Title: Head of Internal Audit (HIA)
Reports to: Audit Committee (functional), Chief Executive Officer (administrative)
Responsible for: Management of Internal Audit & Internal Auditors
HIA will be responsible for effectively managing the internal audit department in accordance with the Internal Audit Manual of the TDEA and the definition of internal auditing, the code of ethics, best practices and professional standards. HIA will lead and manage the internal audit activity that provide an independent, objective assurance and consulting services designed to add value and improve the organization’s operations. Being representative of audit committee; s/he ensures that internal audit activity collectively possess or obtain the knowledge, skills and other competencies, in order for the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
Head of Internal Audit along with his entire team will work independently and in parallel to other departments of the organization. The Internal Audit department will be independent of all other offices and will report directly to the Audit Committee for functional matters and to CEO for administrative matters.
Head of Internal Audit along with his entire team will be required to comply with the code of ethics and rules of conduct. Also, compliance of internal audit manual is mandatory.
Risk-Based Audit Plan
Reviewing risk-based annual audit plan to set out the priorities and strategy of the internal audit activity and ensuring its proper implementation.
Revision in the annual audit plan and scope of work in cases additional projects are launched during the year.
Communicating the internal audit plan and the related resource requirements (including the impact of resource limitations) to the Audit Committee for approval.
Ensures that audit scope is targeted and specific.
Responsible for revision and updating/ reviewing of detailed audit programs if subsequent further information requires so.
Ensuring that internal audit resources are appropriate (equipment, work force, professional qualifications and skills), sufficient and effectively deployed to achieve the approved plan.
Maintenance and monitoring of the budget for the internal audit activity.
Leadership and Supervision
Develop and maintain an infrastructure of audit methodology process, tools, and communication of audit results and business advisory consultations that are efficient and effective to support a high functioning audit activity.
Evaluating information systems environment, identifying weaknesses, recommending corrective measures and following-up on the action plans.
Demonstrate a willingness, to take the lead on initiatives outside of Internal Audit (which do not jeopardize independence on areas under audit) to become a true business partner and leader to the entire organization.
Ensuring that audit work is carried out in an effective, efficient and timely manner in accordance with professional standards and the manual.
Reviewing the work of internal audit staff and ensuring proper documentation, quality of work papers, proper custody and maintenance of audit work papers and files.
Follow-up on external audit and internal audit recommendations to determine adequacy of corrective actions.
Ensuring compliance of quality control procedures, professional ethics, professional standards and the manual throughout the audit execution.Resolving day-to-day issues which are relevant to internal audit activity and may help to improve internal controls, control environment, policies and procedures, compliance, governance and risk management.
Oversee the administrative tasks necessary for the functioning of the department including:
Assigning and monitoring of performance parameters and critical indicators;
Evaluation of internal audit staff performance.
Oversee the recruitment of staff for the internal audit department.
Performs as secretary of, and maintain unfettered access to, the Audit Committee and supports the committee in fulfillment of its oversight responsibilities, including oversight of financial reporting, operating and risk management controls, compliance, grants and contracts audits, departmental audits, fraud and financial irregularity audits, the internal and external audit processes, special assignments (if any) and the follow-ups on the audits conducted.
Reporting on findings, make recommendations on the systems and procedures being reviewed, evaluate and monitor management response and mitigation plans and implementation.
Reporting quarterly to the Audit Committee on the internal audit department’s conformance with definition, code of ethics and standards of internal auditing.
Reporting periodically to the Audit Committee on whether management’s action plans have been implemented and whether the actions taken have been effective.
Consolidates and finalize reports for presentation to the Audit Committee on quarterly basis and provides the Audit Committee with an opinion on the internal controls of the TDEA, the status and remediation of audit findings.
Build a successful relationship with process owners and higher management to provide value-added consultation to influence and strengthen operational efficiencies and effectiveness.
Actively participate in applicable executive management forums, committees, councils, advising on emerging risk and control issues.
Ensure the design of internal controls keep abreast with new accounting standards, applicable laws, donor regulations or changes to processes from system implementations or business model transformation.
Participating in all entrance and exit meetings relevant to internal audit.
Coordinating with external auditors and ensure that each party is not only aware of other’s work but also well briefed on area of concern.
Determining the need to use the work of an expert for internal audit activity and hiring competent expert with the approval of Audit Committee.
Working with management to ensure a system is in place which ensures that all major risks of TDEA are identified and evaluated for their significance, at least on an annual basis.
Serving as the official contact for reporting fraudulent or other acts identified by employees.
Assisting executive management and operational managers in strengthening internal controls.
Regular advice to managers as to literature (including abstracts thereof) relevant to fraud.
Communicating internal audit findings with recommendations to the concerned departments.
Maintaining respectful and effective communications and relationships with management and staff of areas under review.
Maintaining a continuous and effective working relationship with the Audit Committee, CEO and Senior Management to deal with current and pertinent issues relating to improvement of internal controls, governance and risk management processes within the organization.
To provide the management with early warnings of potential control problems and emerging issues by way of red flags.
Participating in the planning and execution of special investigations, special studies and projects as may be assigned by the Audit Committee.
To perform other duties as assigned by the Audit Committee.
Proficiency and Quality Assurance
Maintaining a quality assurance and improvement program that covers all aspects of the internal audit department.
Enhance her/his knowledge, skills and competencies and encourage his team members for the same through continuing professional development.
Annual review of internal audit manual to ensure that;
It is in conformance with the definition, code of ethics and standards of internal auditing.
Consistent with the organizational strategic plans and fulfills the needs as to value addition and operational improvements.
Presenting the revised internal audit manual before Board of Trustees for approval
Annual review of internal audit charter and present the same before management and board of trustees for approval.
Competencies And Skills
Ability to work under pressure,
Well versed with MS Office, especially in Excel and Word
Working Knowledge of QuickBooks
Ability to work as team member,
Ability to work efficiently & effectively
Qualification: Member of internationally recognized accounting/auditing body of professionals or master degree in relevant field.
Experience: Minimum 8 years’ experience of audit, out of which 2 years at management level of relevance to the organization.
Click on the link below for more information and online application:
The Trust for Democratic Education and Accountability (TDEA) was established in October 2008. It was a spin-off of the Free and Fair Election Network (FAFEN). After having conducted the largest domestic observation of general elections -2008 in Pakistan and influencing the subsequent process of electoral reforms, member organizations that formed FAFEN decided to formalize the network by acquiring legal status as a prerequisite to sustainability of the landmark work. Following exhaustive discussions that spanned more than a year, FAFEN member organizations decided to transform the network into a legal entity. The establishment of TDEA and subsequent process of institutionalization was a step towards sustainability of work initiated in the area of election observation, voter education and electoral reforms advocacy. Subsequently, TDEA was registered under Trust Act 1882.
TDEA developed a defined governance structure keeping in view the statutory requirements and dynamism of the network that drew its strength from participatory decision-making, inclusiveness and collective action. While Trust can take any measures to achieve its objectives, The Trust Deed empowers TDEA to execute its programs through FAFEN in advancement of its objectives and to ensure a maximum outreach to its beneficiaries — general pubic of all ages, gender, race, ethnicity, creed and religions in Pakistan and Azad Jammu and Kashmir. TDEA is governed under its Compendium of Policies and Procedures, which define governance and processes for the day-to-day management of its functions. As a forward-looking organization, the Trust organizes itself to maximize efficiency, output, internal accountability and transparency.