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Head Internal Audit

Position Details

Job ID:

3574

Last Updated (mm/dd/yyyy):

2013-01-14 08:41:48 AM

Position category:

Position Name:

Head Internal Audit

Similar Experience:

60-66

Total Experience:

60-66

Project Location:

Selby

Job Type:

Permanent

Pay:

R650pa

Academic Qualification/s:

Matric

Industrial Qualification/s:

Relevant

Position Active:

No

Relocation Assistance:

No

Workpermit Assistance:

No


Job Description:

JOB PURPOSE

  • Responsible for the group strategy, marketing and human resources, group company secretarial, enterprise risk management, internal audit and compliance functions ensuring efficient and effective legal advice for the company

  • Accountable for managing the internal audit programme in accordance with the internal audit mandate and is responsible for the development, implementation and management of the Company three year and annual internal audit plans and performing audit reviews while evaluating and improving the effectiveness of risk management, control and governance processes

Competencies:

  • Strong information systems auditing knowledge and an ability to apply various internal control frameworks, risk concepts and auditing standards to perform audit assignments

  • Have a detailed knowledge of planning, supervising and performing general and application controls reviews audit reviews on all layers of computer systems (application, database, operating system, data, infrastructure etc) for data integrity and security, and an ability to ensure the effectiveness of IT and managerial controls and the accuracy of recorded data

  • Understand complex audit and financial matters, including IFRS

  • Demonstrated ability to gather, analyse and synthesise information from many sources

  • Computer literate and have experience in the preparation and analysis of audit data through computer aided audit tools (Preferably audit command language)

Qualifications and experience:

        • Matric

        • Bachelorís degree (preferably with a post graduate qualification) in business administration, accounting, computer science, MIS, or similar field. Membership of CIA, CISA and CISSP preferred

        • At least six years relevant experience with a significant portion in an internal audit role in preferably an IT company environment.

        • Experience preparing and presenting material to the Audit committee, and supervising a co-source arrangement and team preferred

Personal skills/attributes:

  • Excellent presence, credibility and communication skills (written and verbal) to influence others at all levels of the organisation

  • Has an ability to establish effective business relationships, interact with management at all levels and assist management in the understanding, adaptation and implementation of internal control principles

  • Strong overall business acumen with the ability to align governance, risk and control needs and requirements with the realities of the work environment

  • Excellent organisational skills, attention to detail, time management, project management and prioritisation skills

  • Ability to work independently and as part of a team (interacts with respect, patience and tolerance) with a commitment to service excellence

  • Demonstrates courage, integrity and honesty in accordance with highest ethical standards

  • Takes personal ownership of work and deliverables

  • Is consistently calm and focussed under pressure

  • Strong overall business acumen with the ability to align governance, risk and control needs and requirements with the realities of the work environment

  • Excellent organisational skills, attention to detail, time management, project management and prioritisation skills

  • Ability to work independently and as part of a team (interacts with respect, patience and tolerance) with a commitment to service excellence

  • Demonstrates courage, integrity and honesty in accordance with highest ethical standards

  • Takes personal ownership of work and deliverables

  • Is consistently calm and focussed under pressure

  • Openly acknowledges how things can be improved

  • Asks more experienced colleagues for advice if the situation warrants it

  • Identifies own strengths and areas for development


KEY STAKEHOLDERS


External:

  • Company board committee audit

  • Co-source partner

  • External audit

Internal:

  • Executive management

  • Senior management

  • Finance department

JOB INCUMBENTS OUTPUT: KEY ACTIVITIES

The responsibilities of this position are to ensure that the IAD fulfils the functions set out in the internal audit mandate, which in summary includes:

General:

  • To determine whether or not controls function in a manner so as to ensure that: risks are properly identified and managed and constantly monitored for quality and continuous improvement, significant financial, managerial and operating information is accurate, reliable and timely, compliance with policies, standards, procedures as well as applicable laws and regulations are adhered to, improvements and the status of implementation around information, controls, system and processes are identified and recommended


And to fulfil the following functions:

Specifics:

  • Planning and procedure: Understand the Company strategy and business objectives and develop a detailed understanding of the divisional/product house plans and strategy to focus the IADs work on the highest risks, drive the Company internal audit process; compile and obtain approval for the three and one year internal audit plans, oversee implementation of the internal audit plans and provide quarterly reporting on progress against plan, execute an efficient and effective audit approach in accordance with the plan and the internal audit budget, compile, develop and refine audit methodologies, programs, policies and procedures and other audit tools

  • Oversee audits (operational, financial, general controls and application controls reviews): Compile and agree scope for individual internal audit reviews in conjunction with line management, provide oversight and management to audits performed by IAD staff and the co-source company to include per-audit planning and analysis, customisation of audit programs, over-sight of fieldwork and review of final report

  • Perform audits (operational, financial, general and application control reviews): Compile and agree scope for individual internal audit reviews in conjunction with line management, perform internal audit reviews according to the internal audit plan and agreed scope, conduct opening engagement meetings to agree scope and timing of audit with management, gather documentation, perform audit- specific risk assessment, develop audit programs, conduct audit tests, compile draft internal audit reports reflecting results of testing, ensuring that all working papers are in line with IIA standards, engage management in discussion of findings and obtain management comments, action plans, finalise the report for review by the exco and the board committee: audit

  • Internal controls advice/analysis: Advise management on the design and implementation of cost-effective policies and procedures to ensure that internal controls are effective. Provide assurance that internal controls are efficient and effective to mitigate business risk to an acceptable level

  • compile and obtain approval for the three and one year internal audit plans, oversee implementation of the internal audit plans and provide quarterly reporting on progress against plan, execute an efficient and effective audit approach in accordance with the plan and the internal audit budget, compile, develop and refine audit methodologies, programs, policies and procedures and other audit tools

  • Oversee audits (operational, financial, general controls and application controls reviews): Compile and agree scope for individual internal audit reviews in conjunction with line management, provide oversight and management to audits performed by IAD staff and the co-source company to include per-audit planning and analysis, customisation of audit programs, over-sight of fieldwork and review of final report

  • Perform audits (operational, financial, general and application control reviews): Compile and agree scope for individual internal audit reviews in conjunction with line management, perform internal audit reviews according to the internal audit plan and agreed scope, conduct opening engagement meetings to agree scope and timing of audit with management, gather documentation, perform audit- specific risk assessment, develop audit programs, conduct audit tests, compile draft internal audit reports reflecting results of testing, ensuring that all working papers are in line with IIA standards, engage management in discussion of findings and obtain management comments, action plans, finalise the report for review by the exco and the board committee: audit

  • Internal controls advice/analysis: Advise management on the design and implementation of cost-effective policies and procedures to ensure that internal controls are effective. Provide assurance that internal controls are efficient and effective to mitigate business risk to an acceptable level

    • Expertise: Maintain a current knowledge base of audit industry practises and ensure best practise is always considered. Conduct research and enhance audit methodologies, policies and procedures and maintain an expert knowledge of the Company policies and procedures

    • Conduct/oversee investigations: Perform or oversee special investigations at the request of the board committee: audit or the executive management

    • Client service: Promote internal audit as a value add to the organisation and deliver audit services that consistently improve the control environment and achieve operational excellence. Provide business insight and communicate all audit related matters to executive management and as appropriate to the board committee: audit

    Develop IAD staff and maintain independence of the internal audit fun

Format: Skill Description (Rating 1-5,Experience in Months)
Rating: 1-Beginner, 2-Below Average, 3-Average, 4-Above Average, 5-Expert

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