Principal Auditor

Job description:

JOB PURPOSE:

To assist the Senior Manager/Associate Manager in conducting and delivering internal audit services for assigned audit area. The Principal Auditor shall under the guidance of the Senior Manager/Associate Manager IA, lead, manage and report results in completing the assigned audit while ensuring that professional standards are met, areas of non-compliance are identified and addressed to mitigate the risk.

KEY ACCOUNTABILITIES:

Policies, Processes  & Procedures

• Implements approved departmental policies, processes, procedures and provides instructions to subordinates (team allocated for a particular assignment) and monitor their adherence so that work is carried out in accordance with the professional standards issued by The Institute of Internal Auditors
• Maintains and continually improves standard operating procedures as well as adopting best practices applicable to the internal audit function

Day-to-Day Operations

Implements the day-to-day operations assigned for the Internal Audit function to ensure compliance with the established standards and procedures and EGA audit methodology.

Risk Assessment and Audit Plans

Assists the Senior Manager/Associate Manager in carrying out risk assessments for the assigned area of responsibility thereby prioritising audit areas critical to the business.

Audit Management

Manages all activities related to assigned audits, including but not limited to: a) determining the audit approach including risk analysis and process mapping and finalizing the approach under guidance of the senior manager; b) conducting the testing of internal controls and reviewing the results of testing performed by team members; c) identify process improvements and cost reduction opportunities; and d) assess the adequacy of internal controls

Staffing

• The Principal Auditor is responsible for coaching the team assigned with a view to enhancing the skillsets of the audit team.
• Ensure that the internal audit methodology is understood and applied by the team members in the day to day activity.

Documentation

Document the work performed and review the audit work papers prepared by the team members to ensure that the audit objectives and the quality standards are met and working papers or audit files are maintained as per Internal Audit requirements.

Corrective Actions

• Recommends to process owners suitable corrective/preventive actions in order to mitigate/remediate the observations made and risks highlighted, ensuring that all accepted recommendations are given clear implementation deadlines or clearly identified as not being accepted
• Ensures that area managers and Senior Manager Internal Audit are informed in a timely manner regarding critical issues to enable quick correction and mitigation of further occurrences
• Supervises or carries out periodic follow-up of recommendations in order to report on status of implementation.

Reports

Prepares the draft audit reports as per the required format for review by the Senior Manager/Associate Manager.

Management Requests and Fraud Investigation

• Conducts ad-hoc reviews based on management requests as directed by the Senior Manager or SVP Internal Audit.
• Participates in the fraud investigations as and when called upon to do so by the Senior Manager or SVP internal Audit.

Safety, Quality & Environment

Complies with all relevant safety, quality and environmental management policies, procedures and controls to ensure a healthy and safe work environment.

Authority/ Decision making:

The Principal Auditor is required to interact and maintain effective working relationships with management of the assigned area of responsibility.

QUALIFICATIONS & SKILLS:

Minimum Qualifications:

• University degree in Accountancy / Economics / Business Administration / Engineering / Computer Science /Law;
• Master in Business Administration/Engineering or professional accounting qualification such as but not limited to Chartered Accountant, CMA, CPA, ACCA etc.
• Audit related professional qualification such as CIA or CISA.

Minimum Experience:

Minimum of 7-10 years internal audit / relevant business process experience in a large manufacturing company or with the Big4 audit firms.

Skills:

• Knowledge of the manufacturing industry with particular exposure to the metal industry in general and Aluminium industry in particular.
• Good knowledge of international corporate/IT governance, risk and internal controls frameworks such as COSO, ERM, COBIT, etc.
• Good analytical and observation skills including but not limited to data analysis techniques and computer assisted audit tools such as ACL/IDEA.
• Adequate language skills (English) and effective communication skills, both written and oral.
• Should have an ability to lead and guide a team of auditors.
• Should be able to demonstrate negotiation skills and be able to obtain the buy in from line management regarding the issues / recommendations.
• Must have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by the organisation.
• In-depth knowledge of IIA Standards on Professional Practice and Code of Ethics
• Two  or more of the following:
• Well versed in IT processes including IT Governance, IT ISO, IT Security, etc.
• Good Knowledge of the Aluminium smelting plant processes and operations including technical aspects
• Good knowledge of processes such as HR, supply chain, marketing & sales, treasury etc.
• Good knowledge of IFRS, accounting practices, JVs, financial analysis, etc