About Company: Our client is a marketing leading, reputable and well-established Engineering and Construction business located in the south-south region of Nigeria. Job Objective: The Company is seeking to hire a competent Head of Internal Audit that will Provide an independent evaluation of the activities of the Company, coordinating all audit, risk management and compliance activities and ensuring strict adherence to the Company’s internal policies and procedures as well as regulatory and statutory requirements in order to promote transparency and accountability. The ideal candidate will add significant value, enhance risk management, governance and compliance, improve operational efficiency, and strengthen the internal control systems within the operations. Key Responsibilities
Coordinate and provide leadership for the internal audit, internal control, risk management, systems audit and risk management functions.
Leading the Internal Audit department professionally and conduct self in a manner which commands a high degree of respect both internally and externally
Draft/update the Internal Audit Charter of the organization in line with international standards
Develop risk based annual audit plans detailing the scope, nature and timing of audit activities
Ensure timely implementation of individual engagements captured in the approved audit plan
Conduct internal audits to access the adequacy, effectiveness and efficiency of the established internal controls and procedures
Maintain a working knowledge of relevant legislation, statutory instruments, codes of practice, departmental policies and ensure these are adhered to within the department
Evaluate and provide reasonable assurance that risk management, control, and governance systems are functioning as intended and will enable the organization’s objectives and goals to be met
Reports risk management issues and internal control deficiencies identified directly to the management and provide recommendations for improving the organization’s operations efficiently and effectively.
Monitor the timely implementation of the management actions recommended in the audit reports
Evaluate information security and associated risk exposures
Maintain open communication with management
Responsible for ensuring that all allegations of financial irregularity, fraud and corruption are promptly and fully investigated. Provide support to the company’s anti-fraud programs
Participate in multi-disciplinary projects and tasks as applicable
Competencies and Skills Requirements
Excellent knowledge of generally accepted audit standards
Knowledge of Accounting, Audit and Finance principles and practices
Knowledge of variety of reporting procedures, regulations and law, preferably relating to the Nigeria construction sector
Internal and Technical Audit
Business process analysis and documentation
Auditing/Accounting/Cost control
Enterprise Risk management
Knowledge and application of regulatory guidelines
Information Technology (IT) General Knowledge
Computer literacy
Investigation and reporting
Good managerial and coordination skills.
Role Specific KPIs Audit Planning and Implementation
Adequacy of audit plan
Number and significance of issues identified by executive management, board and external auditors
Percentage of the audit plan completed
Audit Reporting
Accuracy, timeliness, completeness of reports
Feedback from the executive management, board and external auditors
Percentage of recommendations approved/implemented
Value of the audit recommendation to the business
Controls and compliance monitoring
Number and frequency of queries
Frequency of incidences of control failure
Number of unresolved cases to identified variances
Percentage of investigations completed
No of frauds prevented
Open audit/ control issues closed within approved timelines
Cost control, savings, and loss reduction
Regulatory sanctions/ fines/ penalties prevented
Key Requirements
A Bachelor’s Degree in Accounting, Management or Social Sciences related discipline.
A Master’s degree in a business-related field or management is an added advantage
Membership of ICAN, ACCA, ANAN, CIMA, IIA, ISACA or a recognized professional accounting/auditing association is required.
Minimum of 10 years working experience in auditing role is required
Prior team lead experience
Sound knowledge of and ability to review control environments, identify control weaknesses, and recommend suitable improvements to existing control environments.
Sound knowledge and experience in auditing of operations, and information systems
Understanding of accounting and financial statements and understanding of local and international accounting standards
Understanding of audit policies and procedures investigation principles and practice.