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Head, Internal AuditFood Concept

3 days0 Applicants
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job description - Head, Internal Audit

  • To examine, evaluate and improve the effectiveness and adequacy of risk management, control and governance processes.
  • To be the catalyst to improving governance and internal control and also supporting the organisation in its wider business objectives through execution of proactive Audit activities.

Core Responsibilities and Key Result Areas

  • Strategic Leadership and Management
  • Provide overall direction to drive the vision of the audit function
  • Build audit to understand the use of new and effective audit tools
  • Ensuring audits are completed to a high level of quality, integrity and agreed timelines
  • Communicating audit findings effectively through professionally designed audit reports
  • Effectively communicate, verbally and in writing, to the Boards, Audit Committees, and Management
  • Build awareness of external leading practices and benchmarks to embed within the internal audit function
  • Be the final layer of identification of risk management and exposure before external parties
  • Provide necessary support to external auditor, external co-sourcing firms and regulators, as required

Risk / Quality Monitoring and Management:

  • Provide teaching, training and coaching of audit staff
  • Ensure projects are prioritised based on risk and exposure
  • Develop and maintains productive audit staff relationship through communication and meetings with other departments
  • Proactive identification of potential risk or exposure from current policies processes and procedures
  • Establish quality control programmes during internal audit activities through project planning, resource management, file review, reporting and follow up
  • Conduct risk assessment for audit coverage area
  • Ensures prioritisation of projects based on risk and exposure
  • Provide advice on internal control and participate in enhancing internal audit standards and practices within the company. 

Reporting and Supervision:

  • Plan, assigns and supervises audit staff
  • Direct the overall internal audit operations on behalf of the Board Audit Committee and the management
  • Plan, schedule, coordinate, review and report on the work of audit staff
  • Conducts follow-up audits to ensure that regulations and sector rules are being met and best practices are followed

Audit planning:

  • Lead the development of the strategic audit plan adopting a risk-based approach
  • Provide direction in the cascading of strategic audit plan into annual plans
  • Develops procedures, schedules , priorities and programmes for achieving audit objectives and goals

Relationship Management and Capacity Building:

  • Prepare and issue complex audit reports to management using advanced audit skills
  • Conduct ad-hoc special projects as requested by the Board of Directors, Audit Committee or the MD
  • Advise and coaching of Management to address risks and exposure.
  • Attend the executive committee and shared services meetings
  • Ensure internal audit staff develop skills and knowledge through professional education, seminars, workshops etc.

Key Performance Indicators

  • Achievement of Company Sales, EBITDA, GP, PAT targets
  • Achievement of the Internal Audit Departments’ budget/targets/objectives
  • Achievement of Individual Personal Development Plans

Knowledge Requirements:

  • Understanding of policy formulation and regulation
  • Understanding of audit and investigation principles and practice
  • Understanding of international accounting standards
  • Knowledge of documentation
  • Deep understanding of the business
  • Knowledge of risk management techniques
  • Understanding of practice and related policy issues, their implications and applications within the QSR industry
  • Understanding of financial and accounts statements

Job Specification

  • A good First Degree in Accounting/Finance
  • Possession of a Post graduate degree in Finance/Accounting or related degree is an added advantage
  • Membership of the CPA or any other related professional qualification is required.
  • Minimum of 10 years Internal Audit work experience in a similar organization, professional services firm or retail business

Decision Expectations:

  • Acts on defined procedures and decisions
  • Plans own work schedule and work schedule of subordinates
  • Assigns work to subordinates
  • Monitor subordinates’ work performance
  • Appraises/evaluates subordinates’ performance
  • Recommends operational, strategic and financial decisions.
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