The Internal Auditor will provide independent, objective assurance and consulting services designed to add value and improve the Venture Capital Trust Fund operations. He/She will help VCTF accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve risk management, control, and governance processes by the Standards for the Professional Practice of Internal Auditing, and conformity with the Internal Audit Procedures Manual and the Public Financial Management Act, 2016 (Act 921).
Duties and Responsibilities:
The responsibilities and duties of the Internal Auditor include:
- Determining the reliability and adequacy of accounting, financial, and operational controls at VCTF.
- Assessing the extent to which assets are accounted for and safeguarded against losses;
- Ensuring that reliable records form the basis for preparing appropriate financial and other data for decision-making.
- Monitor and ensure that expenditures are fully authorized and are within budgetary provisions.
- Appraise and report on the soundness and application of the system of controls operating in VCTF.
- Evaluate the effectiveness of the risk management and governance process of VCTF and contribute to the improvement of that risk management and governance process.
- Provide assurance on the efficiency, effectiveness, and economy in the administration of the programmes and operations of VCTF.
- Evaluate compliance of VCTF with enactments, policies, standards, systems, and procedures.
- Prepare an annual audit plan of activities required to be performed in a financial year, as determined by the risk assessment, including fiscal risk, in accordance with the guidelines issued by the Internal Audit Agency.
- Report on Budget planning and implementation, compliance with VCTF goals and objectives, development initiatives, and procurement of goods, services, and works as well as Report on Value for money on expenditures.
- Follow up on agreed audit recommendations and required corrective actions to be performed.
- Develop and submit the annual audit work plan to the principal spending officer and the audit committee as established under section 86 of the PFM Act.
- Coordinate coverage with external auditors and be briefed on areas of concern.
- Issues quarterly reports on the execution of the annual audit work plan to the Principal Spending Officer, Audit Committee, Auditor General, and Director General of the Internal Audit Agency
- Report any incidents of suspected fraud or misuse of public funds to the Principal Spending Officer.
SKILLS AND COMPETENCIES:
Must demonstrate expertise in the following areas:
- Good interpersonal skills with a proven ability to communicate effectively.
- Decision-making Authority and ability to stand firm on difficult issues when required
- Strong analytical skills and good accounting knowledge in IFRS, IAS, GAAP and ISO.
- Industry Knowledge (Private Equity and Venture Capital)
- Independence and Objectivity to ensure integrity, the credibility of the audit process, and having a neutral mindset.
- Financial Acumen to assess VCTF’s financial health and integrity.
- Critical Thinking and Flexibility to analyze complex issues and make informed decisions.
- Regulatory knowledge by staying current with industry regulations and compliance.
- Risk Assessment skills to effectively identify, assess, and mitigate risks within VTCF
Requirement:
Master’s degree in a relevant field such as Finance/Accounting/Business Administration from an accredited university plus a professional designation in Accounting or Auditing- ICAG, ACCA, CIA, CISA.
At least seven (7) years of working experience in Audit/Accounts in a senior position.
Interested applicants should click on the link below to fill the form by Friday, 29 August 2024.
NB: Only short-listed candidates will be contacted by employer.