Chief Audit Executive

JOB DESCRIPTION

Directs and develops the strategic plan for the audit function.

Contributes to the Companys strategic plan.

Develops the annual operational and audit plan including the KPIs.

Provides leadership in the development of the 3 year risk based internal audit plan, discussed with Exco and Management (, and approved by Audit Committee.

Ensures alignment between the internal audit strategy and the overall Company strategy.

Ensure continuous awareness of the Internal Audit function within the organisation.

Prepare and monitor the internal audit and forensic services budget.

Monitor budget on projects.

Operational Budget discussed with CEO / CFO / Exco, obtain endorsement from the Audit Committee, and final approval by the Board.

Development of audit charter and / or policies, and procedures / methodologies.

Develop and monitor the implementation of quality measures through continuous quality and period internal and external quality assurance initiatives.

Ensure compliance with PFMA, IIA standards, Prudential Standards and relevant best practice (i.e. King IV Code,).

Prepare the annual written assessment on the system of internal controls and present to the Audit Committee.

Contribute towards the success of the combined assurance.

Identifies and manages internal audit department.

Contribute to the Companys risk identification process.

Oversee and monitor the implementation and execution of the internal audit plan.

Oversee and monitor internal audit operations

Ensure the development and review of forensic investigation policies, procedures and manuals.

Oversee the forensic investigation plans, strategies to ensure effective risk management.

Review the effectiveness of fraud prevention and detection plans.

Oversee the forensic investigations and ensure that factual findings are correct and recommendations are sound.

Communicates the results of audit and advisory projects via written reports and oral presentations to management and audit committee (the board of directors where necessary).

Communicates the extent to which management have implemented the previously corrective actions (follow-up reviews) and results of such assessments.

Determine the optimal structure of the function, including considerations of co-sourcing

Manage structure and focus the work of the internal audit team.

Directs audit staff in the planning, organising, directing and monitoring of internal audit operations.

Ensure that annual performance objectives are set and understood by team members.

Development areas identified and career development plans in place for team members.

JOB REQUIREMENTS

Qualifications

Bachelors degree

Relevant post graduate qualification

Certification either as a CIA or CA (SA)

Experience

Ten years of full-time experience in auditing and accounting including six of senior management experience.

Experience with reporting to Exco and / or Board Sub-Committees (ideal)

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