Internal Audit Manager

Location: ,
Job Category:
Job ID: 112437
Employment Type:
Salary:
Posted: 06.27.2024

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Occupations:

Accounting-Finance : General-Other: Accounting-Finance
Operations Management :
Sales-Retail : General-Other: Sales-Business Development

Job Description:

JOB SUMMARY

The Internal Audit Manager plays a crucial role in ensuring the effectiveness of internal controls, risk management processes, and compliance within an organization. Reporting to senior management or the audit committee, the Internal Audit Manager oversees a team of auditors and collaborates with various departments to assess and improve the organization's operations.

INTERNAL RELATIONSHIPS

• Reports to the Chief Audit Executive.
• Supervises and manages the Audit team.
• Communicates with the subsidiary managers and CFOs.

KEY FUNCTIONS

• Develop annual audit plans based on risk assessments and input from key stakeholders.
• Lead and coordinate audit engagements, including scoping, resource allocation, and scheduling.
• Conduct detailed audit procedures to evaluate the adequacy and effectiveness of internal controls, policies, and procedures.
• Document audit findings, conclusions, and recommendations in clear and concise audit reports.
• Identify and prioritize key risks facing the organization through risk assessments and discussions with management.
• Develop risk-based audit plans to address identified risks and ensure alignment with organizational objectives.
• Monitor changes in the business environment and regulatory landscape to assess their impact on risk exposure.
• Ensure compliance with relevant laws, regulations, and industry standards by conducting compliance audits.
• Stay abreast of changes in regulatory requirements and update audit procedures accordingly.
• Provide guidance and support to business units to address compliance issues and implement corrective actions.
• Evaluate business processes and internal controls to identify opportunities for improvement.
• Recommend and implement best practices to enhance operational efficiency, effectiveness, and risk mitigation.
• Collaborate with management to develop action plans and monitor the implementation of corrective measures.
• Recruit, train, and mentor a team of internal auditors to ensure their professional development and performance.
• Provide ongoing feedback and coaching to enhance the skills and capabilities of audit staff.
• Foster a culture of excellence, integrity, and continuous improvement within the internal audit function.
• Build and maintain effective relationships with key stakeholders, including senior management, the audit committee, and external auditors.
• Communicate audit findings, recommendations, and risk assessments in a clear and concise manner.
• Collaborate with management to address audit recommendations and monitor the implementation of corrective actions.
• Perform follow up reviews to ensure that recommendations are being implemented in a timely manner.
• Prepare and present audit reports to the Audit Committee, CEO and Senior Management for discussion.
• Monitor the status of audit recommendations and prepare quarterly status reports for the senior management review, approval and presentation to the Audit Committee.
• Conduct investigative audits in relation to fraud, theft and inefficiencies within the companies.
• Supervise team members.
• Attend stock counts.
• Perform any other duties in relation to internal audit.

 
QUALIFICATIONS & EXPERIENCE

• ACCA Professional Qualification or CIA Designation.
• Minimum of 3 years’ experience in internal audit at a managerial level.

COMPETENCIES

• Ability to work independently, with limited direction and guidance.
• Strong understanding of internal control frameworks, risk management principles, and regulatory requirements.
• Excellent analytical, problem-solving, and critical thinking skills, with a keen attention to detail.
• Effective communication and interpersonal skills, with the ability to interact confidently with individuals at all levels of the organization.
• Leadership qualities, including the ability to motivate and inspire team members, foster collaboration, and drive results.
• Proficiency in audit tools and technologies, as well as Microsoft Office Suite (Word, Excel, PowerPoint, etc.).
• Commitment to professional development and staying abreast of emerging trends and best practices in internal auditing and related fields.
• Excellent presentation and report writing skills.
• Supervisory, interpersonal, team and relationship building skills.
• Ability to multitask, meet deadlines and adapt to changes quickly.
• Demonstrate, integrity, values, principles and work ethics.
• Have sound knowledge of accounting principles and practices and current developments in IFRS standards.

Job Requirements:

QUALIFICATIONS & EXPERIENCE

• ACCA Professional Qualification or CIA Designation.
• Minimum of 3 years’ experience in internal audit at a managerial level.