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Aga Khan University Jobs Chief Internal Auditor: Chartered in 1983, Aga Khan University (AKU) is a world-renowned progressive organization that is committed to excellence in education, research, and community service. Occupying a central place in the Aga Khan Development Network, AKU provides higher education in nursing, medicine, and education development and carries out research pertinent to the countries in which it serves and the developing world at internationally accepted academic standards.
Chief Internal Auditor
Department Internal Audit
Entity Aga Khan University, Global
Location Karachi, Pakistan
Introduction We are re-initiating the search process in order to invite more applicants.
The Chief Internal Auditor is responsible for leading and managing the Internal Audit function. The Internal Audit Function assists the University in the assessment and improvement of the effectiveness of the internal control framework, risk management and compliance processes.
Internal Audit’s objectivity and independence is maintained by ensuring that it has no responsibility for or authority over any of the activities or operations subject to its review. The Internal Audit function has full, free and unrestricted access to the University’s records, physical properties, personnel, external auditors and other individuals relevant to an area under review.
The Chief Internal Auditor reports functionally directly to the Chairman, Audit Committee of the AKU Board of Trustees, with an administrative reporting line to the President.
The incumbent must be committed to the continual improvement of the audit process itself to make its ever more responsive policies and practices to institutional needs. In this context, The Chief Internal Auditor will have overall responsibility for implementing the recommendations of a recent external review of the function which have been endorsed by the Audit Committee.
The Chief Internal Auditor must demonstrate the highest ethical standards ensure independent fact based operational assessments and lead by example in the quality and clarity of his/her written and oral communications.
This is a senior global position, involving audits and team oversight in at least five countries requiring frequent travel, the ability to work virtually and to adapt to the business, cultural, legal and compliance requirements of different jurisdictions.
Responsibilities The Chief Internal Auditor is responsible for ensuring that the Internal Audit function employs a risk-based systematic and disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes by assessing the
- Alignment of organisational objectives with the University’s mission;
- Identification, evaluation and management of business risks;
- Soundness, adequacy and application of the internal control systems;
- Reliability and integrity of financial and operational information;
- Effectiveness and efficiency of operations;
- Safeguarding of assets from fraud, irregularity or corruption, and
- Compliance with laws, regulations, contracts and established policies, procedures and good practice
The Chief Internal Auditor is responsible for leading and ensuring that the Internal Audit function
- Agrees a long term audit strategy with the Audit Committee, based upon an audit needs assessment of all University activities;
- Agrees a risk-based annual audit plan with the Audit Committee and syndicates the agreed plan with senior management as appropriate;
- Carries out the agreed work in line with appropriate international professional standards;
- Provides assurances, opinions and makes recommendations to improve processes and systems where appropriate contained in reports issued to management;
- Follows up recommendations made to evaluate action taken;
- Reports to the Audit Committee the President and the Internal Audit Review Committee any significant business risks, serious control weaknesses, significant fraud or other major control breakdown;
- Reports to the Audit Committee for resolution, any specific cases where Internal Audit believe senior management may have accepted a level of residual risk that may be unacceptable to the University;
- Complies with requests for information from the Board of Trustees, President, Audit Committee, External Audit or relevant external regulatory bodies;
- Liaises with External Auditors;
- Maintains communication with senior figures in the University and outside bodies;
- Offers consulting services of an advisory nature without assuming management responsibility or jeopardizing achievement of the audit plan;
- Develops and maintains a quality assurance and improvement programme including internal and external assessments and provides performance measures to demonstrate effectiveness of the Internal Audit service;
- Maintains adequate & appropriate training and professional development;
- Helps to keep the Audit Committee informed of perceived best practice.
- Prepares regular reports for the Internal Audit Review Committee (IARC) and the Audit Committee (AC) of the Board summarizing audit reports issued and track the implementation of recommendations made in audit reports as well as decisions taken at both IARC and AC.
- Undertakes special assignments, including forensic reviews, as requested by management, the Internal Audit Review Committee or the Audit Committee.
- Internal Audit may conduct any special reviews or consulting activities requested by the Board of Trustees, the Audit Committee, the President, provided such work does not compromise its objectivity or independence
The Chief Internal Auditor Will Be Responsible For
- Presenting for approval by the Audit Committee in consultation with the President and the Executive and Finance Committee of the Board of Trustees the proposed annual budget for the Internal Audit Function
- Managing the activities of the Internal Audit Function in accordance with the approved budget and reporting actuals versus budget both in terms of finances and in relation to audit activity against plan
- Ensuring that the Internal Audit function is appropriately staffed at all levels, especially the more senior levels with individuals with relevant qualifications and experience
- Developing succession plans for the senior roles in the Internal Audit Function
- Providing exemplary leadership, professional and technical guidance to the audit staff
- Ensuring that the Internal Audit Function has appropriate formal training and development programs for its staff
- Maintaining a professional atmosphere within the department and creating an environment that fosters high standards, growing skills and competencies, enthusiasm, motivation and commitment among the staff
- FCCA/Chartered Accountant with at least 10 years post qualification experience with a reputable institution – the last five years at a senior level and including some multinational experience
- Demonstrated ability to understand and appreciate the sensitivity and confidentiality of information and exercise utmost integrity, caution and responsibility in handling issues. Adaptability to be able to operate in an academic, not for profit environment as well as engaging with commercial health services and other operations of the University. Demonstrate highest level of leadership, professionalism and commitment.
- Flexibility and cultural sensitivity are key attributes, as well as the ability to identify and protect against persistent threats of corruption and fraud
- Excellent interpersonal, communication and analytical skills.
- Exemplary leadership and people management qualities that encourage team spirit and motivation, enable skill development and prepare staff for broader roles within and beyond audit.
- Astute negotiating ability with senior management and audited groups to ensure acceptance and implementation of recommendations of the Internal Audit function.
- Willing to travel within Pakistan or University offices overseas as warranted by the assignment.
An attractive compensation package will be offered to the selected individual commensurate with qualifications, experience and level of responsibility. AKU offers a comprehensive benefits plan that meet employees’ needs and concerns in areas such as health, financial assistance, professional development and time off. Our main focus is to ensure that the AKU stays competitive and attracts and retains the right talent.
AKU provides medical benefits (both inpatient and outpatient), earned leaves, Provident fund, Gratuity, loans, Employee Life Insurance & Personal Accident Insurance, Sports & Rehabilitation Centre, Early Child Development Centre, Banking Facilities, Utility Store, Cafeterias, Employee Assistance Program etc. Apply