14 February 2011
Internal Audit Service Internal Auditor Duties and Responsibilities Works with the University President and Audit Committee in planning and organising the activities of Internal Audit including: a. preparing an annual audit plan which fulfils the responsibility of Internal Audit, b. scheduling and assigning work to meet completion dates, and c. estimating resource needs. Confers with Company management and the Audit Committee on policies, programmes, and activities of the Internal Audit Service; makes recommendations regarding specific areas of responsibility. Develops and updates audit programmes and checklists; plans and monitors audit work schedules; and develops and recommends implementation of forms, systems, and procedures to carry out responsibilities and accomplish goals of the Internal Audit Service. Ensures that accepted accounting and audit principles and policies are followed, and evaluates the adequacy and effectiveness of internal accounting procedures and operating systems and controls. Meets with Company management at all levels and the Audit Committee of the Board of Directors, as necessary, to discuss audit plans and results and make recommendations to resolve audit findings requiring corrective action Ensures maintenance of high standards and quality of audit projects by: a. review and approval of audit programs and time budgets, b. implementation of policies and establishment of procedures covering the scope of audits, c. review and evaluation of work papers of completed projects to be certain that adequate documentation has been gathered and that the work papers document and provide an adequate basis for reporting, and d. review of draft audit reports in connection with work papers to assure full and complete reporting in a professional manner prior to approval by the University President and Audit Committee. Coordinates coverage with external auditors. Coordinates coverage with other members of the EOLAS group in terms of university compliance and risk management. Confers, advises, initiates, and coordinates with other departments about policies and procedures. Develops hypotheses and accounting and statistical tests to determine if desired program results and benefits are being achieved. Identifies and analyses causes of uneconomic and inefficient practices in assigned areas of responsibility. Assesses alternatives, which might yield desired results. Assures follow up of audit findings to ensure adequacy and timeliness of correction. Presents findings and recommendations concerning activities audited to the University President and Audit Committee. Coordinates audit activities with other departments to secure resources needed to evaluate programs and conduct audits. Participates in development of Internal Audit's annual budget and monitors subsequent expenditures. Develops professional capability through on-the-job training and staff training programs. Performs special audit-related projects as assigned. Performs other duties as assigned.
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