Overview of Position:
The incumbent is responsible for effectively directing and managing the Internal Audit Unit’s activities and ensuring that the Unit’s plans, goals, objectives, authority, and responsibilities are effectively executed. The Chief Audit Executive will ensure impartiality, independence and objectivity, and continuous improvement of the internal audit unit as well as adherence to the relevant policies and procedures within the organization, however, ensuring conformity and compliance with legislative requirements and standards.
To provide guidance regarding the proactive and effectiveness of BSJ’s internal risk management systems, governance and control and provide opportunities for improvements to the BSJ’s operations.
Major Duties and Responsibilities:
Within the delegated authority and under appropriate supervision, the chief audit executive will be responsible for performing the following audit and administrative duties:
- Developing the risk-based audit plan and reporting requirements.
- Conducting risk assessments annually.
- Overseeing the audit process from start to finish.
- Submit, at least annually, to senior management and the Audit Committee/Board a risk-based internal audit plan for review and approval.
- Communicate to senior management and the Audit Committee/Board issues that may arise in the internal audit unit as well as significant interim changes to the internal audit plan.
- Review and adjust the internal audit plan, as necessary, in response to changes in BSJ’s business, risks, operations, programs, systems and controls.
- Ensure that each engagement of the internal audit plan is executed, including the establishment of objectives and scope, the assignment of appropriate and adequately supervised resources, the documentation of work programs and testing results, and the communication of engagement results with applicable conclusions and recommendations to appropriate parties.
- Follow up on engagement findings and corrective actions, and report periodically to senior management and the Audit Committee/Board any corrective actions not effectively implemented.
- Review and issue reports to Audit Committee/Board and management summarizing results of audit activities.
- Ensures the principles of integrity, objectivity, confidentiality, and competency are applied and upheld as well as cultivate an ethical culture.
- Review the internal audit charter and audit committee charter periodically and present it to senior management and the audit committee/board for review and approval.
- Leads and manages the internal audit unit function, which includes the internal audit team.
- Conducting performance appraisal of internal audit personnel and evaluation of internal audit performance.
- Provides support to team members by monitoring the operational function of area of responsibility to ensure that audit teams operate in keeping with established policy.
- Overseeing the hiring of new auditors and ensuring that they are trained and certified for their positions.
- Manage the activities of the Unit to ensure efficiency, training, and effectiveness of the auditing activities.
- Ensure the internal audit unit collectively possesses or obtains the knowledge, skills, and other competencies needed to meet the requirements of the internal audit charter.
- Ensure trends and emerging issues that could impact BSJ are considered and communicated to senior management and the Audit Committee/Board as appropriate.
- Ensure emerging trends and successful practices in internal auditing are considered.
- Establish and ensure adherence to policies and procedures designed to guide the internal audit unit.
- Review internal audit policies and procedures.
- Recommending changes to policies or procedures, as needed, to prevent future issues.
- Ensure adherence to BSJ’s relevant policies and procedures unless such policies and procedures conflict with the internal audit charter. Any such conflicts will be resolved or otherwise communicated to senior management and the Audit Committee/Board.
- Ensure conformance of the internal audit unit with the International Professional Practices Framework (IPPF) Standards.
- Evaluating the effectiveness of internal controls and risk management processes to ensure that risks are mitigated.
- Reporting to the audit committee/board of directors on any breaches in ethics or legal violations identified in an audit.
- Reviewing financial statements and other reports to identify potential problems or errors.
- Providing information and support to other divisions/branches within the organization regarding audit procedures and findings.
- The chief audit executive must develop, implement, and maintain the quality assurance and improvement program (QAIP) and ensure periodic evaluation and updates of same.
- Communicate to senior management and the Audit Committee/Board on the internal audit’s quality assurance and improvement program, including results of internal assessments (both ongoing and periodic) and external assessments conducted at least once every five years by a qualified, independent assessor or assessment team from outside BSJ.
- Review and monitor the unit’s budget.
- Conducting exit interviews with departing employees to identify potential risks and issues related to job function or company culture.
- Provide consulting services to management by giving informal or formal advice, analysis, or assessments.
- Undertake special assignments/investigations/audits as requested by the Standards Council and management and internal and external parties.
- Revision and approval of all internal audit documentation.
The chief audit executive will report periodically to the senior management and the Audit Committee/Board regarding:
- The internal audit unit’s purpose, authority, and responsibility.
- The internal audit’s plan and performance relative to its plan.
- The internal audit unit’s conformance with The IIA’s Code of Ethics and Standards and action plans to address any significant conformance issues.
- Significant risk exposures and control issues, including fraud risks, governance issues, and other matters requiring the attention of, or requested by, the Audit Committee/Board.
- Results of audit engagements or other activities.
- Resource requirements.
- Any response to risk that might be unacceptable to BSJ.
- The Chief Audit Executive is also responsible for coordinating activities, where possible, and considers relying upon the work of other internal and external assurance and consulting service providers as needed.
Minimum Educational Requirements:
- Must be an ACCA designate with ACCA Membership and Association
- Professional qualification(s), particularly as: Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Global Professional Accountant (CGPA).
- A Post Graduate Degree in Business Administration or Accounting
- Any other internal audit certification and/or certificate.
- Membership in the Institute of Internal Auditors (Local Chapter) or any Professional Audit Association would be an asset.
- ISO Certification & Accreditation 9001/14001/17025
Experience:
- At least eight years of experience in financial, operational and/or compliance auditing (three at a supervisory/management level).
- Prior experience in internal/external auditing, operations, accounting, or business analysis would be an asset.
Knowledge, Skills and Abilities:
- Comprehensive knowledge of and skill in applying internal auditing and accounting principles, practices, systems, and techniques.
- Comprehensive knowledge of the international Accounting Standards IAS, International Financial Reporting Standards (IFRS) and International Auditing Standards (IAS)
- Knowledge of the FAA, Public Bodies Management and Accountability Acts (PBMA).
- Sound knowledge of Government Procurement Policy and other regulations.
- Computer skills, including word processing, spreadsheet, systems documentation, and audit packages.
- Knowledge of International Professional Practices Framework (IPPF) and Quality Management System
- Sound knowledge of Government Procurement Guidelines and Public Bodies Management and Accountability Act (PBMA)
- Strong analytical, planning, organizing, negotiating, decision-making and problem-solving skills, and drawing logical conclusions.
- Excellent time management, team building, leadership, and motivational skills
- Ability to pay attention to detail.
- Skill in effective verbal and written communications, including skill in presenting findings and recommendations for improvement.
- Ability to prepare audit reports.
- Ability to establish and maintain harmonious team-oriented working relationships with co-workers and external personnel and work effectively in a professional team environment whilst maintaining independence and objectivity.
- Leadership Skills and People Management.
- Interpersonal skills.
- Strategic Vision
- Microsoft suite (Excel, PowerPoint, Microsoft Word)
- Sound knowledge of computerized accounting and auditing record-keeping systems
- Work with minimal supervision from the Audit Sub-Committee of the Board
Please note that while we appreciate all applications, only shortlisted applicants will be contacted.
