Job Purpose
- The Internal Auditor will be primarily responsible for assisting the GIAC in ensuring Princes Limited and its subsidiaries (Princes Group) comply with JSOX (Financial reporting) legislation
- The role will perform internal audits in line with the risk based internal audit plan within Princes Group. As part of this process audit findings will be discussed with management and recommendations agreed to close the identified issues
- The role will also assist in facilitating the risk management process for Princes Group. This will involve working with the functional Directors to identify and assess company risks
Dimensions
- The Internal Auditor will work with the Princes Group managers and process owners to test the operation of internal controls within the group in order to comply with JSOX
- The role will also work closely with the Group Internal Audit Controller and the external auditors to ensure the adequacy of the control framework within the group
- The Internal Auditor will assist in managing the internal controls compliance process to ensure compliance targets are met on an annual basis
- The role will work under the guidance of the Group Internal Audit Controller to ensure that the internal audit plan is delivered on a timely basis. As part of this process, reports will be prepared which includes agreed audit findings and recommendations
- Assist the GIAC in facilitating the risk management process for the group
Principal ResponsibilitiesFinancial Reporting Controls (JSOX)
Test financial reporting controls under the guidance of the Group Internal Audit Controller (GIAC). This will involve the following key tasks:
- Read the process mapping documents and RCMs to understand the process and controls being reviewed
- Liaise with the business process owners to arrange test dates and agree the test information required
- Follow the control test scripts to ensure that all the controls are tested to the required standards
- Document the control tests to a standard for review by the GIAC
- Keep the testing timetable updated so that the GIAC can prepare weekly status reports on a timely basis
- Assist the GIAC in managing the remediation of any failed controls. The GIAC will agree the remediation initially. The Internal Auditor will then be responsible for reviewing the remediation performed, testing the new / amended controls and then closing the issue. Any process changes will also be documented
- Assist in preparing an audit file for the external auditors (Deloitte). The Internal Auditor will pull together all the relevant test sheets and evidence for reviewing by the GIAC prior to the file being passed to Deloitte. The role holder will have responsibility of chasing up any missing evidence. Any questions that Deloitte have over the test evidence will be addressed by the role holder
Internal Audits
Assist the GIAC in performing internal audits of operational areas within the Group. Key responsibilities will be:
- Performing risk assessments of the audit area
- Preparing audit programs for the agreed audit areas
- Performing and recording audit fieldwork to ensure all identified risks are mitigated
- Preparing audit files to a level that is ready for review by the GIAC
- Assisting in the preparation of the audit reports including audit issues
- Populating and managing the audit issue log to ensure audit issues are addressed in a timely manner
Risk Management
Assist the GIAC in maintaining the company risk registers by updating for new risks, reviewing mitigation processes and providing risk reports
Other projects
- Assist in rolling out financial reporting controls to overseas subsidiaries. The Internal Auditor will be responsible for maintaining the control issues log, validating and closing any issues as well as documenting the financial reporting processes of Princes Limited group companies
- Get involved in business change projects in order to provide risks and controls advice at the request of the GIAC. The GIAC will attend the project briefing and instruct the role holder of the new project. The role holder will then keep close to the project team to ensure all internal controls as well as risks are mitigated as part of the project
- Prepare and provide status reports as required to the GIAC as well as the business managers