Job Purpose
- Assist Manager in developing and executing the Annual audit plan, and take a lead role in the day to day execution of internal audits
- Contribute to the Internal Audit (IA) function by identifying risks associated with business objectives and evaluating the controls in place to mitigate those risks in order to improve the effectiveness of risk management, control, and governance processes
- Ensuring completion of Audit plan as per schedule for empanelled external auditors and providing guidance and support to them in execution of Audits
- Provide value-added advice and support to business partners on the creation or modification of policies, procedures, processes, products or services to ensure an appropriate level of internal control and compliance is maintained.
Responsibility areas & Key Performance Indicators:
1.Planning:
- Engaging with the Auditee for finalization of dates of Audit engagement and Assisting the Manager in the collecting information and documents relevant to be used for preparation of Audit Planning Memorandum (APM)
- Identifying transactional discrepancies/inconsistencies in data extracted form ERP/MIS through Auditing Tools, Exception Reports or Manual Analysis
- Participate in opening meetings with Auditee to explain the scope and objectives of the audit engagement to Auditee and provide an overview of all steps in the audit process.
- Develop a thorough understanding of business processes in scope for assigned audits and document the processes in flowcharts and/or process narratives. Identify and document inherent risks and controls within the business processes
2. Fieldwork
- Develop a risk based test plan by selecting appropriate audit approach, test procedures and sampling criteria based on professional judgment and departmentally defined internal audit methodology
- Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives. Identify and document control and process weaknesses and provide evidential support for findings
- Propose practical and value added recommendations to address control weaknesses and/or process inefficiencies
- Organize and reference work papers for review by Manager, Internal Audit
- Participate in closing meetings with Auditee at the end of fieldwork, providing clear explanations for identified issues
3. Reporting
- Assist in the preparation of a concise and informative audit report to effectively communicate the findings and recommendations to the auditee and senior management.
- Assist in preparation of Presentation on Major Observation to Auditee Hierarchy/Audit Committee
4. Other Responsibilities
- Pursuing for closure of open audit issues
- Supports the Manager, Internal Audit in the development and implementation of the evolving IA methodology
- Provide consultative support to unit with regard to the adequate design and execution of risk management processes