1. JOB PURPOSE:
Responsible for designing the internal audit program and ensuring compliance and process adherence to defined standards by conducting financial, operational, compliance and risk audits and initiating action in instances of non-compliance.
2. PRINCIPAL ACCOUNT-ABILITIES:
Account-abilities Major Activities
Plan, design and execute the internal audit program -
Prepare the Annual Audit and Risk Assessment Program, with the Business Risk Matrix Map, and resource planning
Coordinate with Department Heads and ensure their support in the audit process and availability of resources
Plan for special audits
Prepare and submit reports for each audit to management and key stake-holders
Plan and coordinate smooth internal audit execution - Coordinate, conduct and ensure completion of operational and financial audit programs as per the approved IA program
Responsible for reviewing, monitoring, coordinating and executing the risk based audit of various business processes and sub-processes
Monitor systems and procedures laid down and ensure compliance to all activities as defined in the pre-designed audit programs for each area
Review non-compliance and seek clarification from concerned department
Coordinate and conduct Special Request audit, as per requirement of Management
Identification of areas of potential / suspected fraud or indicator thereof and suggest mitigating controls / processes.
To submit quarterly / periodical reports about the significant findings of audit to the Audit committee /Leadership team / key stake-holders.
Coordinate and follow up with departments to ensure action on corrective actions suggested - Coordinate with concerned departments for follow-up on audit findings and implementation of suggested recommendations.
Coordinate implementation of corrective action / controls for risk mitigation.
Appraise management with progress on corrective actions and delay causes (if any)
Audit the internal control systems and suggest improvements to ensure compliance to norms - To conduct checks and reviews of internal controls, systems, procedures and processes for to identify areas for cost effectiveness and system improvement
Assess the adequacy and effectiveness of the internal control, risk management and legal compliance frameworks within the organization and suggest remediation, where needed, keeping in view the requirements of the Companies Act and the Clause Listing Agreement
Train resources on controls and systems for internal audit and usefulness of the same for the organization - Plan for the resource requirement based on the audit action plan
Train functional resources on audit process and support needed from them for smooth audit process
Train people in the organization on systems and processes to be followed to ensure there are no audit observations
Enrich knowledge enabling to get better understanding of processes in various functional areas.
CA's only from Big 4 should apply