Internal Audit Officer

Please note that this posting is meant for talent pooling. You may send your application here and we will be in touch with you once we have an opening for the role.

The Internal Audit Officer assists the Audit Manager in developing and implementing the annual audit plan. This position manages the audit projects, ensuring that these are executed according to plan and conducted in accordance with the standards and requirements set by the Corporate Audit Division and by the audit profession.  He also performs process reviews, compliance, operational and financial audits that are difficult or complex in nature.  He monitors the performance of his team and assists the Audit Manager in their professional development.

Project Management and Monitoring

1. Schedule and assign audit projects in accordance with the approved audit plan.

2. Direct the implementation of the audit phases and review the work done by the team members to ensure full execution of the approved audit program in accordance with the audit standards and guidelines.

3. Monitor productivity/ efficiency of the audit team and accomplishment of the audit plan, including the budget and project delivery timelines.

4. Report periodically or on agreed intervals to the Audit Manager the progress of assigned projects.

5. Discuss with Audit Manager, changes in the budget, timelines and staff requirements of the assigned projects and reasons for the changes and their effect on the approved audit plan.  Recommend appropriate adjustments in the plan.

Audit Planning

1. Assist the Audit Manager in the preparation and implementation of the annual audit plan of the assigned group.

2. Prepare the comprehensive engagement plan, which includes the objectives, scope, timing of the audit and resources required, based on the understanding of the function and key processes.

3. Conduct conferences with line personnel and Department/Division Head to discuss the audit project details and engage the latter's involvement in the audit.

Audit Strategy and Risk Assessment

1. Understand and document in detail the identified key processes.  Identify initial risks and controls of the function audited.

2. Perform walkthrough of the key controls.

3. Assess inherent and control risks and their impact and likelihood.

4. Determine testing strategy and procedures responsive to the risks and controls identified.  Prepare the audit program to serve as guide in the conduct of the audit.

5. Assess current risk management policy of audit client and recommend appropriate risk responses.

Audit Execution

1. Perform test procedures in the audit program guide.  Perform critical audit procedures that cannot be delegated to staff auditor.  Document tests done and results using the required working paper templates.
2. Analyze data and test results.  Identify and evaluate critical exceptions and their root causes and major changes noted while the audit is in progress.  Discuss these with the Audit Manager for any needed revisions in the audit procedures, change in scope or for immediate action by the audit client.

Audit Results Communication and Follow-through

1. Prepare the audit report outlining the objectives, scope, conclusion, findings, recommendations and action plans.

2. Develop value adding recommendations to management which may bring about organization savings and/or improve efficiency of the assigned audit area.

3. Conduct audit conferences with Department/ Division Heads to discuss the audit report and recommendations and agree on the most effective resolution to address identified audit issues, including timetables and responsibilities for their implementation.  Document results of audit discussion.

4. Disseminate report and/or elevate issues to the appropriate level of management considering the sensitivity and confidentiality of the report.

5. Provide oral and written reports to the Audit Manager, Audit Head and audit client Management, as necessary.  Gives updates on on-going audit assignments.

6. Archive audit report and working papers.

7. Follow-up and validate implementation of action plans committed by the audit client as it falls due.

8. Recommend and carry out additional audit procedures necessary to complete the follow-through.

Fraud Risk Analysis and Fraud Investigations

1. Identify indicators of fraud and other possible fraud risk areas in the course of the audit and discuss these with Audit Manager for the possible actions to be taken.
2. Conduct fraud investigations, under the direction of the Audit Manager.  Determine the extent of fraud, scheme and accountable personnel.
3. Identify root cause of fraud and breakdown of controls and provide recommendations for their remediation.

Personnel Development

1. Evaluate and discuss performance of audit staff based on assigned KRAs and using the established KPIs, with the concurrence of the Audit Manager.

2. Determine and discuss audit staff's strengths and areas for improvement.  Coach audit staff on how to more effectively perform audits and improve competencies.  Provide on-the-job training to audit staff.

3. Identify and recommend training and development needs of subordinates.

Consulting Engagements and Special Projects

1. Provide various consulting services to audit client on systems development, policies and procedures review and other special projects.

2. Provide insights and recommendations on audit methodologies and procedures for application to the Corporate Audit Division.

3. Participate in systems development of company projects.

4. Conduct trainings and orientations on controls, processes and other audit-related topics as requested by the audit client.

5. Perform other functions that may be assigned or requested from time to time.

JOB QUALIFICATIONS

• Must be a Certified Public Accountant (CPA license is required)
• Must have at least 3 years of experience in internal or external auditing.
• Willing to be assigned in Ortigas, Pasig City (hybrid working set-up)