Internal Auditor

Job Purpose

The Internal Auditor will be responsible for conducting financial audits, analyzing financial data, preparing audit reports, ensuring compliance with laws, regulations, and internal policies, and communicating audit findings to management. The role will require strong analytical skills and a thorough understanding of finance.

Key Responsibilities:

The Internal Auditor conducts independent and objective audits to assess the effectiveness of an organization’s internal controls, risk management, and governance processes. They provide recommendations to improve operations, ensure compliance, and enhance the efficiency and effectiveness of organizational processes.

 Audit Planning:

 Develop and implement an annual audit plan using a risk-based approach.
 Identify key areas of risk within the organization and plan audits to address these risks.

Internal Control Evaluation:

 Identify internal control issues for key risk processes promptly to proactively avert losses
 Evaluate the effectiveness of internal controls in mitigating risks.
 Assess compliance with internal policies and procedures, as well as external regulations.
 Test and review the reliability and integrity of financial and operational information.

Audit Execution:

 Conduct audits in accordance with the audit plan, including financial, operational, compliance, and IT audits.
 Perform spot checks on key areas such as petty cash, Receivables, physical stock, etc
 Perform detailed analysis and testing of processes, transactions, and controls.
 Document audit findings, prepare work papers, and gather sufficient evidence to support conclusions.

Reporting:

 Prepare and present clear, concise, and timely audit reports to management and the audit committee and ensure successful completion of assigned/planned audit engagements.
 Communicate audit findings, recommendations, and action plans to relevant stakeholders.
Follow up on the implementation of audit recommendations and corrective actions.

Risk Management:

Identify and assess organizational risks and recommend strategies to mitigate them.
Monitor and evaluate the effectiveness of risk management processes and controls.

Compliance:

Ensure compliance with relevant laws, regulations, and industry standards.
Assess, evaluate, and advise management on how to achieve statutory/ legal compliance
Review and assess the organization’s adherence to internal policies and procedures.

Continuous Improvement:

Identify opportunities for improving efficiency, effectiveness, and economy of operations.
Recommend enhancements to internal controls, risk management, and governance processes.

Stakeholder Engagement:

Collaborate with management and staff to promote a culture of risk awareness and control consciousness.
Serve as a trusted advisor to management on matters related to internal controls and risk management.
Maintain regular communication with the Board and regulators on all matters of governance and/or compliance
Undertake any other tasks as assigned by the MD/CFO or the board from time to time.

 Training and Development:

Stay current with industry best practices, regulatory changes, and emerging risks.
Participate in professional development and continuous education opportunities.
Provide training and support to staff on internal controls and risk management practices.

Qualifications

Bachelor’s degree in Accounting, Finance, Business Administration, or related field; CPA, CIA, or CISA certification preferred.
Member of ICPAK in good standing
Minimum of 4 years of experience in auditing, accounting, or a related field.
Proficiency in audit software and tools, ERP systems, and Microsoft Office Suite
Previous experience in preparing Audit Reports and Financial Audits
Excellent communication and interpersonal and Analytical skills
Ability to work independently and collaboratively
Attention to detail and strong problem-solving abilities
High level of integrity and ethical conduct.

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