Ensure independent and objective assurance and consulting activities designed to add value and improve the organization’s operations covering production, financials and IT. Responsible for driving the evaluation and improvement of the effectiveness of risk assessment, control and governance processes. This will cover the operations of the organization at tactical and strategic level.
DUTIES AND RESPONSIBILITIES:
Audit Governance
- Institute audit plans and implement as approved by CEO / Audit Committee.
- Set directions and advise Top Management, partners and leaders on audit priorities, risks and exposures.
- Review customer & 3rd party requirements based on contractual obligations (MSA, SOW, etc) are considered and adhered to in the design of any process and transactions in the organization
- Escalate any business risks to Top Management as identified in any audit engagement
- Review internal and external risks with the Standards team and recommend appropriate improvement action to eliminate or mitigate exposures.
Operations Control
- Implement and manage programs that will ensure check and balance across operations of ADEC Innovations sites and businesses based on internationally accepted best audit standards eg. IIA and COSO, etc
- Define audit scope, goals and deliverables that will cover IT, Production and Support functions.
- Establish risk-based controls and determine the priorities of the internal audit activity that will address critical issues.
External compliance engagements
- Monitor client feedback and assess any critical or high level concerns that will affect the business.
- Communicate and coordinate with 3rd parties on specific requirements, as needed.
- Collaborate with company Subject Matter Experts (SMEs) on the achievement of 3rd party requirements during audit, license reviews, on-site validation etc.
- Monitor and report to Top management all red flags and escalations resulting from review, either internal or 3rd party engagements
Strategic & Tactical Management
- Understand how the IIA Standards and the Professional Practices Framework relate to the role as head of internal audit.
- Establish risk-based plans to determine the priorities of the internal audit activity, consistent with ADEC INNOVATION goals.
- Communicate internal audit activity plans and resource requirements, including significant interim changes, to senior management and to the board for review and approval.
- Ensure that internal audit resources are appropriate, sufficient, and effectively deployed to achieve the approved plan.
- Establish policies and procedures to guide the internal audit activity.
- Share information and coordinate activities with other internal and external providers of relevant assurance and consulting services to ensure proper coverage and minimize duplication of efforts.
- Report periodically to the audit committee or senior management on the internal audit activity’s purpose, authority, responsibility, and performance relative to its plan.
- Control access to, develops retention requirements for, and develops policies governing the custody and retention of engagement records.
- Communicate results of internal audit engagements to the appropriate parties.
- Establish and maintain a system to monitor the disposition of results communicated to management.
- Set and establish standards or benchmarks for performance appraisals of internal auditors.
- Conduct periodic performance evaluations on internal auditors.
- Provide guidance, training and coaching to the team of internal auditors.
- Ensure accurate and complete records of training, counselling, & disciplinary actions are taken.