Internal Auditor

Job Purpose:

The Internal Auditor will plan and execute internal audit engagements under the direction of the Audit Management team in accordance with professional IIA standards and KAUST’s internal audit methodology to deliver high quality, value-added output with effective follow-up to ensure the timely remediation of control issues.    

Major Accountabilities:

Planning:

• Consider functions and activities for assigned audit engagements to determine the nature of the operations and the key systems in place.
• Prepare for opening meetings with the proponent, explaining the scope and objectives of the engagement, providing an overview of the steps in the audit process and capturing minutes of meetings.
• Draft the suggested Terms of Reference (scope) of each assigned audit for Audit Management review.
• Develop a thorough understanding of (in scope) business processes, documenting these in flowcharts and/or process narratives. 
• Identify, documents and assesses inherent risks and controls.
• Documents key controls to be tested, capturing these in audit programs for Audit Management review.

Delivery:

• Obtain, analyze and appraise evidentiary data for sufficiency to render an informed, objective opinion on the adequacy and effectiveness of the system of controls and the efficiency with which activities reviewed were performed.
• Perform audit tests in accordance with professional IIA standards and the IA methodology, preparing, organizing and referencing work papers for more senior review;
• Use appropriate audit techniques and software applications such as statistical sampling, computer assisted audit technique (CAATs), etc. to employ.
• Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives. Identifies and documents control and process weaknesses, providing evidential support for findings.
• Prepare high quality Audit Observation Worksheets (AOWs) that clearly define the audit issue, the cause and the impact/risk.
• Proposes practical, value added, recommendations to address control weaknesses and/or process inefficiencies.

Feedback, Reporting and Follow-up:

• Deliver or help to deliver oral and written presentations to management at various stages of the audit engagement.
• Conduct closing meetings with the proponent at the end of fieldwork, providing clear explanations for identified issues.
• Prepares concise, informative audit reports, including a results based “opinion” and relevant recommendations to remediate any exceptions reported.
• In conjunction with the Internal Audit Manager, monitor and report the status of open audit observations on an ongoing basis, including evaluating the adequacy of remediation/corrective actions taken prior to formal closure.

Other Responsibilities:

• Develop and maintain effective and professional working relationships with staff within the University.
• Maintain professional proficiency through self-improvement activities and formal training.

Qualifications:

• A Bachelor’s degree (or equivalent) in finance, accounting or a related business field is required. 

• Certification as a Public Accountant (CPA), Chartered Accountant (CA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or equivalent is desirable.

Experience:

• A minimum of four years of progressively responsible professional experience with at least two years in audit. 

Additional Requirements: 

• Working knowledge of the International Standards for the Professional Practice of Internal Auditing and the Code of Ethics developed by the Institute of Internal Auditors.

• Knowledge of auditing principles and procedures, including statistical sampling, CAATs, risk analysis, process narratives and flow charting.