Senior Internal Audit
Job description / Role
Employment: Full Time
Managerial – Strategic Planning
• Participate in the development of sectional/departmental objectives and plan and in line with ADAC’s strategic performance management framework and scorecard
• Maintain knowledge on new and existing KPI requirements and its linkage to corporate KPIs and ADAC’s strategic performance management framework and scorecard.
• Provide input towards budget preparation for the department
Corporate Performance Management
• Achieve the objectives of the department and support colleagues in achieving the same
• Assist the Head of Internal Audit in delivering a risk-assessment for different processes, departments, and/or activities of ADAC, if required.
• Assist the Head of Internal Audit in preparing and implementing department policies, procedures and controls covering all areas of Internal Audit department activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to customers.
• Perform audit assignments (financial, operational, compliance, etc.) in compliance with ADAC’s audit policies and procedures, International Accounting Standards (IAS), regulatory requirements and agreed time budgets and ensure the application of relevant audit management frameworks, tools and software
• Manage the resources within the consigned audit assignment and ensure timely completion of the assigned audit
• Prepare/review system notes prepared for processes under review and identify key risks and controls in place to mitigate such risks Apply/Execute engagement work programs for audited processes.
• Report on the execution of audit programs during each engagement to the Head of Internal Audit to ensure that fieldwork is being performed in accordance with audit programs.
• Provide support and initiate actions upon the identification of fraud cases based on directions of the SVP Internal Audit.
• Assist the Head of Internal Audit in drafting detailed audit reports and final working papers.
• Participate in the assessments and evaluations of ADAC’s policies and procedures to ensure that adequate controls are designed to mitigate associated risks, identify and report on possible improvement opportunities to departmental policies and procedures to promote effectiveness and efficiency of operations.
• Evaluate the adequacy and effectiveness of internal controls including the risk management processes, Identify new/emerging risks, if any, and determine whether the same warrants any additional work
• Maintain effective relationships with all departmental personnel with highest standards of business ethics.
• Conduct reviews of internal audit team members’ work papers and ensure that they adhere to the internal audit standards, contains sufficient supporting information / documentation and have been properly referenced
• Conclude clearly on each step assigned (based on evidence gathered and testing performed) whilst bearing in mind that the internal controls being tested are suitable, efficient and effective and the audit objective has been met
• Assist Head of Internal Audit in preparing reports to the SVP Internal Audit.
• Prepare detailed reports post audit exercise to provide updates to the Head of Internal Audit recognize and evaluate the materiality and significance of audit issues and recommend appropriate means for obtaining compliance.
• Lead/participate in the validation meetings and ensure the timely preparation of draft audit report for submission to the SVP Internal Audit
• Assist in carrying out ad-hoc reviews to investigate any areas identified by SVP Internal Audit.
• Ensure any weakness/concerns are discussed with the relevant auditee, audit exceptions are raised, and related risks highlighted and recommend corrective improvements which are feasible and value-adding
• Attend close up meetings and ensure the timely preparation of draft audit report for submission to the SVP IA.
• Conduct/support investigation of fraud, when needed, and other types of operational misconduct in addition to increasing the awareness level of fraud within ADAC
Organizational – Governance
• Maintain awareness and adherence to the department’s policies and procedures
• Provide inputs in the periodic audit of the established policies and procedures
• Contribute to the development of periodic reports, as requested by SVP IA / Head of IA
• Prepare audit status reports of ADAC stating work done, scope, findings, observations and recommendations
• Support the execution of change management activities in the department.
• Identify and contribute to the definition of technology-related needs of the department in order to drive automation within the direct line of work
• Assist in monitoring accuracy & timely updating and maintenance of the Audit Software (e-governance portal or any other software) in order to ensure availability of up-to-date information for management decision making and to coordinate with the subsidiaries to ensure effective utilization of such software by the internal audit staff Professional Development
• Proactively identify and seek professional development opportunities to improve technical skills pertaining to the direct line of work and in line with ADAC’s values.
• Define an optimum organization and staffing structure for the Internal Audit department so that resources are optimally utilized and communication can take place in an efficient manner (in coordination with the HR Department)
QUALIFICATION / EDUCATION
• Bachelor’s Degree in in Accounting or a related field a related field from an accredited institution.
• Must have a minimum of one professional certification (i.e. CPA, CIA, CA, ACCA). EXPERIENCE
• Minimum of 8 years of experience in Internal Audit.
CERTIFICATIONS,KNOWLEDGE & SKILLS
To perform this job successfully, an individual must be able to perform each duty satisfactorily. The requirements listed below
are representative of the knowledge, skills, and abilities required:
• Strong background in internal audit procedures, analysing internal control gaps and preparing reports
• Experience in executing assignments and in handling multiple tasks and deadlines
• Excellent analytical skills
• Very good skills in negotiation and problem solving
• Very good writing, presentation, and communication skills
About the Company
WFC Holding was born out of a market need for specialist shared services support functions in the UAE.
WFC Holding has rapidly expanded its service offering, capability, and client base to become an integrated business process outsourcing company.
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