Chief Audit Executive

SUMMARY:

POSITION INFO:
JOB DESCRIPTION

• Directs and develops the strategic plan for the audit function.
• Contributes to the Company’s strategic plan.
• Develops the annual operational and audit plan including the KPIs.
• Provides leadership in the development of the 3 year risk based internal audit plan, discussed with Exco and Management (, and approved by Audit Committee.
• Ensures alignment between the internal audit strategy and the overall Company strategy.
• Ensure continuous awareness of the Internal Audit function within the organisation.
• Prepare and monitor the internal audit and forensic services budget.
• Monitor budget on projects.
• Operational Budget discussed with CEO/CFO/Exco, obtain endorsement from the Audit Committee, and final approval by the Board.
• Development of audit charter and/or policies, and procedures/methodologies.
• Develop and monitor the implementation of quality measures through continuous quality and period internal and external quality assurance initiatives.
• Ensure compliance with PFMA, IIA standards, Prudential Standards and relevant best practice (i.e. King IV Code,).
• Prepare the annual written assessment on the system of internal controls and present to the Audit Committee.
• Contribute towards the success of the combined assurance.
• Identifies and manages internal audit department.
• Contribute to the Company’s risk identification process.
• Oversee and monitor the implementation and execution of the internal audit plan.
• Oversee and monitor internal audit operations
• Ensure the development and review of forensic investigation policies, procedures and manuals.
• Oversee the forensic investigation plans, strategies to ensure effective risk management.
• Review the effectiveness of fraud prevention and detection plans.
• Oversee the forensic investigations and ensure that factual findings are correct and recommendations are sound.
• Communicates the results of audit and advisory projects via written reports and oral presentations to management and audit committee (the board of directors where necessary).
• Communicates the extent to which management have implemented the previously corrective actions (follow-up reviews) and results of such assessments.
• Determine the optimal structure of the function, including considerations of co-sourcing
• Manage structure and focus the work of the internal audit team.
• Directs audit staff in the planning, organising, directing and monitoring of internal audit operations.
• Ensure that annual performance objectives are set and understood by team members.
• Development areas identified and career development plans in place for team members.

• Bachelor’s degree
• Relevant post graduate qualification
• Certification either as a CIA or CA (SA)

• Ten years of full-time experience in auditing and accounting including six of senior management experience.
• Experience with reporting to Exco and/or Board Sub-Committees (ideal)