Audit Planning and Strategy
1. Develop a comprehensive annual internal audit plan based on a risk assessment of the cooperative’s operations.
2. Align audit strategies with the cooperative’s goals, objectives, and regulatory compliance requirements.
Internal Audit Execution
1. Lead audits of financial, operational, and compliance activities to ensure integrity and efficiency.
2. Evaluate the effectiveness of internal controls, risk management, and governance processes.
3. Perform special investigations as directed by the Audit Committee or management.
Reporting and Recommendations
1. Prepare and present detailed audit reports to the Audit Committee and senior management.
2. Provide actionable recommendations to address identified risks, control weaknesses, or process inefficiencies.
Regulatory and Policy Compliance
1. Monitor adherence to cooperative policies, by-laws, and external regulatory requirements.
2. Ensure timely updates of internal audit policies and procedures in line with best practices.
Team Leadership and Development
1. Manage and mentor the internal audit team to build capability and ensure quality performance.
2. Foster a culture of continuous learning and professional growth within the audit function.
Stakeholder Engagement
1. Act as a liaison between the cooperative and external auditors or regulators during audits and reviews.
2. Collaborate with other departments to address risks and implement audit recommendations effectively.