Group Head Internal Audit
Al Muftah Group
Total years of experience :19 years, 1 Months
Management of Internal Audit Department (IAD) in accordance with the approved Internal Audit Charter, policies, procedures, IIA guidelines, and instruction from the Audit and Risk Committee. Direct Monthly Reporting to Top Management.
Selection, Recruitment and/or development of professional internal audit staff.
Managing the department within approved Budget limits and get timely approvals for revised budgets from the higher management.
Review and monitoring of the IAD Charter, policies and procedures on yearly basis for need or opportunity for improvement.
To provide support, education and training to staff to build risk awareness within the organization.
Develop annual goals, objectives and performance target of the Department staff and responsible for carrying out the yearly appraisal of the staff as per the set standards and criteria.
To participate in review/conduct of Risk Assessment, this involves analyzing risks as well as identifying, describing and estimating the risks affecting the business.
Finalization of a Risk Based Audit Plan using appropriate risk-based methodology, including any risks or control concerns identified by management, along with Audit Scope and timing of Audit.
Implementation of the audit plans, as approved, including, and as appropriate, any special tasks or projects requested by Management on adhoc basis.
To Report various audit observations in an appropriate way (Power point Presentation) for different audiences, like Process Owners and Department Managers through Internal Audit Worksheet and Draft/ Final Internal Audit Report and finally separate Key Management Issue Report for significant issues to BOD/ Top Management.
Conduct closing meeting with auditee management to resolve any pending issues.
Review and approve the Final Audit Reports and submits it to Group Head Internal Audit for chairman and Audit and Risk Committee attention.
Maintaining a follow-up mechanism on previously reported observations to monitor implementation of actions agreed by Management.
Management of Internal Audit Department (IAD) in accordance with the approved Internal Audit Charter, policies, procedures, IIA guidelines, and instruction from the Audit and Risk Committee.
Selection, Recruitment and/or development of professional internal audit staff.
Managing the department within approved Budget limits and get timely approvals for revised budgets from the higher management.
Review and monitoring of the IAD Charter, policies and procedures on yearly basis for need or opportunity for improvement.
To provide support, education and training to staff to build risk awareness within the organization.
Develop annual goals, objectives and performance target of the Department staff and responsible for carrying out the yearly appraisal of the staff as per the set standards and criteria.
To participate in review/conduct of Risk Assessment, this involves analyzing risks as well as identifying, describing and estimating the risks affecting the business.
Finalization of a Risk Based Audit Plan using appropriate risk-based methodology, including any risks or control concerns identified by management, along with Audit Scope and timing of Audit.
Implementation of the audit plans, as approved, including, and as appropriate, any special tasks or projects requested by Management on adhoc basis.
To Report various audit observations in an appropriate way (Power point Presentation) for different audiences, like Process Owners and Department Managers through Internal Audit Worksheet and Draft/ Final Internal Audit Report and finally separate Key Management Issue Report for significant issues to BOD/ Top Management.
Conduct closing meeting with auditee management to resolve any pending issues.
Review and approve the Final Audit Reports and submits it to Group Head Internal Audit for chairman and Audit and Risk Committee attention.
Maintaining a follow-up mechanism on previously reported observations to monitor implementation of actions agreed by Management.
- To identify of major risk areas for Operational & Financial audits,
- Finalization of Audit Programs & Internal Audit Checklist for auditable division to be used by audit executives,
- Review of deficiencies in the internal control system employed in the organization.
- Auditing of various business auxiliary divisions like Showrooms, Service Centers, Parts Business etc & Head Office functional departments like HR & Administration, Finance, Projects, Logistics,
- To provide software trainings and audit trainings to new audit staff,
- Initial discussion of audit observation with concerned division heads
- Finalizing the Internal Audit Report & Executive Audit Summary after incorporating the auditee’s comments,
- Regular follow-up on the status of implementation of audit recommendations,
- To Assist Chief Internal Auditor in Audit Committee presentations, audit newsletter for Top Management,
- To undertake mostly special Assignments & fraud Investigation given by chief Internal Auditor,
- Preparation of audit plans in view of departmental policies & procedures for execution of audits,
- Auditing of Commercial Vehicle business, two wheeler business, Personal loan, Credit Department, Collection & recovery Department, and Human Resource & Finance,
- Handling Branch audits to review the internal control system at the branch location,
- Review of deficiencies in the internal control system and suggesting the changes required.
- Finalizing the Internal Audit Report & Executive Audit Summary after incorporation the auditee’s comments,
- Follow-up on the status of implementation of audit recommendations,
- Review of the internal control system at branches.
- Verification of various compliances of all business operating guidelines issued by the HO,
- Credit appraisal and evaluation procedure followed at branches for various loan segments.
- Recovery related issues, which include analysis of arrears in various business segments, review of performance analysis of recovery agencies.
- Preparation and finalization of audit report after incorporating the branch manager response.
- Preparation of executive and audit summary for management review.