This role provides independent and objective assurance and consulting services to both the Board and Management designed to improve governance and operational efficiency, whilst reducing risk.
Development of Internal Audit Plans
Leads and directs development and implementation of a comprehensive risk based internal audit plan and agenda to evaluate the effectiveness of internal controls, determine compliance with policies, procedures and regulations and make recommendations to increase efficiency or effectiveness of the organization’s control systems.
Sets and defines the appropriate risk-based methodology, including any risks or control concerns identified by WUC Board, Shareholders , Management or external auditors.
Internal Audits, Consulting and Advisory Services
Develop and establish a quality assurance program to ensure that appropriate quality controls are in place and that audits are conducted in accordance with accepted auditing standards
Provide consultancy services by advising Management and the Board on risks related to strategic initiatives, new operational and financial systems including potential evolving business needs as well as compliance matters.
Oversee the delivery of consulting and advisory services provided by the Audit team.
Reporting and Governance Structures
Establish the appropriate governance structures
Develop the terms of reference for all audit governance structures
Define the reporting requirements for internal and external stakeholders (Board & Shareholders) in order to ensure that the audit team timeously highlights the relevant risk areas.
Report periodically to the Board on the status and results of the annual audit plan.
Report the results of an internal audit quality assurance and improvement program to the Board and Corporation's Management team.
Commission the assessment every five (5) years by qualified independent reviewer or review team from outside of WUC.
Report on emerging trends and successful practices in internal auditing.
Report on regulatory pronouncements and issues affecting internal audit.
Risk Evaluation & Assurance
Sets the direction for the identificaiton of factors that give rise to risk areas through an assessment of the corporation’s processes and control environment.
Accountable for the evaluation of internal controls to determine if any material weakness or significant deficiency exists and formulates recommendation.
Directs and commissions the execution of internal investigations to address any Governance, Risk and Compliance incidents.
Set the strategy and approach for the execution of fraud investigations.
Manages the relationship with appointed independent specialist firms.
Reviews the plans eminating from the findings of the independent investigate experts.
Oversees the resolution of all fraud audit exceptions.
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Requirements, Education and Experience
A Bachelor’s Degree in Commerce, Accounting, Auditing or related field
ACCA/CIMA/CIA/CISA/BICA/CA professional qualification
Membership of internationaly recogzined institutions for Accountantss or Auditors
7 years experience including 5 years’ management level experience developing, controlloing and admnistering financial and operational audits