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About the job
This position will be responsible for conducting internal process audits of all The Company departments as well as some vendors as needed. the position holder should have experience in conducting the necessary audits to ensure we are compliant to our internal procedures, regulatory and governmental requirements. and will work closely with multiple business divisions to review and audit their processes and make recommendations for process management/improvement.
Roles and Responsibilities:
Prepare a quarterly written report on the internal audit department's work, including the scope of the audit, its findings and recommendations, the actions taken by each department regarding the results and recommendations of the previous audits, and any observations in their regard.
Prepare an annual written report, submit it to the Audit Committee regarding the yearly audits conducted, and compare them with the approved audit plan.
Follow up on the commitment of all departments to the internal audit or the Saudi Central Bank observations and recommendations in a timely and complete manner.
Prepare a quarterly report updating the Saudi Central Bank on the status of the observations and recommendations from their visits with the Company's action plans and target dates.
Develop a flexible audit plan using an appropriate risk-based methodology, including any risks or internal control concerns identified by Management with coverage of all significant and high-risk areas, and submit the plan to the Audit Committee for review and approval.
Review, appraise, and evaluate the soundness, adequacy, and effectiveness of accounting, financial, and operational internal controls to ensure that the Company's funds and assets are accounted for and safeguarded from losses.
Review the accuracy and reliability of accounting records, financial reports, and management information systems, including electronic information systems.
Implement the audit plan, conduct an audit of transactions per formulated audit programs, and issue audit reports to the Audit Committee containing an executive Summary detailed audit report including observations, comments, and recommendations along with the auditee action plans of correction and target dates.
Recommend appropriate measures for preventing fraud and eliminating conditions inducing fraudulent actions.
Undertake special investigations/assignments regarding allegations of financial irregularity, fraud, and corruption that are promptly and fully investigated.
Effectively manage internal audit department budgets and other allocated resources.
Liaison with external auditors so that external and internal audit functions could be carried out efficiently and effectively with minimum duplication of efforts.
Participate in meetings of the Management involving consideration of policies, procedures formulation matters, and other allied matters relating to the organization's overall operations.
Perform audit procedures, including identifying and defining issues, developing criteria, reviewing and analyzing evidence, and documenting the auditee's processes and procedures.
Conduct interviews, review, document, conduct walk-through tests, develop and administer surveys, and compose summary memos and working papers.
Identify, develop, and document audit issues and recommendations using independent judgment concerning audited areas.
Perform other tasks as required and as assigned by the Audit Committee.
Seniority Level: Director-Level
Job Functions: Finance & Accounting
Industries : Information Technology
