Independent Audit Manager

SUMMARY:
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POSITION INFO:

Independent Audit Manager

We have an exciting position available for an Independent Audit Manager for one of our clients in the Financial Services Space.

Responsibilities:

1. Design and implement effective risk-based audit procedures to evaluate compliance by Sellers in reporting their Quarterly achievements on the Economic Development Sub-elements.
2. Ensure the application of the Economic Development Penalty Regime and identify deviations from policies, reporting them to the appropriate stakeholders with recommendations for corrective actions.
3. Establish and implement efficient risk-based audit readiness procedures to evaluate the work done by the Finance Department and provide feedback on the AFS in accordance with IFRS.
4. Manage the accurate and timely completion and execution of Verification Compliance Assurance Reports, meeting the targets set in the Performance Plan.
5. Provide written feedback to the Senior Management of the and the Board of Directors of the Project Companies regarding policies, procedures, and the relevance of obtained audit evidence.

Key Responsibilities:

• Design, coordinate, plan, prioritize, and direct the Verification Compliance Audit Process for the Economic Development Sub-elements.
• Participate in strategic sessions and contribute to the Annual Performance Plan (APP) outcomes.
• Prepare departmental budget addressing resources and travel requirements.
• Develop a Stakeholder Engagement and Monitoring Plan to determine the order of verification compliance reviews.
• Collaborate with Contract Management to incorporate concerns into the Risk Matrix.
• Create a Verification Compliance Audit Plan addressing current and emerging risks.
• Establish procedures for the Independent Audit function to ensure timely delivery of Verification Compliance Assurance Reports.
• Review and sign off on comprehensive Audit Findings Reports, including recommendations.
• Prepare a timely Verification Compliance Assurance Report highlighting adverse findings and recommending risk aversion measures.
• Chair audit-related meetings with stakeholders to discuss reports before distribution.
• Provide direction to relevant departments on improvements to RFP and Schedule 2.
• Prepare Quarterly reports of lessons learned and the verification of IPP Portfolio Performance.
• Prepare Monthly reports for the Head Office on the progress made by the Independent Audit team.
• Reduce compliance violations and penalties by implementing effective systems and controls.
• Assess the Economic Development Performance Measurement process and prepare the Portfolio of Evidence.
• Establish procedures for the Audit Readiness Audit Process.
• Collaborate with Finance Department to incorporate their concerns into the Risk Matrix.
• Develop Verification Compliance Audit Plan and Procedures for all financial aspects.
• Enable and lead the Independent Audit Department and through effective communication, high-performance behavior, and leveraging expertise in leadership.

Expertise & Technical Competencies:

• In-depth knowledge of Contract Law, Companies Act, and Directors’ Fiduciary duties.
• Understanding of the public sector, including PFMA, Treasury regulations, BBBEE Act, PPPFA, and King IV Report on Corporate Governance.
• Extensive knowledge of Audit and Internal Audit principles and practices, including sampling, professional conduct, quality control, and reporting.
• Familiarity with the processes, Economic Development obligations, and financial agreements.
• Understanding of relevant legislations related to the Office, such as IRP2010, NERA, and ERA.

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