Divisional Director – Internal Audit

JOB PURPOSE: Plans, organizes, directs, controls and coordinates assurance engagements of all Financial, Commercial and Technical departments of the Company.

KEY OUTPUTS:

• Recommendations for improvement when internal Control Weaknesses are identified
• Draft audit reports to divisional heads soliciting responses to weaknesses identified and make appropriate recommendations.
• Develop Annual Audit Plan that covers areas of highrisk within the company and determine resource requirements
• Exception reports highlighting major control weaknesses, and recommending corrective actions submission to Audit Committee
• Staff Performance Appraisal
• Implement and keep updated, an Internal Audit Charter

KEY RESPONSIBILITY AREAS:

1. Design and implement audit plans and programmes to routinely evaluate internal controls for the entire company’s operations including contractual and policy compliance and corporate governance.
2. Develop and implement procedures to undertake periodical and ongoing internal audit of all Financial Commercial and Technical Operations of GPL.
3. Examine and evaluate the adequacy and effectiveness of the organization’s systems of internal control and quality of performance in carrying out assigned responsibilities.
4. Assess and report on the effectiveness of management systems and overall risk management system
5. Assess the financial and commercial processes to detect control deficiencies and weaknesses; develop appropriate recommendations and action plans for remediation.
6. Ensure that adequate audit steps are undertaken to verify the completeness, accuracy, ownership and valuation, as appropriate, of a transaction area or cycle
7. Formulate and develop a risk-based annual Audit Plan
8. Communicate to Senior Management and the Board/Audit Committee the impact of resource limitations on the internal audit plan.
9. Review and adjust the internal audit plan, as necessary, in response to changes in the company’s risks, operations, programs, systems, and controls.
10. Report to Audit Committee/Board of Directors any errors or irregularities and the non-compliance with/or improper application of the Laws, Regulation, Standards Terms and Conditions, Systems and Procedures and the Authorities governing the transactions of the Organisation.
11. Manage financial internal audits to ensure detailed examination and verification of journals and ledger entries, bank statements, inventories, expenditures, and other accounting and financial records, documents and systems of the entire company to ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls.
12. Ensure that audits are properly planned, documented in accordance with the Standards for the Professional Practice of Internal Auditing from Institute of Internal Auditors (IIA)
13. Manage the Department’s approved budget prudently
14. Maintain confidentiality of all information arising out of internal audit activities and all matters within the division.
15. Determine training needs for staff and other Company personnel where necessary, mentor and coach staff members.
16. Ensure the Internal Audit Department collectively possesses or obtains the knowledge, skills, and other competencies needed to meet the requirements of the Audit Plan; hold regular meetings with staff on safety codes and standards.
17. Reviews of cybersecurity systems focusing on data accuracy, data security, disaster recovery, and effective use of resources and adequacy of application and general controls
18. Responsible for all special investigations.
19. Responsible to coordinate audits with external auditors / regulatory authority/ ISOs.
20. Responsible for identification and prevention of fraud by working management to enforce this responsibility and ensuring that Internal Audit will utilize professional skepticism in assessing audit evidence and examining and evaluating the adequacy and effectiveness of the control system.