Corporate Audit

Job Description

Job Purpose:

⮚ Assist Manager in developing and executing the Annual audit plan, and take a lead role  in the day to day execution of internal audits 

⮚ Contribute to the Internal Audit (IA) function by identifying risks associated with  business objectives and evaluating the controls in place to mitigate those risks in order  to improve the effectiveness of risk management, control, and governance processes 

⮚ Ensuring completion of Audit plan as per schedule for empanelled external auditors and providing guidance and support to them in execution of Audits 

⮚ Provide value-added advice and support to business partners on the creation or  modification of policies, procedures, processes, products or services to ensure an  appropriate level of internal control and compliance is maintained.

Business  Responsibility  Areas

❖ Planning  

✔ Engaging with the Auditee for finalization of dates of Audit  engagement and Assisting the Manager in the collecting  information and documents relevant to be used for preparation of Audit Planning Memorandum (APM)  

✔ Identifying transactional discrepancies/inconsistencies in data  extracted form ERP/MIS through Auditing Tools, Exception  Reports or Manual Analysis  

✔ Participate in opening meetings with Auditee to explain the  scope and objectives of the audit engagement to Auditee and  provide an overview of all steps in the audit process

✔ Develop a thorough understanding of business processes in  scope for assigned audits and document the processes in  flowcharts and/or process narratives. Identify and document  inherent risks and controls within the business processes  

❖ Fieldwork  

✔ Develop a risk based test plan by selecting appropriate audit  approach, test procedures and sampling criteria based on  professional judgment and departmentally defined internal  audit methodology  

✔ Evaluate the adequacy of process design and the effectiveness  of controls in meeting business and control objectives. Identify  and document control and process weaknesses and provide  evidential support for findings  

✔ Propose practical and value added recommendations to  address control weaknesses and/or process inefficiencies 

 ✔ Organize and reference work papers for review by Manager,  Internal Audit  

✔ Participate in closing meetings with Auditee at the end of  fieldwork, providing clear explanations for identified issues  

❖ Reporting  

✔ Assist in the preparation of a concise and informative audit  report to effectively communicate the findings and  recommendations to the auditee and senior management.

✔ Assist in preparation of Presentation on Major Observation to  Auditee Hierarchy/Audit Committee  

❖ Other Responsibilities  

✔ Pursuing for closure of open audit issues  

✔ Supports the Manager, Internal Audit in the development and  implementation of the evolving IA methodology  

✔ Provide consultative support to unit with regard to the  adequate design and execution of risk management processes

Qualifications

Education: B.Com / BAF

Functional  Competencies

∙ Critical Thinking 

∙ Business Acumen 

∙ Analytical Skills 

∙ SAP ERP and MS Office 

∙ Report Writing

Behavioral  Competencies

∙ Confidentiality  

∙ Objectivity 

∙ Communication 

∙ Judgment 

∙ Positive outlook

Additional  Requirements 

∙ Should be open for travelling

Additional Information

PwD (with ability to work independently without tool support)

Location: Mumbai (Vakola)

Scope of Work:

a) Financial Scope  (Range of financial  spend):

∙ Based on APM, GL Trend, exceptions 

∙ Same applies when handling external auditors

b) People  Management Scope  (Range of no. of Direct/  Indirect Reports):

∙ Maintain cordial relationship within and outside the function

c) Geography  Coverage (Country wide/ State-wide /  Area-wide)

∙ Audit of Group  companies including Subsidiaries (Indian and international) and Joint ventures.

d) Corporate  Coverage (Company wide / Business Unit  or Function-wide /  Sub-function-wide /  Other):

∙ All Functions in the company and Group Companies

Key Interactions

Internal

∙ With Various Functions across hierarchy such as Plants, Branches, Sales, marketing, Supply Chain, Finance, Legal, Taxation, SSC ,IT, IBU

External

∙ External Consultants 

∙ External Auditors 

∙ Other Vendors