Internal Audit and Risk Assessment Strategy
• Develop annually a risk -based internal audit plan for review and approval to the Apex members. Keep Apex members apprised of any changes needed to the internal audit plan
• Ensure audit coverage of store operations, inventory, Finance, SOPs(Standard Operating Procedures) of Enabling functions and B2B function
• Perform organization -wide risk assessments to identify significant risks or exposure related to internal controls or compliance with organisation’s policies and procedures, laws and regulations, sponsored contract and regulatory requirements, efficiency of operations, and accuracy of programmatic and financial reporting. Proactively inform senior management of significant risks or exposures
• Provide assurance to the management on the adequacy of the control environment within the organization
• Create awareness on internal control systems and changes in external policies impacting the organization
• Benchmark the internal control systems with the industry best practices and introduce relevant systems
• Remain current on audit and regulatory oversight trends and develop a risk based approach incorporated into the annual audit plan
• Participate in committees and task forces defining policies, procedures and regulations and provide inputs from an internal control system perspective.
Internal Audit Plan Implementation
• Oversee the implementation of the approved plan, ensure proper resourcing for implementation of the plan, and adjust the plan as needed in response to changes in organisation’s business risks, operations, programs, systems and controls
• Ensure internal audit team conducts concurrent audits as per the plan
• Perform detailed and systematic audits to identify areas of improvement
• Prepare and present audit findings, recommendations, and action plans to management and stakeholders
• Review deviations on compliance to policies, procedures and regulations and take required actions. Ensure follow up on findings and corrective actions
• Provide feedback and recommendations on business risks and improving operational efficiencies and processes where appropriate
• Provide technical assistance with investigations, special audits, and provide subject -matter expertise as needed
• Maintain audit technology platform leveraging support from the information systems group as needed
Stakeholder collaboration
• Collaborate with department heads to develop and continuously improve policies, processes, Standard operating procedures (SOPs), and internal controls
• Develop an ecosystem of external auditors / service providers
• Review and assess performance of external auditors / service providers including on a continuous basis to align with the requirements of the organization
People Leadership
• Establish and assign departmental goals to team members and evaluate their performance
• Lead and manage a team of internal auditors, providing guidance, coaching, development opportunities and support
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