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Chief Internal Auditor

Date Posted
28th November 2016
Reference
VAC-24328
Sector
Accounting & Finance
Job Type
Permanent
Location
Georgetown
Salary
Not Disclosed

Job Summary

Responsible and accountable for the effective conduct of the internal audit programme of the Guyana Oil Company Limited, and for providing independent analysis and appraisals of the financial and operational components of GuyOil.

Job Description

DIMENSIONS OF POSITION

NATURE AND SCOPE OF THE POSITION

The Chief Internal Auditor is responsible for overseeing the execution of audit assignments of GuyOil in accordance with the relevant legislation; the Rules, Policies and Procedures and general audit approach consisting of approved audit standards, actions and objectives, and consistent with International Audit Standards.

In this regard, the Incumbent is responsible for:

  • Ensuring compliance with established accounting principles and procedures.
  • Verifying that the performance of core operations render value for money.
  • Ensuring that proper controls are effected by the institution of a comprehensive audit programme.
  • Evaluating the adequacy of the audit work performed by reviewing the audit check list.
  • Ensuring that the audit is complete in every way and, whenever necessary, by personal review of work plans, working papers, including flow-charts, internal control questionnaires, audit programmes and memoranda relating to the assignment, and that working papers and related documents support the findings and conclusions reached in these areas.
  • Confirming that an adequate review of financial statements and the audit thereof have been satisfactorily carried out.

The Chief Internal Auditor is responsible for defining the audit scope, identifying important auditing and accounting areas based on size, sensitivity or difficulty, and for developing strategies to cope with problem areas.

The Incumbent is responsible for ascertaining the staffing requirements and the deadlines for completing the various phases of each assignment; and for approving the plan and audit programmes before commencement of the detailed audit procedures.

The Chief Internal Auditor maintains contact with Senior Managers of GuyOil to understand their operations and to help with early recognition of auditing and accounting problems and on current developments and changes in their operational areas.

The Incumbent is required to conduct special audits and investigations and report to GuyOil and the Board accordingly.

The Chief Internal Auditor must determine on an annual basis the “Major Job Objectives” for each aspect of the Work Programme of the Internal Audit Department and identify and discuss with subordinates the “Key Results Areas” to be used as determinants to their performance results on a quarterly basis.

 

PRINCIPAL ACTIVITIES TO ATTAIN ACCOUNTABILITY OBJECTIVES:

  • MONITORS at appropriate intervals all operational areas to ascertain whether they are carrying out the functions of planning, organising, directing and controlling in compliance with approved policies, directives, procedures and in a manner consistent with achieving the targets, goals, and performance standards set by Management of GuyOil.
  • ACTS as an independent evaluator of control functions to assist the management and staff to effectively carry out their functions, and PROVIDES the Board of Directors and the Finance & Audit Committee with timely analyses and recommendations on all matters reviewed.
  • SUPERVISES and participates in the conduct of routine “value for money” audits.
  • KEEPS abreast   with   the   programmes   and   activities   of   the   Company’s Divisions/Departments/Service Stations/Terminals with new and amended laws and regulations, changes in systems and procedures, new techniques in management and computer applications, and with current trends in accounting and auditing theory and practice.
  • AUDITS capital projects to confirm costs and REVIEWS processes to ensure the conformity with approvals given and standard procedures.
  • CONDUCTS field visits and REPORTS on level of compliance with regulatory procedures and processes.
  • PARTICIPATES, as required, in discussions relating to the introduction, review and amendment of records, systems and procedures; as well as to the organisational performance of financial and non-financial performance of Company’s Divisions/Departments/Service Stations/Terminals.
  • ASSESSES and reviews subordinates’ performances in annual and other staff reports, and signing and countersigning such reports; MAINTAINS discipline and SETTLES grievances within Divisions/Departments/Service Stations/Terminals.
  • CONDUCTS on-the-job training; lectures in relevant training programme; and ENSURES that adequate on-the-job training is also carried out.
  • PARTICIPATES in the direction, planning and administration of GuyOil and for discussing and deciding on important matters concerning work programmes and professional matters.
  • PARTICIPATES in financial management and administrative aspects of formal programme review and evaluation exercises with respect to cost accounting and reporting, performance reporting and investment management.
  • REVIEWS and EVALUATES the Management Information System to ensure that it is defined and includes the necessary controls.
  • UNDERTAKES or ASSISTS in special investigations and inspections.
  • MAINTAINS appropriate records, including a diary relating to the audits and submission of inspection reports.
  • BRINGS to the attention of the Board of Directors and Finance & Audit Committee of any discrepancies and non-compliance of regulations in any of the Divisions/Departments.
  • VERIFIES or assists in the verification of assets.
  • COLLABORATES with the Audit Office in the conduct of audits or investigations on identified areas of concern.

