Internal audit manager
Al Yaum media house
Total years of experience :25 years, 4 Months
This position leads the Internal Audit Department in the accomplishment of its mission to provide assurance and consulting services to the company and to assist in the management of Alyaum risks. I manage a current staff of two professional auditors who along with me make up the Internal Audit department.
Develops a flexible annual audit plan using appropriate risk-based methodology, including any risks or control concerns identified by management, and submit that plan to the audit committee for review and approval.
Implements the annual audit plan, as approved, including, and as appropriate, any special tasks or projects requested by management and the audit committee.
Maintains a professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the requirements of this charter.
Leads the activities of the department to ensure that all work is performed independently without bias, with due diligence and timeliness, with adequate support for appropriate findings and recommendations provided in well-written reports.
Establishes a quality assurance program by which assures the operation of internal auditing activities.
Performs consulting services, beyond internal auditing’s assurance services, to assist management in meeting its objectives. Examples may include facilitation, process design, training, and advisory services.
Performs or assists in the investigation of significant suspected fraudulent activities within the organization and notifies management and the audit committee of the results.
Evaluates and assesses significant new or changing services, processes, operations, and control processes coincident with their development, implementation, and/or expansion.
Issues periodic reports to the audit committee and the board summarizing results of audit activities.
Keeps the audit committee informed of emerging trends and successful practices in internal auditing, and provide an annual list of significant measurement goals and results.
Develops appropriate departmental operating .
Develops an annual budget request that will provide sufficient training for the Internal Audit Department staff to meet performance expectations; that will obtain the supplies, equipment and technology necessary to execute planned engagements and support routine operations; and that will provide sufficient personnel staffing to meet the audit needs of the company.
Serves on committees, task forces or other ad hoc groups as requested
Undertakes audit duties within assigned Areas, using specific criteria to ensure that the company management and operations are in compliance with the terms and conditions. Ensures that audits conducted comply with International Standards of Auditing Review internal controls over specialized processing cycles Evaluate accounting systems to determine their efficiency and effectiveness Serve as a liaison with key business areas to ensure changes in business processes are updated in the documentation database Identify audit issues and develops recommendations Conduct investigations of suspected improprieties in a confidential and professional manner Develop recommendations for areas of improvement, write reports documenting findings, and follow up on recommendations to ensure suggestions are implemented Complete audit reports for dissemination to management and ensure proper follow up outstanding items and recommendations
Responsibilities: • Directing a crack team of highly qualified accounts & auditing professionals in planning, organizing, directing, controlling and evaluating the operations of the internal audit department. • Planning, directing and conducting internal audits to access, monitor and improve effectiveness of internal controls and financial recordkeeping. • Performing all internal audit operations including plan preparation, work papers, findings and associated reports whilst verifying the accuracy of financial records pertaining to asset liabilities, receipts, expenditures and related transactions. • Spearheading the development and implementation of financial policies, systems procedures and guidelines to ensure smooth cash flow, streamlining budgets and establishing stringent procurement and expense guidelines. • Preparing an annual audit plan using quantitative analysis and statistical techniques to rank areas of risk and ensuring audit schedule is met within timelines and budget. • Conducting annual risk assessment process and developing and planning financial, operational and compliance reviews. • Playing an active role in formulating short and long range goals, policies and operating procedures in coordination with the management in addition to developing and managing annual operating budgets for the operating unit. • Liaising and interacting with vendors and suppliers of the hospital in addition to coordinating and interfacing with management, staff, external audit and law enforcement agencies on all matters pertaining to internal audit procedures. • Developing policies, procedures and methods to direct and conduct internal audits to the highest standard whilst ensuring compliance with corporate policies, procedures and other internal controls. • Keeping abreast of all current developments in accounting and auditing process, legal changes along with changes in company policies and procedures.
• Successfully participated and handled audit and accounting assignments in a wide range of organizations encompassing financial institutions and banks, trade, investment and brokerage firms and non profit organizations.
Responsibilities:
• Part of a crack team of auditors responsible for examining and analyzing the financial and accounting records of individuals and establishments, ensuring accuracy and compliance with established accounting standards.
• Assisted the members of the audit team and senior members during the planning phase to ensure audit objectives and scope are appropriately defined in addition to developing preliminary audit programs.
• Determined and established appropriate scope and control objectives for the area under purview and evaluated the systems of control to determine the areas of highest risk.
• Monitored audit efforts by tracking it against allocated time budget and provided staff auditors with technical counseling and direction.
• Perused and analyzed all accounts documents including ledger & journal entries, bank reconciliation statements, assets, inventories, accumulated depreciation expenditures, tax returns etc as per accepted international accounting standards and procedures.
• Analyzed data collected after audit to prepare detailed analytical reports on audit findings recommending improvements in accounting and management practices.
• Reviewed cases involving potential fraud and suspicious activities by perusing supporting documents, contacting parties associated with the case and developing other leads and assessing the ability of the internal control systems to detect and prevent such cases.
• Created work products such as audit analysis, correspondence to clients, memoranda and other working papers that document the procedures performed and the findings and results of those procedures.
Relevant Professional Training: • International, American & Egyptian Accounting Standards • KPMG Audit Manual (KAM) • KPMG Audit & Accounts Services Manual(KAASM)