Internal Audit Director
STC
Total des années d'expérience :16 years, 1 Mois
The Saudi Industrial Development Fund plays a pivotal role in the fulfillment of the objectives and policies of programs devised for the industrialization of Saudi Arabia. It implements these programs through the provision of financial assistance in the form of short term loans to investors in industry besides offering technical, administrative, financial and marketing advice at the highest professional levels to borrowers. These activities combine to ensure the success of potential industrial projects while simultaneously enabling borrowers to negotiate obstacles they are likely to encounter.
Services provided by my division ( Audit & Financial Analysis Division ) are:
Audit of fixed asset costs for average and large-size projects upon such assets reaching the given level specified under the manual for Credit Department Policies and Procedures and Project Studies and Consultancy.
During the initial phases of large projects implementation, the division reviews adopted procedures and guidelines to ascertain adequacy of controls applied to implementation.
Upon the request from any of the Credit Divisions, AFAD personnel carryout the following duties;
Investigate certain accounting processes as deemed necessary
Assist in the preparation of financial statements for certain borrowers based on accounting books and records
Examine financial and costing system applied by borrowers
Appraise competency of financial managers and accountants hired by borrowers, further to appraisal of internal audit systems
Render consultancy services on the selection and application of proper accounting and financial control systems (automated and manual), in addition to submission of necessary recommendations regarding adoption of the generally accepted accounting principles.