memos and discuss with auditees and obtain their response;
- Monitor and control IA consultants.
- Review draft Internal Audit reports and discuss reports with the auditees.
- Sends draft reports to the CEO,COO,CNO & CBO and obtain their feedback.
- Present draft reports to the AUDIT & RISK COMMITTEE (A&RC), obtain their recommendations, distribute the final audit report after inclusion of AUDIT & RISK COMMITTEE (A&RC) ’s remarks.
- Monitor execution of follow up audits.
- Ensure proper maintenance of audit working paper files and other records.
- Monitor and conduct special investigation audits as requested by the BOD.
- Attend different meetings with AUDIT & RISK COMMITTEE (A&RC) and operating management.
- Review policies and procedures forwarded to Internal Auditing by various departments.
- Updating of Internal Audit charter if there is any change.
- Prepare Internal Auditing policy and procedures manual and update.
- Meetings with external auditors to avoid duplications of work carried out by both parties.
- Establish, maintain and retain effective working relationships within the Authority with all the staff.
- Attend opening of bids
- as a witness or observer on request bases.
- Prepare and present presentations to AUDIT & RISK COMMITTEE (A&RC) or operating management on request.
- Administration of the Department.
- Performance evaluation of the Internal Auditors.
- Any other task given by the AUDIT & RISK COMMITTEE (A&RC).
- Set and manage department budget
- Ensure the department’s adherence to the code of conduct.

**Qualifications**:
KPIs:

- % of engagement completed. % of follow recommendations implanted.
- % of the improved procedures
- Quality of reports
- thru conducting survey questionnaire to beneficiaries.

QUALIFICATIONS
- Bachelor degree in Accounting, Finance
- Preferably qualified CIA, CA, ACCA, CPA, CMA

EXPERIENCE
- Function specific experience: Internal Auditing
- Industry related experience: Power Transmission
- Years of experience: 10 years of relevant experience

**Additional Information**:
LEADERSHIP SKILLS:

- Delegation
- Conflict Management and Negotiation Skills

PROFESSIONAL SKILLS:

- Problem Solving
- Time Management
- Verbal and Written Communication
- Integrity, Trust and Respect
- Planning and Organization

FUNCTIONAL COMPETENCIES
- Risk Management
- Financial Acumen
- Compliance with Accounting Regulations and Principles
- Financial Analysis and Data Presentation
- Monitoring and Taking Corrective Action