Auditor (FMG/AS 2) – Audit and Investigations (Financial) Unit

Job Purpose

Under the supervision of the Chief Investigative Auditor, the Auditor is accountable for conducting the audits and assessment of Co-operatives, Friendly, Registered Charities and Industrial and Provident Societies (inclusive of Peoples Co-operative Banks) and investigation of all known or alleged incidence of fraud or misappropriation, and develop proper accounting and control systems for those Societies, in consultation with the Supervisor and in accordance with the programme of work approved by the Director of Audits and Investigations. 

Key Responsibilities

Technical/Professional: 

• Reports monthly on Audits assigned; 
• Attends meetings on behalf of the Department; 
• Assists with the development of the Budget and Operational and Work Plans of the Department; 
• Assists with the preparation of Monthly, Quarterly and Annual Reports; 
• Conducts Risk assessment to determine areas of risk and audit focus; 
• Prepares and executes audit programme by testing areas agreed on with Chief Auditor; 
• Verifies assets and liabilities by comparing and analyzing items and collateral to documentation; 
• Completes audit work papers by documenting tests and findings; 
• Communicates audit progress and findings by providing information and highlighting unresolved issues; 
• Assesses statutory records for compliance with Rules and Bye-laws and applicable accounting standards; 
• Conducts investigations into instances of fraud and other irregularities; 
• Assesses compliance with all applicable Acts of Parliament e.g.: Income Tax, Co operative and Friendly Societies Acts etc., and Industrial and Provident Societies Act; 
• Prepares draft report on Audit Findings, stating deficiencies, implications, etc.; 
• Makes recommendations for improved internal controls and procedures to enhance business efficiency and submits report to Chief Auditor; 
• Examines external audits for correctness and conformity to Department standard and applicable accounting standards and principles; 
• Examines Business Plans of prospective Societies for correctness and viability; 
• Conducts training of Societies in proper bookkeeping and accounting procedures, and recommends relevant accounting and internal control systems; 
• Assists Team Members in accomplishing related job results, as and where needed; 
• Develops and co-ordinates training courses in accounting and audit methods, as well as Co-operative Law and Practices for Societies, in consultation with the Director of Audits and Investigations; 
• Prepares reports on issues discussed at Annual General Meeting and Committee Meetings; 
• Provides technical advice to Societies, on various issues; 
• Provides technical advice at meetings, in matters concerning financial management, accounting or audit, and compliance with the requisite Acts, Regulations and Rules of the Societies; 
• Performs other duties and responsibilities that may be assigned. 

Required Knowledge, Skills and Competencies

Core: 

• Good oral and written communication skills 
• Good problem solving and decision skills 
• Good interpersonal skills 
• Teamwork and cooperation 
• Sound integrity 
• Compliance 
• Strong customer and quality focus skills 
• Ability to manage external partners 
• Analytical thinking skills 
• Ability to act on own initiative 
• Good organizing and planning skills 

Technical: 

• Knowledge of the operations of Government/Ministry’s policies and procedures
• Excellent Knowledge of Auditing principles 
• Excellent knowledge of Accounting principles 
• Excellent knowledge of the Acts and Regulations governing the Departments functions
• Proficient in relevant software applications 
• Good Report writing skills 

Minimum Required Qualification and Experience

• First Degree in Accounts, Finance, Business Administration, Management or Economics; or 
• ACCA Fundamentals or equivalent and no experience; or 
• ASc, Degree, AAT Diploma, ACCA-CAT Level 3 or equivalent qualifications, plus two (2) years auditing or accounting experience. 
• Training in the following areas will be an asset: 
  • Co-operative Principles and Management 
  • Co-operative; Friendly; Charities; Agriculture Loan and Other Authorized Societies; and Industrial and Provident Societies Laws. 

Special Conditions Associated with the Job

• Highly unfavorable working conditions, at times; 
• Will be required to work on weekends; 
• Will be required to work outside the normal working hours in completing the Work Programme; 
• Islandwide travel to various Co-operative Societies, Friendly Societies, Industrial and Provident Societies, Groups and other Institutions; internationally, on occasions;
• Must possess a valid Driver’s Licence and a reliable motor vehicle.

Please note that only shortlisted applicants will be contacted.