Responsibilities

• Develop a disciplined and systematic approach to evaluate and improve the effectiveness of the Company's audit function, risk management, control, compliance and governance processes.
• Develop and maintain a Risk Based System strategically focused on efficient audit methodology and practice.
• Evaluate and establish internal audit policies and procedures to ensure audit activities are consistent throughout the Company.
• Lead and direct the Internal Audit function to protect organizational value and reputation through provision of risk-based, objective and reliable assurance, advice and insight.
• In coordination with external firms and auditors, develop and execute audit plans to provide independent assessment to the GRA Committee, external auditors, and management on the assurance, internal controls, and effectiveness of governance, risk management, compliance for the Company.
• Develop a flexible risk-based internal audit plan with a set of identified audit priorities and implement the audit plans to provide objective assurance and advice to the management and GRA Committee.
• Ensure effective management of the financial resources through an adequate and effective internal audit of all services of the company and any associated bodies in compliance with laid down financial procedures, council decisions and regulations.
• Review and appraise the soundness, adequacy and application of accounting, financial, technical and operational controls.
• Review all activities as required by coordinating, directing, planning and scheduling audit functions to ensure adequacy and compliance of control, asset safeguarding and integrity.
• Supervise, external audit and direct all audit staff.
• Establish Internal Audit policies and procedures to guide the implementation to the Internal Audit strategy and plans while ensuring compliance with Internal Auditing Standards and organizational objectives; ensure sound internal auditing principles and best practices, particularly with the guidance provided by the Standards issued by the Institute of Internal Auditors (IIA) and other bodies like Information System Audit & Control Association (ISACA).
• Issue periodic reports to the CEO and the Audit Committee or Board, summarizing results of the audit.
• Raise awareness of the Internal Audit function to establish value-driven alliances within the Company.
• Initiate and support continuous improvement programs to satisfy shareholders and improve operational efficiency.
• Maintain a professional audit to meet the future requirements of the Audit Charter.
• Support external and government auditors and maintain an optimal working relationship with them that avoids overlaps in audit approach; build and maintain working relationships with Audit professionals/associations, professional committees and working groups to keep abreast of industry standards, and build knowledge/professional competence.

Other Responsibilities

Risk Management -- Key Responsibilities

• Assess the risk management and internal control systems are operational as intended.
• Review the completeness of management's risk analysis and actions taken to remedy issues raised by risk management processes and suggest improvements.
• Evaluate risk exposures relating to the organization's governance, operations and information systems.
• Communicate with senior management and Board on risk-related issues that may indicate weakness in risk management practices.
• Facilitate review of strategic and business risk issues and assess risk governance framework.