Internal Audit Manager
3 days ago
The Internal Audit Manager is responsible for conducting financial, compliance, and operational audits to assess adherence to company policies, procedures, and relevant regulations. This role ensures internal controls are effectively implemented and aligns with the standards set by the Emirates Securities and Commodities Authority (ESCA). Additionally, the position oversees control self-assessments, ensuring the accuracy, completeness, and reliability of internal controls within the client organization.
Key Responsibilities
- Assist in defining the scope of audits and selecting appropriate audit methodologies for various assignments.
- Develop risk-based audit strategies and testing frameworks to evaluate the effectiveness of internal controls.
- Design and implement Control Self-Assessment (CSA) forms by leveraging insights from discussions with process owners, previous audit findings, and a thorough review of existing policies and procedures.
- Conduct audits to identify gaps in key processes, weaknesses in internal controls, and regulatory compliance issues, providing recommendations to mitigate risks and safeguard the clients assets.
- Gather and analyze data, conduct interviews, observe operational practices, and assess functional processes to pinpoint areas for improvement.
- Maintain detailed audit documentation, including findings, supporting evidence, and recommended corrective actions, in line with the Internal Audit Department Manual.
- Identify critical controls for testing, considering factors such as transaction materiality, vulnerability to fraud, complexity of financial reporting, and system upgrades or changes.
- Execute control testing procedures, including inquiries, observations, document reviews, and re-performance, to assess deficiencies, determine associated risks, and evaluate compensating measures.
- Compile and present audit findings in comprehensive reports, highlighting key observations and recommendations for internal control improvements.
- Follow up with relevant departments to track the implementation of audit recommendations and ensure timely corrective actions.
- Identify potential risks and suggest enhancements to operational and financial processes.
- Monitor the effectiveness of internal controls and escalate unresolved issues to management when necessary.
- Support fraud investigations by collecting evidence, conducting interviews, and developing detailed audit plans.
- Prepare investigative reports summarizing findings, conclusions, and recommendations for management review.
- Stay updated on emerging trends, regulatory requirements, and best practices in internal auditing to enhance audit methodologies, tools, and procedures.
Qualifications & Experience
- Bachelors degree in Business, Finance, Accounting, or a related discipline.
- Professional certifications such as CIA, CCSA, CISA, ACPA, ACCA/CPA, or CRMA.
- 1015 years of experience in internal auditing, including at least 5 years in a leadership or managerial capacity.
- Strong knowledge of auditing standards, including those issued by the Institute of Internal Auditors (IIA) and Generally Accepted Auditing Standards (GAAS).
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