Audit Manager

Responsibilities

• Formulate policies and procedures for the planning, organizing, directing, and monitoring of internal audit operations, and make appropriate amendments as necessary.
• Establish the Internal Audit Charter that defines the internal audit activity’s purpose, authority, and responsibility, and make appropriate amendments as necessary.
• Ensure internal auditors are in compliance with the International Standards for the Professional Practice of Internal Auditing of the Institute of Internal Auditors and Code of Ethics.
• Determine if the Internal Audit Department (IAD) activities are aligned to achieve organizational independence.
• Establish policies to promote objectivity, assess and maintain individual objectivity, and recognize and mitigate impairment to independence and objectivity.
• Identify, develop, and/or procure necessary knowledge, skills, and competencies required to fulfil the responsibilities of the internal audit activity.
• Promote continuing professional development.
• Develop a flexible Annual Risk-Based Audit Plan using appropriate risk-based methodology, including any risk or control concerns identified by management.
• Develop the Audit Budget and Resource Plan to properly execute the approved Annual Audit Plan, and submit it to the President/CEO for review and approval.
• Build and maintain networking with other executives through attendance and participation in regular board meetings related to management’s oversight responsibilities for auditing, financial reporting, and organizational governance.
• Educate management on their responsibilities for Enterprise Risk Management (ERM) and act in a consulting role in identifying, evaluating, and implementing risk management methodologies and controls, including:
• Giving assurance on the risk management process
• Giving assurance that risks are correctly evaluated
• Evaluating risk management processes
• Evaluating the reporting of key risks
• Reviewing the management of key risks
• Provide reports and/or presentations, as necessary, to ExeCom concerning:
• The internal audit activity’s plans and activities or any significant deviation from the approved audit plan
• Status updates of still-open audit findings and recommendations, including risks accepted by taking no corrective action or cases where corrective action was not timely or effective
• Results of external and periodic internal assessments, including Quality Assurance and Improvement Program (QAIP) results and successful implementation
• Significant risk exposures and control issues that may result in unacceptable internal or external risk exposure, including control weaknesses, fraud, illegal acts, errors, inefficiency, waste, ineffectiveness, conflicts of interest, and financial viability
• Any scope limitation encountered during audit activities that precludes accomplishment of objectives and plans
• Other matters of mutual interest to keep relevant parties informed
• Make appropriate inquiries to management on expectations from audit activities, tools and techniques employed by auditors, and determine whether the internal audit activity adds value and improves the organization’s operations.
• Attend meetings related to alleged fraud cases after the most applicable evidence has been obtained.
• Supervise all ongoing audit and post-audit engagements.
• Approve audit programs for each audit engagement.
• Assess the adequacy of the performance measurement system within the Audit and Risk Management Office in relation to the achievement of corporate objectives, including:
• Assessing future training needs and current staff abilities
• Identifying areas of staff personal strengths and weaknesses
• Providing necessary amendments to job descriptions and KRA or KPI (Key Result Areas or Key Performance Indicators) of each personnel due to changing circumstances
• Periodically submit to the Human Resources Department (HRD) the results of the Annual Performance Evaluation of IAD personnel as basis for merit increases, performance bonuses, promotions, or demotions.
• Interview candidates for vacant internal audit positions in coordination with the Human Resources Department (HRD).
• Perform other duties as the President/CEO may require.