Job Responsibilities

The Director, Internal Audit, will report to the Board of Management and will be responsible for:

i) Serving as the secretary of the Audit Committee of the Board of Management

ii) Establishing a risk-based plan that aligns with the institute’s goals and determines the priorities of the internal audit activity

iii) Communicating the internal audit activity’s plans and resource requirements to senior management and the Board of Management for review and approval

iv) Ensuring appropriate, sufficient, and effective deployment of internal audit resources to achieve the approved plan

v) Developing internal audit policies and procedures in accordance with the Mandatory Guidelines of the International Professional Practices Framework (IPPF)

vi) Facilitating information sharing, coordinating activities, and considering reliance on the work of other internal and external assurance and consulting service providers

vii) Periodically reporting to senior management and the Board of Management on the internal audit activity’s purpose, authority, responsibility, and performance relative to its plan and adherence to the Code of Ethics and Standards

viii) Monitoring and reporting to senior management and the Board of Management on threats to the independence of the internal audit function and the objectivity of internal auditors

ix) Developing and implementing engagement records retention policies and requirements

x) Establishing and implementing a Continuing Professional Development program for internal auditors to enhance their knowledge, skills, and competencies

xi) Developing and maintaining a quality assurance and improvement program covering all aspects of the internal audit activity

xii) Ensuring ongoing monitoring, periodic self-assessments, and independent external assessments of the internal audit activity as required by the quality assurance and improvement program

xiii) Liaising with external auditors to ensure adequate follow-up of audit queries

xiv) Conducting follow-up audits on issues raised in the Management Letter by external auditors and the systems audit report

xv) Reviewing and communicating the results of the quality assurance and improvement program to senior management and the Board of Management

xvi) Periodically reviewing the internal audit charter and presenting it to senior management and the Board of Management for approval

xvii) Reporting to the Board of Management on the effectiveness of the system of governance, internal controls, and risk management