Purpose of Job
The job holder is responsible for managing the Financial Audit function including audit planning, audit intervention, and reporting to assess compliance of concerned functions with relevant policies, processes, procedures, and guidelines in an independent manner.
Job Responsibilities
Strategy and Planning
• Contribute to the development of the Financial & Administrative Audit business plan ensuring alignment with ZATCA strategy
• Develop the operational plan for Financial Audit in line with the Financial & Administrative Audit business plan and Internal Audit strategic plan
• Implement plans and provide input to enable the achievement of Financial Audit goals that support ZATCA's overall strategic plans
Budget Management
• Discuss Financial Audit budgeting requirements with top management and provide input to the budgeting process
• Ensure effective utilization of the Financial Audit budget, and report accurately on progress made and challenges encountered
• Investigate and propose implementing initiatives that result in a positive financial impact for Financial Audit and mitigate financial and operational risks
Audit Planning
• Manage the development of financial internal audit guidelines, methodologies, and related templates ensuring alignment with internal audit QA guidelines, and international standards and practices
• Recommend the need to cooperate and liaise with external financial auditors to execute specific audits
• Manage the development of the financial internal annual audit plan specifying functions subject to audits, audit frequency and schedule taking into consideration resources availability and targeting key risks and prioritized activities/areas
• Provide input to the developed financial audit program/RCM including audit scope, key areas to be assessed, audit dates and focal points and ensure related functions are notified
Audit Execution
• Ensure that financial audit objectives, scope and methodology are confirmed with the concerned function's focal point
• Manage financial internal audit interventions ensuring functions' documents (financial statements, accounting entries, budgets, income statements, billing procedures, account balances, investments and others), systems and practices are reviewed, improvements or corrective actions' implementation status are followed-up on, non-conformities are detected, irregularities are investigated and improvement areas are identified
• Ensure that concerned functions have a clear understanding of results and that needed improvements/non-conformities/observations are agreed on
• Facilitate the work of external financial auditors to examine all books and documents related to accounting records, expenses, and revenues
• Manage related special audit assignments requested from the Governor
Audit Reporting
• Review submitted audit reports highlighting audit findings, key points discussed, non-conformities and key areas to improve and provide input and recommendations where required
• Manage consolidation of financial audit findings into a periodic audit report including audit observations, non-conformities, opportunities for improvement and action plans
People Management
• Participate in the identification and recruitment of key talent
• Guide, mentor and support direct reports in order to execute duties according to set policies and processes
• Develop individual performance objectives, provide necessary support, evaluate/appraise team and provide regular feedback on performance
• Establish a high-performance working environment and promote ZATCA values
Education
• Bachelor's degree in Business Administration, Finance, Accounting, or equivalent is required
• Master's degree in Business Administration or equivalent is preferred
• Lead Auditor Certificate
Experience
• A minimum of 6 years of relevant experience and an optimal of 8 years of relevant experience, with a preferred 3 years of experience at the managerial level.
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