VACANCY ANNOUNCEMENT - Internal Audit

Job Title :

Internal Audit

Location :

Garowe

Application Deadline :

31-Dec-2021 

Languages Required :

English and Somali

Duration of Initial Contract :

1 Year

Expected Duration of Assignment :

With further extension based on performance results

Background

Y-PEER Puntland is embarking on implementing new approaches to sustainable development. Today’s development challenges are getting increasingly complex and interconnected. Often, they cannot be addressed by traditional sector approaches. Innovative approaches and solutions are thus called for, and the organization is starting work differently.

Internal Auditors work independently of any single department at a company to act as an impartial judge of company behaviors. Their main role is to provide risk management support and to optimize efficiency by identifying possible noncompliance or sources of waste. They tend to work most closely with accounting materials, but may also audit other aspects of a business such as operational efficiency, employee review processes, information technology systems and legal liability. Internal Auditors study company policies then compare the written rules to actual business activities. They recommend ways to improve procedures or align them more closely with company goals.

Duties and Responsibilities

Internal Auditors use skills in organization and project management to better understand the record-keeping processes of an organization, while also offering recommendations for improvement. Internal Auditors have the following responsibilities:

• Evaluate financial documents for accuracy and compliance with federal regulations
• Identify the financial risk of the organization and offer recommendations to reduce risk.
• Identify accounting and financial record-keeping processes that can be improved
• Determine ways to cut costs and improve profitability
• Assess the efficiency and productivity of internal staff and make recommendations for improvement
• Present findings to upper management in the form of reports and presentations
• Attending meetings with audits to develop an understanding of business processes
• Travelling to different sites to meet relevant staff and obtain documents and information
• Researching and assessing how well risk management processes are working and recording the results using software such as Microsoft Word and Excel
• Providing ad hoc advice and guidance to managers and staff at all levels, sometimes by delivering courses and training sessions
• Performing risk assessments on key business activities and using this information to guide what should be covered in audits
• Anticipating emerging issues through research and interviews and deciding how best to deal with them
• Providing support and guidance to management on how to handle new opportunities
• Agreeing recommendations with relevant staff members to make improvements to operations and helping to secure backing for them in meetings
• Preparing reports to highlight issues and problems and distributing the reports to the relevant people
• Assessing how well the business is complying to rules and regulations and informing management of any issues that need addressing
• Managing a variety of stakeholders and their expectations through regular communications.

Required Skills and Qualifications

Internal Auditors typically have certain skills that will make them successful in their role, including:

• Strong communication skills to work with Accountants and other coworkers
• Excellent attention to detail to review large amounts of data and numbers
• Exceptional mathematical skills to verify entries
• Good critical-thinking skills to gather all of the available data and make informed decisions
• Excellent research skills to find all related information needed
• Proficiency in accounting software and spreadsheets

Education and Training Requirements

A minimum of a bachelor’s degree in accounting or a related field is often required to work as an Internal Auditor. Some hiring managers may prefer candidates with a master’s degree in accounting. Some Internal Auditors may also come from other industries like bookkeeping or business administration. Many accounting students will receive industry training through internships during their education. In addition to a degree, Internal Auditors often earn a Certified Public Accountant credential.

Experience Requirements

Previous experience, either in an internship or entry-level position, is often required to work as an Internal Auditor. Some hiring managers may choose to hire candidates with minimal experience whereas others prefer to hire an Internal Auditor who has years of experience in the industry. Additionally, some hiring managers may prefer Internal Auditors who have industry-specific experience. Experience in accounting, business administration or finance can also be useful for Internal Auditors.