Internal Audit Manager

KEY OUTPUTS:

• Internal Control Enhancement Reports – Issued reports providing recommendations for strengthening internal controls and mitigating risks.
• Audit Reports – Comprehensive reports with findings, risks, recommendations, and management responses, submitted to Divisional Heads, the Divisional Director, and the Audit Committee.
• Annual Risk-Based Audit Plan – Approved and documented plan addressing high-risk areas, updated periodically to reflect emerging risks.
• Exception Reports – Reports highlighting significant internal control weaknesses and non-compliance issues, submitted to senior management and the Audit Committee.
• Updated Internal Audit Charter – Periodically revised and formally approved by the Audit Committee to ensure alignment with internal audit best practices and governance standards.
• Staff Performance Appraisals – Completed evaluations of internal audit team members, with documented assessments and performance improvement plans.
• Departmental Budget Reports – Reports on budget utilization and financial performance, ensuring cost-effective operations within the Internal Audit Department.
• Consulting & Advisory Reports – Reports or recommendations provided to management on internal controls, governance, and risk management upon request, ensuring compliance with audit independence requirements
• Audit Programs-Well-structured audit programs that align with the International Professional Standards for Internal Auditing, established audit practices and guidelines, and appropriate audit methodology. These programs should define clear objectives, ensure comprehensive coverage, and adhere to best practices. Additionally, audit reports should accurately reflect compliance with these standards and methodologies, providing clear, objective, and well-documented findings.
• Competent Work-Force-A well-developed and competent internal audit workforce, demonstrated through enhanced skills, completed training programs and performance improvements
• Audit Practices-Up-to-date audit practices that align with the latest regulatory requirements, company policies, procedures, and internal auditing standards.
• Audit Techniques-Enhanced internal audit efficiency and risk detection through the use of advanced technology, data analytics, and automation tools.
• Quality Assurance-A robust Quality Assurance and Improvement Program (QAIP) that enhances the internal audit function and ensures compliance with professional internal auditing standards (IIA Standard 1300)
• Independence-An independent and objective internal audit function that operates free from conflicts of interest and upholds professional skepticism, ensuring compliance with IIA Standard 1100

KEY RESPONSIBILITY AREAS:

• Develops and executes a dynamic, risk-based audit plan, approved annually by the Audit Committee, ensuring alignment with the organization’s risk profile and strategic objectives. Audit Planning
• Develops Audit Programs that align with the International Professional Standards for Internal Auditing, established audit practices and guidelines, and appropriate audit methodology. These programs should define clear objectives, ensure comprehensive coverage, and adhere to best practices.
• Examine and evaluate the adequacy and effectiveness of the organization’s systems of internal control and quality of performance in carrying out assigned responsibilities.
• Assess and report on the effectiveness of management systems.
• Assess the financial and commercial processes to detect control deficiencies and weaknesses; develop appropriate recommendations and action plans for remediation.
• Ensures that all audits are planned, executed, and documented in accordance with the IPPF, including the collection of sufficient, reliable, and relevant audit evidence to support audit conclusions. Audit Execution and Assurance
• Prepares clear, concise, and timely audit reports, outlining audit objectives, scope, findings, recommendations, and management’s responses, in compliance with IIA Standard 2410.-Reporting & Follow-up
• Perform follow-up reviews and produce reports accordingly.
• Ensure that adequate audit steps are undertaken to verify the completeness, accuracy, ownership and valuation, as appropriate, of a transaction cycle.
• Prudently manage the Division’s approved budget .
• Monitor Staff performance, punctuality and tardiness
• Maintain confidentiality of all information arising out of internal audit activities and all matters within the Department
• Identify training and development needs for Internal Audit staff and implement structured training programs to enhance competencies, ensure adherence to professional standards, and support career growth. versee continuous professional development initiatives, including technical training, certifications, and knowledge-sharing sessions, to maintain a high level of audit proficiency and effectiveness.
• Maintain confidentiality of all information arising out of internal audit activities and all matters within the division.
• Provide advisory services where needed in the company.
• Ensures independence and objectivity in all audit activities, avoiding conflicts of interest and maintaining professional skepticism in line with IIA Standard 1100
• Develops and maintains a Quality Assurance and Improvement Program (QAIP) to ensure continuous enhancement of the internal audit function and compliance with professional internal auditing standards (IIA Standard 1300).
• Collaborates with external auditors and regulatory bodies to optimize audit coverage, enhance assurance services, and minimize duplication of audit efforts, ensuring alignment with IIA Standard 2050
• Ensuring that you keep updated with regulatory changes, relevant policies and procedures and standards used by the company and internal auditing.
• Stay updated on regulatory changes, company policies, procedures, and internal auditing standards, ensuring audit practices remain compliant and aligned with best practices.
• Leverage technology and data analytics to enhance audit efficiency, accuracy, and risk identification, ensuring a more effective and data-driven internal audit function.

Required Qualifications and Experience

• CIA and/or Completion of at least ACCA Level 2 or other relevant professional qualifications, plus at least seven (7) years of experience in a similar role.
• Additional professional and academic qualifications considered an asset, including:
• Chartered Professional Accountant (CPA).
• Master’s Degree in Accounting or Business Administration from University of Guyana or a recognised University.