Internal Audit Manager
Ebrahim Khalil Kanoo (Toyota & Lexus – Bahrain)
Total des années d'expérience :15 years, 11 Mois
Working as an Internal Audit Manager, in charge of managing a team of 4-5 audit professionals, responsible for planning and execution of internal audits for the assigned business operations/entities and reporting to the Chief Internal Audit Officer (CIAO). Responsibilities mainly include the following:
Audit planning: Assisting senior manager/CIA in developing and updating annual risk assessment, and preparation of risk-based annual internal audit plan considering the organization's objectives and requirements.
Risk Assessment: Identify and assess risks and controls within each division/function of the group before the execution of the planned engagements, ensuring controls are in place to mitigate potential risks/issues.
Audit Execution: Responsible for execution and delivery of internal audit plan (Planning, Execution, Reporting, and follow-up) which includes budget and resource allocations, communication of audit plan, conducting opening/closure meeting, developing and approving internal audit program for audited entity/function.
Performing comprehensive audits of various departments and functions to assess compliance, accuracy, and efficiency of the operations which results in improvement of the Risk Management System, Internal Controls, Corporate Governance Framework, reviews of Policies & Procedures, and ensuring the DOA compliance etc.
Team Leadership: Lead and manage the team of internal auditors directly reporting to me, providing guidance, and training, and ensuring high-quality audit work is done within the allocated timeline.
Reporting: Preparing detailed audit reports including executive summary with findings, recommendations, and action plans for improvement, and presenting these reports/summaries to senior management and the board.
Follow-up Audits: Monitor and track the implementation of audit recommendations to ensure corrective actions are timely taken. Providing support to the management in implementation of audit recommendations.
Process Improvement: As a part of business process enhancement, identify opportunities for process enhancements and recommend changes to increase the efficiency and effectiveness of the requested division.
Stakeholder Communication: Collaborate with the department heads and key stakeholders to address audit concerns and provide insights for decision-making.
Special management request/external meeting: Participate in management meetings including with external auditors/ entities and perform any ad hoc assignments requested by the CIA or the Management.
Regulatory Updates: Stay informed about changes in relevant regulations and standards that may impact the organization and prepare presentations for knowledge sharing within the team and the relevant department.
As an Internal Audit Manager, in-charge of managing team of 4 audit professional and reporting to Internal Audit Director and Chief Internal Audit Officer (CIAO), my responsibilities included the following:
Assisting IA Director in conducting and updating annual risk assessment and preparation of risk-based annual internal audit plan focusing on high-risk business areas identified during risk identification and assessment.
Responsible for the execution and delivery of internal audit plan (Planning, Execution, Reporting and follow-up). This includes budget and resource allocations, communication of audit plan, conducting opening/closure meeting, developing and approving internal audit program for audited entity/function.
Performed various audit engagements resulted in improvement of Risk Management System, Internal Controls, Corporate Governance Framework, reviews of Policies & Procedures, DOA compliance etc.
Develop process understanding of assigned business processes and understanding business objectives, main functions, nature of activities, potential risks, controls gaps and identify improvement areas for review function.
Developing detailed audit program including objective, potential risk, key control & audit procedures.
Identify business process improvement area and control gaps, identify the opportunities of cost reduction, operational inefficiencies, reviewing management policies and facilitate implementation of industry practices.
Drafting value added observations and developing practical recommendations for the business/Management.
Prepare internal audit report including objectives, scope, observations, root cause, impact and professional opinion along with practical and value-added recommendations to mitigate the risk identified in the process.
Developed good relationships with auditee, senior management and continually strive to improve the same
Conduct risk assessments and development of annual internal audit plan by assessing the area under audit.
Conduct group wide internal audits on processes and controls across finance and operations ensuring that risk and process design and implementation are assessed in addition to operating effectiveness.
Planning, conducting, managing the internal audit activities as per the approved internal audit plan.
Review business process and financial practices enterprise wide to ensure compliance with best practices, procedural efficiency, accuracy and compliance to regulatory standards.
Alignment of processes across global locations and ensure effectiveness and efficiency within departments.
Discussing audit findings with auditee and highlight observations to Management and to get their concurrence.
Follow up and provide support to the management in the implementation of audit recommendations.
Preparation of executive summary for each engagement along with the detailed report.
Participate in management meetings including meetings with the external auditor/ entities and perform any ad hoc assignments requested by the chief internal audit officer (CIAO).
Effective relationships internally with key departmental counterparts and with external parties etc
completed in 1st attempt