1. Internal Audit Strategy and Planning:
• Develop an internal audit risk management strategy by creating a comprehensive strategy that aligns with the organization’s goals and objectives. This includes establishing the scope and objectives of the audit function and Risk management framework
• Define the internal audit strategy in alignment with the organization's objectives, risk appetite, and regulatory requirements. Determine the scope and frequency of internal audit activities
• Develop an annual audit plan based on a risk assessment and input from key stakeholders.
2. Risk Assessment and Mitigation:
• Evaluate internal controls & assess the effectiveness of the organization's internal controls and governance processes.
• Identify opportunities to enhance the efficiency and effectiveness of the internal audit function.
• Conduct risk assessments across various business functions and processes to identify potential control weaknesses, operational inefficiencies, and areas for improvement.
• Design and implement risk management strategies to mitigate identified risks, enhance internal controls, and safeguard company assets.
3. Internal Audit Execution:
• Lead and supervise internal audit engagements, ensuring they are conducted professionally, efficiently, and in accordance with internal audit standards and protocols.
• Review audit workpapers, findings, and recommendations to ensure accuracy, relevance, and objectivity.
• Monitor progress and follow up on the implementation of corrective actions and recommendations.
• Execute and lead complex and high-risk audit assignments, including financial, operational, and compliance audits.
4. Compliance and Regulation:
• Develop and implement best practices, methodologies, and tools. Stay informed about emerging trends and advancements in internal audit practices.
• Foster a culture of integrity, ethical behavior, and compliance throughout the company, promoting awareness and understanding of internal audit processes
• Stay abreast of changes in regulatory requirements, accounting standards, and industry best practices to ensure that the internal audit function remains in compliance and up-to-date.
• Collaborate with legal and compliance teams to address any compliance-related issues and enhance the organization's overall risk management framework.
5. Reporting and Communication:
• Reviewing and communicate audit findings, recommendations, and action plans effectively to key stakeholders, fostering a culture of accountability and continuous improvement.
• Advise management on emerging risks and regulatory changes.
6. Team Leadership and Development:
• Collaborate with Talent Acquisition to in recruit, train, and develop a high-performing internal audit team capable of delivering quality audit services.
• Lead and manage a team of internal auditors, providing guidance, training, and performance evaluations to ensure the team's effectiveness.
• Provide guidance, mentorship, and regular performance feedback to team members, fostering their professional growth and development.
7. Stakeholder Engagement:
• Collaborate with various departments, business units, and external auditors to ensure effective coordination and cooperation in audit activities.
• Cultivate strong relationships with senior management, promoting open communication and trust within the organization.
