Internal Audit supervisor
Bukhamseen International Group for contracting
مجموع سنوات الخبرة :17 years, 7 أشهر
• Established Internal Audit department by developing internal audit policies and procedures to regulate, standardize and document the audit activities. This policies cover the processes of annual audit plan, documentation, audit reporting and follow-up.
• Established Annual audit plan to cover high risk areas based on discussions with audit committee and owner.
• Executing audit assignments through audit procedures from planning, field work and reporting, and sending audit reports including observations, impacts, recommendations and division heads responses to owner.
• Reviewing (As-is) processes for any weaknesses or potential threats, and recommending (To-be) Processes.
• Established whistle blower policy in order to encourage internal or external parties to come forward and share their knowledge’s on any illegal activity, fraud, corruption, collusion…etc. trying to prevent or detect such wrongdoings.
• Executing Ad-Hoc audits based on different circumstances or top management requirements, and forwarding results to owner.
• Lead assurance and consultants audit assignments based on holding company instruction and forwarding results to Group CFO.
• Assigned to attend and capture minutes of meetings for board meetings.
IMCO Engineering & Contracting Company
Established in 1970, IMCO started as pioneer in the industrial Electrical & Instrumentation fields in Kuwait. Today, it is one of the leading engineering and construction companies in the Oil, Petrochemical, Power and Water sector.
Duties and responsibilities:
Conduct internal audit of assigned organizational and functional activities as per accepted audit standards to evaluate the adequacy and effectiveness of controls and make recommendations to improve efficiency of business operations, the following represent the key responsibilities:
• Analyze functions and activities in assigned areas to determine the direction and thrust of the proposed engagement effort.
• Determine internal audit scope and develop annual plans in coordination with audit manager.
• Performs audit procedures, including identifying and defining issues, developing criteria,
reviewing and analyzing evidence, documenting auditee's processes and procedures, preparing audit findings memorandum and documenting recommendations using independent judgment concerning areas being reviewed.
• Perform auditing on the basis of informed, objective conclusions on the adequacy and effectiveness of the system and the efficiency of performance of the activities being reviewed.
• Prepare audit reports expressing adequacy and effectiveness of the systems and controls and the efficiency with which activities are carried out by the organizational units, recommend corrective actions and forward to Auditee with risk ratings.
• Appraise the adequacy of the corrective action taken to improve deficient conditions and efficacy of recommendations.
• Act as an objective source of independent advice to ensure validity, legality and goal achievement
• Identify loopholes, recommend risk aversion measures, and cost savings.
• Conduct follow up audits to monitor management’s interventions
Duties and responsibilities:
• Conducting the auditing process in accordance with International Standards of Auditing (ISA).
• Obtain an understanding of the client’s Operation, Business & Industry.
• Assess the risk areas over the client’s different Departments & Sectors and provide recommendations to mitigate these risks and maintain the highest performance standards for the interest of the clients.
• Assess the clients internal control environment, detect the weaknesses and identify them, report on these weaknesses to the senior management and audit committee.
• Evaluate control efficiency and effectiveness and determine whether the controls in place are adequate.
• Develop & perform audit tests to ensure the efficiency of the internal controls over the client’s different operations & processes.
• Consider Preliminary Engagement Materiality.
• Perform analytical reviews of audit documents and prepare the working papers documentation, which supports our audit opinion & findings.
• Determining whether the organization adheres to applicable laws and regulations.
• Supervise the audit work of any assistants to make sure that they are not deviated from the audit objectives and they are on the right track.
• Propose adjustment and reclassification of journal entries based on our audit to the company.
• Audit the financial statements, through performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.
• The following represent part of engagements assigned:
- Al Imtiaz Investment Group
- Iskan Housing Finance Co.
- The Commercial Real Estate Co.
- Al Safwa Group Holding Co.
- Al Aqeelah Leasing Financing & Investment Co.
Grade : Good