Manager/ Senior Manager - Internal Audit

Talent Leads Consultants
  • Mumbai, Thane
  • Confidential
  • 3-7 years
  • Views
  • 03 Apr 2018

  • Finance/ Accounts

  • Consumer Durables/ Semi Durables
Job Description

Job Description : Design a annual audit plan with a structured risk based approach - Gain an understanding of the objectives, activities, key risks and controls of the area subject to audit - Develop annual internal audit program and scope for the audit areas to ensure comprehensive audit coverage for the identified risks (40 auditable areas) - Review departmental priorities, business conditions and risks as identified from a wide variety of sources, including changes in IRDA regulations, past audits - Hold planning and prioritisation meetings within Risk Management and key stake owners, during these meetings, participants examined each auditable unit and offered their perspective on each unit's level of inherent risk, significance and regulatory risk involved To conduct audits to enable management an independent and objective opinion on the adequacy and effectiveness of control Audit Planning : - Participate in opening meetings with the function to explain the scope and objectives of the audit engagement to the function and provide an overview of all steps in the audit process - Develop a thorough understanding of business process in scope for the assigned audits Audit Fieldwork : - Develop a risk based test plan by selecting appropriate audit approach, test procedures and sampling criteria and perform audit tests and prepare working papers in accordance with professional IIA standards - Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives - Suggest practical and value added recommendations to address control weaknesses and / or process inefficiencies - Perform follow-up audits/reviews as generated by the Internal audit, External Auditors, Agencies, etc. to ensure management action plans are adequately implemented To ensure high quality of process audit findings and smooth closure of audits where services from external service providers are taken on technical and specialised areas - Review the work papers of external auditors on the assignment, where applicable, to ensure they comply with the agreed standards - Provide inputs to the external auditors during the conduct of audit for documenting the key processes and associated controls - Sharing best practices with the auditors for value addition to the company - Ensure auditor's recommendations are complementary to the business strategy and finalise the audit findings with the function heads for the activities being audited Conduct IFC Review of assigned areas to provide inputs to statutory auditors on assigned process areas to meet compliance to reporting requirements on Internal Financial Controls under Section 143(3)(i) of the Companies Act, 2013 - Identify and document the risk to the preparation of the financial statements in accordance with the applicable financial reporting framework - Ensure adequate documentation in terms of listing of key risks, control noted in the process and evidence with which assurance is drawn, aligning it to the IFC requirements which will help in integrating the IFC with Internal audit approach - Provide inputs to statutory auditors to ensure compliance to reporting requirements Perform data analysis using analytic tools for identified areas to ensure that controls are tested over entire database - Conduct comprehensive data analysis for areas, as directed by the management - Perform review to identify gaps, root cause, conclude on the outcome of the analysis and recommend remediation plan - Prepare / summarise in the form of a report for release and discuss / substantiate the facts / outcome with the business function


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