 

MANAGEMENT JOB DESCRIPTION EVALUATION: QUALIFICATIONS PROFILE

EDUCATION

Membership of any of the recognized professional accounting bodies:  ACCA, IACPA, CGA, CIMA plus four (4) years’ post qualification experience in a Senior Accounting environment.

 

EXPERIENCE/JOB KNOWLEDGE

Senior Professional and other skilled workers requiring in excess of ten years in practice of skills acquired through formal courses of study, on-the-job training and considerable practical experience. Knowledge of a wide range of principles, practices and skills in applying this knowledge to difficult and complex work assignments.

 

SUPERVISION

The Manager/Supervisor provides administrative direction for assignments in terms of  broadly defined goals  and  objectives.  Directs  the  operation  of  subordinate Managers/Professionals and Supervisors.  The  subordinate  has responsibility  for planning, designing, and carrying out work independently and enforcing GuyOil’s regulations  and  National  and  International  rules  and  procedure  related  to  the Petroleum industry.

 

RESPONSIBILITY FOR MATERIALS, CASH, ETC

Responsible  and  accountable  for  the  effective  conduct  of  the  internal  audit programme of the Guyana Oil Company Limited, and for providing independent analysis and appraisals of the financial and operational components of GuyOil.

 

COMPLIANCE

Requires  comprehensive  knowledge  and  application  of  related  Laws,  operating policies, rules and technical procedures and ability to interpret same in situations of both  a  recurring  and  non-recurring  nature;  in  normal  and  unique  situations  to provide technical advice and opinions. Constant analysis of complex, multifaceted, high impact information and data is required to make financial and administrative decisions; as well as to co-ordinate and direct staff activity.

 

QUALITY OF WORK

Required to work in full accordance with the mandate, policies, procedures, rules and  regulations  of  GuyOil  and  consistent  with  the  environmental  laws  and regulations. Maintains a continuous interchange of information, ideas and opinions by  constant  oral  and  written  communication  with  Audit  staff  so  that  sound decisions and proper courses of action can be taken and the work performed with a minimum of waste and unproductive effort.

 

ANALYTICAL SKILL

The  Incumbent  is  responsible  for  evaluating  the  adequacy  of  the  audit  work performed by reviewing the audit check list, ensuring that the audit is complete in every response and whenever necessary by personal review of working papers, including flow-charts,  internal  control  questionnaires,  audit  programmes  and memoranda   relating   to   the   assignment,   with   the   object   of   satisfying himself/herself  that  proper  and  sufficient  audit  work  was  performed  and  that working  papers  and  related  documents  support  the  findings  and  conclusions reached in these areas.

 

TECHNICAL/PROFESSIONAL

Extensive knowledge of complex processes, techniques and practices.  Work requires knowledge of: planning, monitoring and evaluation methods and technical directives including marketing and research processes. The employee must also use judgment and ingenuity in developing applications to specific areas of work. Organises Audit Teams to conduct routine and special investigations; coordinates examination and analysis of records. Leads the presentation of operational reports.

 

INTERPERSONAL SKILL

The interpersonal relationships at this level are with high-ranking officials both within and external to GuyOil in structured or unstructured settings; as well as with clients and staff. Considerable persuasive ability or tact may be required to handle the contacts.

 

MENTAL AND VISUAL DEMANDS

Requires constant and intense application and close visual attention for sustained periods to complete large volumes of work or very broad ranges of activities within prescribed time frames.

 

WORKING ENVIRONMENT

Generally works indoors and in congenial environment.  May be required to work under pressure to meet deadlines in special cases.  Visits sites to undertake audit assignments at the Service Stations/Terminals.

 

NB: Only shortlisted candidates will be contacted.

 

 

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