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Position:         Internal Auditor

Division:         Operations

Reports:         Managing Director.

Internal Auditor Job Responsibilities

The System Auditor would be responsible for Prevention/reduction of fraud to the barest minimum possible.

Internal Auditor Duties include:

• To ensure good management of scarce resources
• To ensure sound risks management
• To ensure that all accounts books are prepared in accordance with accounting principles and standards
• To ensure sound and efficient control systems.
• Liaising with the Audit Committee on internal/systems audits.
• Serves as a watchdog
• Identification of loopholes in the system and reporting remedial actions to the Managing Director
• Reports likely risks inherent in such weaknesses to the systems
• Reports lose of all kinds to the management
• Makes recommendations to the management on breach of procedures to forestall reoccurrence.
• Fully responsible and answerable to the Managing Director.
• Periodic checking of the Trial Balance, Balance sheet &  Profit & Loss Accounts to ascertain accuracies
• Periodic checking of aged debtors analyses report with debtors control accounts to ensure they reconciled
• Periodic checking of aged creditors analyses report with creditors control accounts to ensure they reconciled
• Cross-checking to ensure that sales (Customers) invoices in General Ledgers reconciled with products invoices postings in sales department always
• Cross-checking and ensuring that all purchases are duly posted into the appropriate accounts by Accounts dept, Bin cards by store personnel and Sales Accountant in sales department respectively
• Cross-checking and ensuring that all assets are properly entered into the assets register by carrying out physical identifications of all assets with computer printouts periodically; monthly reconciliation of assets.
• Periodic checking of the prepayment and accrual  schedules in the General Ledgers
• Quarterly and Year-end stock takings with the store personnel
• Checks periodically all the postings in the General Ledges to ensure accuracy in postings and proper classifications in view of accounting principles
• Verification of credit sales and  all purchases with material value in the General Ledgers regularly
• Carrying out regular checking on Customers’ accounts, Suppliers accounts and staff accounts etc
• Stock purchases reconciliations b/w General Ledger, Stock Cards and computer printouts from Sales department monthly
• Assists in handling some accounting jobs when the need arises.
• Works hand-in-hand with the external auditors during the annual audit of financial year-end.
• Works with the Audit Committee on systems audit issues when the need arises
• It is the responsibilities and obligations of systems audit to make sure, all the members of staff comply with company policies/procedures by:
• Ensuring that there is total compliance in keeping track records of movements of goods in and out of the company by the store officials
• Ensuring adequate reconciliations of physical stock with bin cards and computer postings
• Ensuring that transfers of goods to and from branches are adequately authorized and properly documented
• Cross-checking vehicles loading capacities and ensures they are not overloaded
• Ensuring that all Sales order for Productions (SOPs) are duly authorized and approved by the management.
• Monitoring the use of stock materials in view of all approved SOPs
• Reports any misuse of stocks materials, company tools and equipment etc. to the management.
• Ensuring that company assets are kept in good order
• Ensuring that all personnel and property documents are properly kept especially in Administration/HR dept., Accounts dept. or Sales dept.
• Checking to ensure that all purchases orders obtained the required authorization and approval in line with company policies/procedures
• Checking as to ensure that all physical cash in the safe falls within the insurance cover
• Checking the cheque books, authorizations, signature mandates & cash withdrawals from banks etc. are guided by the company’s procedures/policies.
• Carries out internal audits to identify any weaknesses or loopholes in the systems and make reports as well as recommend corrective measures to the management
• Monitoring all credit sales to ensure compliance with company’s policies on credit facilities
• Monitoring staff indebtedness to the company to ascertain compliance in repayments.
• Monitoring cash advances to staff and makes calls for their retirements
• Any other duties assigned.

Key Relationships of an Internal Auditor

• Managing Director
• Finance Director
• ED (Sales/Marketing
• QA/QC Manager
• Technical Manager
• Maintenance Manager
• All Departments.

Key Job Measures:

Responsible for the Prevention/reduction of fraud to the barest minimum possible in the company

Required Skills of an Internal Auditor

• Attention to detail.
• Problem-solving.
• Ability to work autonomously.
• Analytical and critical thinking Skills
• Communication skills.
• Data mining and analytics.
• Leadership skill

Salary of an Internal Auditor

This varies across various organizations but usually between $ 1500 – $2500 excluding other health insurance policy for the Staff, spouse and four children, Non-Accidental bonus and other benefits.

Educational Requirements

• First Degree in Accounting or any related Social Science Courses (HND, B. Sc).
• Minimum of 5 years of relevant experience on the job
• Necessary certificates and professional qualifications and master Degrees shall be added advantage

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Internal Auditor Job Description, Job Descriptions In Nigeria