Internal Auditor

Key Responsibilities:

Audit Framework and Planning:

• Review existing audit plans to establish their relevance to existing operations
• Develop and execute a comprehensive internal audit strategy, including the identification of key risk areas, audit objectives, and methodologies.
• Establish an annual audit plan based on risk assessment and organizational priorities and obtain approval from the Audit and Risk Committee.
• Activities listed in the Annual Audit Planner are executed according to the specified time frame.
• Continuously evaluate and update the internal audit strategy to align with changing business requirements and regulatory standards.

Audit Execution:

• Plan and coordinate internal audit engagements, including scoping and scheduling.
• Conduct thorough audits of financial statements, operational processes, and internal controls to evaluate their effectiveness and compliance with policies, procedures, and regulations.
• The expenses incurred are within the approved budgetary limits and all significant material receipts and expenditures are subject to vouching.
• Perform risk assessments and identify control deficiencies or areas of potential improvement.
• Execute audit procedures, including data analysis, interviews, and documentation reviews, to obtain evidence supporting audit findings.
• Follow up on External Auditor’s observations made in their management letter.

Operational Efficiency and Compliance:

• Review the effectiveness and efficiency of the company’s operations.
• Ensure compliance with company policies, regulations, and contracts.
• All clauses of the Code of Corporate Governance applicable to private limited companies shall be adhered to.
• Evaluate the integrity and reliability of financial processes and reporting.

Information Management and Security:

• Ensure the reliability of the company’s information management systems.
• Examine the safeguarding of company assets and assess their protection measures.
• Investigate alleged fraud situations as required, and provide consulting, assurance, and facilitation services.

Performance and Compliance Monitoring:

• Compare and comment on the established operational goals and objectives.
• Observe and ensure compliance with laws and regulations.
• Assess the economical and efficient use of company resources.

Resource Assessment and Reporting:

• Maintain an objective and independent approach while conducting audits and ensure confidentiality of audit information.
• Prepare clear and concise audit reports, highlighting audit findings, recommendations, and opportunities for process improvement.
• The Internal Auditor will review and provide feedback/comment on mandatory returns and statements before they are submitted to various agencies, including SECP, to ensure compliance.
• Conduct regular assessments of the resources required for smooth internal audit operations.
• Report to the Audit and Risk Committee on a quarterly basis.
• Engage in investigations or special assignments as directed by the Audit and Risk Committee.
• Submit an annual report to the Board on audit observations and the management’s compliance and progress.

Compliance & Risk Management:

• Stay abreast of industry trends, regulatory changes, and best practices in internal auditing.
• Ensure compliance with applicable laws, regulations, and internal policies throughout the audit process.
• Identify emerging risks and potential areas of vulnerability and recommend appropriate risk mitigation strategies.
• Assist in the development and maintenance of effective internal controls and governance frameworks.
• Instances of non-compliance with company guidelines, directives, and operational rules are reported to the Audit Committee, along with the implementation status of previous reports.

Qualifications:

• ACCA, CA, ACMA, or CA finalist.
• 4-5 years of corporate experience post qualification in internal auditing, with demonstrated expertise in risk assessment, audit planning, and execution.
• Ability to challenge and to communicate effectively with senior management and non-executive directors
• Strong understanding of auditing principles, internal controls, and risk management.
• Excellent analytical and organizational skills.
• Effective communication and interpersonal skills, with the ability to interact confidently with stakeholders at all levels of the organization
• Ability to work independently and as part of a team.
• Proficiency in using audit software and Microsoft Office applications.