Application Open:
Full-Time
Job Purpose:
The Head of Internal Audit is responsible for developing and implementing the internal audit plan based on the university’s strategy and Abu Dhabi Government regulations. The Head will be identifying internal control, governance, and compliance risks and embedding preventive and corrective measures in departmental strategies.
The Head will conduct regular internal audits and compliance reviews, assess the university’s financial functions, and develop corrective plans for any identified issues. Furthermore, this role will coordinate with external auditors, monitor the effectiveness of audit-related corrective measures, and ensure compliance with regulatory requirements.
Key Responsibilities:
Internal Audit Strategy Development:
- Develop and implement the Internal Audit strategy and plan in line with the university’s strategy and operations to ensure vertical alignment and horizontal integration with other interfacing departmental strategies across the University.
- Oversee the assessment and identification of potential and actual control risks and prepare a risk-based Internal Audit strategy to protect the University from unnecessary risk and manage the effectiveness of administrative & financial control mechanisms.
- Develop and manage the university’s Risk Register and ensure its alignment with the Abu Dhabi Government and other UAE-related standards, policies, and processes.
- Conduct audits to measure the effectiveness of the risk management frameworks.
- Monitor and ensure the implementation and effectiveness of audit-related corrective measures requirements and submit the related reports to the Audit Committee and the Board of Trustees accordingly.
Internal Audit Operations:
- Develop the Audit Plan based on the university’s strategy and any Abu Dhabi Government-related laws, regulations, standards, policies, and processes and ensure its implementation.
- Conduct regular internal audit and compliance reviews and assessments of the university’s internal control and governance frameworks, financials, and other related functions, policies, and procedures, develop the related corrective plans and recommendations, and submit the related reports to the Audit Committee and the Board of Trustees accordingly.
- Coordinate with respective divisions/departments to follow up on implementing risk mitigation plans and corrective measures.
- Coordinate with external auditors and ensure they fulfil the university’s financial audit requirements.
Audit Process:
- Oversee the review of the audit process and its implementation within the university by delivering a comprehensive, ongoing risk-assessment process for the University to assess the effectiveness of legal, financial, and operational control mechanisms.
- Develop audit programs to detail the various steps for conducting audits based on the assessment of risk and develop a semi-annual audit plan to systematically cover the various risk areas in the business environment.
- Direct auditors to conduct audit fieldwork to ensure the audit programs are conducted in line with audit plans.
- Recommend amendments to policy and standard operating procedures to enhance internal controls and mitigate the risk.
- Review the audit reports drafted by auditors for each program to ensure they are comprehensive and accurate in their key observations and findings, address the main audit concerns, and provide value-added recommendations for improvements.
- Facilitate special “ad hoc” assignments as directed by the president or the Internal Audit Committee of the University.
Departmental Strategies:
- Ensure that departmental strategies and related strategic plans are developed and implemented, which are aligned with the vision and mission of the University.
- Cascade Internal Audit strategic objectives and key performance indicators into operational plans and monitor their implementation ensuring the delivery of high-quality internal audit service to the university.
- Ensure the execution of a comprehensive business diagnostic review of all functions & processes of the University covering analysis of departmental policies and procedures, capacity utilization of human and financial resources, and report findings to the president and Internal Audit Committee whilst recommending areas of improvement to ensure adherence to defined quality standards / legislative requirements, facilitating the achievement of business strategies and organizational objectives.
Other duties:
- Carry out all other duties as reasonably directed by the President that are commensurate with these functional objectives.
Academic Qualification:
- A Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
- A postgraduate degree will be preferred.
Professional Experience:
Essential
- A minimum of 8 to 10 years of experience in internal auditing, risk management, or related fields is required preferably in a higher education or large multinational company.
- 5 years’ experience in Senior managerial or leadership roles.
- Strong knowledge of internal auditing standards, principles, and practices is essential.
- Excellent analytical, communication, and interpersonal skills are also important for effectively leading an internal audit team.
- Familiarity with relevant regulatory requirements, compliance standards, and industry best practices is necessary for ensuring the organization’s adherence to internal controls and procedures.
- The Head of Internal Audit should have strong leadership skills, the ability to effectively manage a team, and the capacity to influence and collaborate with internal and external stakeholders.
Preferred
- Certification as a Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or Certified Information Systems Auditor (CISA).
