About the Role
The purpose of this role is to conduct comprehensive audits and evaluations of management controls over financial activities and operations, ensuring that robust internal control systems are both implemented and functioning effectively. The position involves the execution and follow-up of financial audits as agreed with the Department Manager, culminating in the preparation of final audit reports, findings, and recommendations for corrective action plans.
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Responsibilities
Annual Risk-Based Internal Audit Plan
- Perform quarterly and annual risk assessment exercises conducted by the Audit & Assurance Division for the assigned organizational units.
- Develop an annual Risk-Based Internal Audit Plan based on the outcomes of the risk assessment exercise.
Internal Audit Planning
- Identify and discuss the objectives and approach of proposed audit efforts with the Department Manager, as directed.
- Participate in planning assigned audit reviews’ approaches and scope, and prepare the audit program.
- Recognize risks and mitigating controls, preparing the audit testing program for agreed audit review scope areas.
- Assist in planning and executing comprehensive audit programs to evaluate management control over financial procedures, policies, and activities in various areas as per the approved audit plan.
- Review the completeness, appropriateness, and effectiveness of internal controls, processes, procedures, and policies in place, providing audit findings and recommendations.
- Conduct preliminary reviews of audit assignments to establish scope and develop audit plans, including testing.
- Support the Department Manager in developing and executing audit assignments.
Internal Audit Execution
- Execute the approved annual audit plan, ensuring adequate evaluation of internal controls in all audited areas.
- Identify areas requiring additional audit coverage to ensure adherence to systems, procedures, and internal controls.
- Collect and analyze necessary evidence to assess potential procedural risks.
- Update the Risks Assessment Process and prepare the Risk Register of auditable entities.
- Evaluate the adequacy and effectiveness of process controls, modifying audit review scope as needed with Department Manager approval.
- Determine auditing procedures to be applied, utilizing IT Audit techniques, sampling methods, etc.
- Analyze and review financial and operational systems, policies, and procedures, offering value-added recommendations to improve controls.
- Review and discuss all matters, control gaps, and issues disclosed in audit reports with concerned staff.
- Obtain and review audit evidence to conclude on the adequacy and effectiveness of internal control systems over the reviewed activities.
- Prepare and document working papers related to audit tests performed, adequately supporting observations, results, and conclusions, ensuring documentation is updated within the Audit Management System (AMS).
- Supervise and support audit activities performed by auditors to ensure the timely and effective progress of audit programs.
- Monitor and follow up on schedules of assignments, ensuring tasks are completed according to the annual audit plan. Distinguish between critical and non-critical tasks, prioritizing accordingly for quality and promptness.
- Follow up with auditors on the adequacy, thoroughness, and completeness of work carried out, reviewing weekly audit program progress and updating the weekly audit staff work schedules for the Department Manager.
Minimum Qualifications
- Bachelor’s Degree in Commerce/Accounting.
Minimum Experience, Knowledge & Skills
- 8 years of professional experience in auditing, preferably within the oil and gas industry or international audit firms.
- Hands-on experience with an audit management system.
- Experience in an ERP environment, preferably SAP.
- Strong verbal and written communication skills in English; knowledge of Arabic is a plus.
- In-depth knowledge of IFRS, budgeting, and management accounting principles.
- Excellent report-writing skills with the ability to articulate complex issues clearly.
- Proficient in Microsoft Office, particularly Word, Excel, and PowerPoint.
- Capability to work independently and collaboratively as part of a team.
- Strong critical thinking and analysis skills.
- Thorough understanding of internal audit, corporate governance, and risk management.
