SUMMARY:
Internal Audit Executive - Equity requirement - Rivonia
POSITION INFO:
Internal Audit Executive
Purpose of the job
Provides strategic direction, manage and execute the Internal Audit activity, coordinate specific processes to support the implementation and execution of the Internal Audit Plan, conducting, compiling and presenting internal audit reviews, monitoring compliance, preparing and presenting audit findings and recommendations, and providing assurance of compliance with statutory requirements, policies and procedures in line with the Institute of Internal Auditors Standards and the organization’s policies and procedures. The role requires specific attention to operational and financial control reviews.
Responsibilities:
• Establish, manage, maintain and promote the standing and image of the Internal Audit Department;
• Designing the annual internal audit plan, considering regulatory requirements and risks associated with operations in South Africa;
• Ensure execution of the planned audits, including ensuring the IA Team is adequately resourced;
• Share knowledge on how to audit in a business environment where there are no detailed step by step policies and procedures;
• Timeously communicate the results of the Internal Audit engagements to the relevant stakeholders, management and senior executives providing recommendations to mitigate/ address risks while adding value;
• Manage and review the Internal Audit engagement outcomes and general IA Team Progress;
• Manage the Internal Audit team to ensure audit plan is met in an effective manner;
• Review the Internal Audit Reports in respect of the Internal Audit engagements performed;
• Understand how to identify fraud red flags or fraud indicators;
• Jointly assess management remediation plans in respect of findings identified, and monitor implementation progress thereof;
• Train, coach, develop and mentor Internal Audit and IT Audit staff members;
• Preparation of the quarterly Audit Committee pack, including the Internal Audit Report within the pack for the purposes of the Audit Committee meetings;
• Coordinate the activities of Internal Audit with those of other third-party assurance providers to establish combined assurance;
• Proactively seeking ways to make the best use of data as part of our audit process, including our understanding of risks, test controls, and provide relevant insights into the business;
• Ensure continuous professional development (CPD) and updating of technical knowledge of IA Team to ensure continued competence;
• Attending Board Meetings and maintaining the internal audit risk assessment process and related audit plans, interacting with senior management and staff to obtain an understanding of relevant risks, controls, and processes;
• Conduct research on developments in corporate governance, risk management and internal audit and educate and support management on the new developments;
• Advising on the identification of relevant regulatory requirements for incorporation as part of the audit scope;
• Assist management with ad-hoc tasks and requests;
• Administer the Ethics hotline to ensure proper investigation, feedback and reporting of whistleblower calls.
Competencies or key attributes
• Positive, self-motivated and independent person, who can work without constant supervision, both on his/ her own, and needs to know when to contact others for assistance;
• The person must be able to handle stress, pay attention to detail and pride himself/ herself on quality work, be able to work under pressure and run several tasks or projects simultaneously as well as an ability to plan and prioritise;
• Deploy sufficient staff with appropriate competencies to achieve engagement objectives.
• Delegate tasks in a constructive and supportive manner.
• The incumbent must be able to work effectively to ensure IA Team meet deadlines;
• Ability to supervise and train employees, to include organizing, prioritizing, and scheduling work assignments;
• Review audit working papers to ensure adequate document information is obtained, analysis made, and support findings and conclusions;
• Must have the ability to identify and assess business risks;
• Be impartial, unbiased and objective;
• Be assertive, decisive, diplomatic and tactful, and be able to take a stand to defend personal views and opinions;
• Employee development and performance management skills.
• Excellent verbal and written communication skills;
• Ability to interact at all levels (meetings are held with senior executives of various operational clusters, audit committee members and CEO and CFO of the Division);
• Manage and resolve conflicts with internal and external stakeholders.
• Good business acumen;
• Promote ethics and values within the organisation.
• Must be presentable, professional and confident;
• Knowledge of financial recordkeeping procedures, laws, regulations, and standards.
• Ability to persuade and influence others.
• Target/ results driven with a sense of urgency to get things done;
• Strong attention to detail/ methodical/ analytical;
• Understanding of IT control environments;
• Be flexible and be able to adapt to varying environments and cultures that exist in each operational cluster or business unit; and
• Be innovative and constantly seek improved ways to audit efficiently in a manner that will suit the organisational environment and culture.
Knowledge and Skills
• Knowledge of King III and King IV Code of Corporate Governance;
• Extensive audit experience on risk assessment, process and control review, implementation, and advice;
• Office 365; and the aptitude to work and interrogate various other application systems;
• Understanding and knowledge of Internal Financial Reporting Standards;
• Understanding and knowledge of International Standards of Auditing;
• Understanding and knowledge of COSO/ Internal Audit Standards/ CSA;
• Detailed understanding key operational and financial controls;
• Ability to perform business process reengineering;
• The ability to work independently while managing concurrent deadlines and multiple priorities; and
• Solid critical thinking and problem-solving skills.
Experience
• Exposure to and experience in a variety of business types/ sectors, such as services, manufacturing, industrial etc.
• Exposure to different aspects of the business environment – risk, control and improvement focus;
• It would be preferable for the candidate to have at least 10 years’ relevant audit management experience in heading up an Internal Audit Function.
Education or qualifications
• BCom degree in Accounting; and
• BCom Honours degree in Accounting or Internal Auditing; and
• Qualified Chartered Accountant (CA) with completed articles; or
• Qualified Certified Internal Auditor (CIA) with completed traineeship.
• Certified Information Systems Auditor (CISA) would be an added advantage.
The candidate needs to have a driver’s license, and own reliable transport to enable the candidate to travel to and from audit supervising locations.
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