Director: Internal Audit (post level 5) (contract appointment: five years with the possibility of reappointment for a further term) at University of the Free State

Duties and responsibilities

• Directing the internal audit function to include the implementation of the annual work plan. Ensuring that an appropriate balance is maintained between audit, investigative and other accountability activities. Reviewing actions taken by the University to improve major programme performance, meet programme standards and ensure performance data is maintained properly.
• Reporting (verbally and in writing) routinely to the Audit, Risk and IT governance committee of the Council on matters that include significant risk exposure, control issues, fraud risks, governance issues and other matters requested by the Vice-Chancellor and Principal and the Audit, Risk and IT governance committee of the Council.
• Notifying the chair of the Audit, Risk and IT governance committee and the Vice-Chancellor and Principal, as appropriate, of any unresolved restriction or barrier imposed by any individual on the scope of an inquiry or the failure to provide access to the necessary information or people for the purposes of such inquiry.
• Developing annual audit plans based on periodic risk assessments and overseeing activities to accomplish the audit plan. Reviewing and evaluating internal controls and University rules relating to the programmes and operations to ensure fiscal accountability and compliance with appropriate regulations.
• Initiating, conducting, supervising and coordinating investigations designed to detect, deter, prevent and eradicate fraud, waste, mismanagement, misconduct and other abuses. Utilising existing internal processes by referring complaints to designated offices for investigation, where appropriate. Advising on the development of performance measures and standards and assessing the reliability and validity of such information.
• Directing the University's follow-up programme of internal audit recommendations. Monitoring the disposition of results communicated to the University management and determining whether corrective actions have been effectively implemented. Communicating to senior management or the Audit, Risk and IT governance committee the risks of not taking corrective actions.
• Developing and maintaining a quality assurance and improvement programme in accordance with the Global Internal Audit Standards.
• Initiating, conducting, supervising or coordinating investigations that are within the purview of Internal Audit. Reviewing statutory whistle-blower information and coordinating all University activities as required. Managing the Whistle-blowers Hotline of the University.
• Performing related duties as assigned by the Vice-Chancellor and Principal in consultation with the chair of the Audit, Risk and IT governance committee.
• Collaborating with other assurance providers such as external auditors.
• Facilitating the periodic review and approval of the Internal Audit Charter.
• Obtaining an understanding of the key risk areas, etc. from senior management.

Inherent Job Requirements

• Honours degree (NQF Level 8) in Internal Auditing or Accounting or in a finance-related field.
• Qualified Chartered Accountant (CA) or an active Certified Internal Auditor (CIA) designation.
• A minimum of eight (8) years’ relevant working experience relating to most of the duties and responsibilities, of which at least three (3) years should be in a managerial capacity.

Recommendations

• ​​​​​​​​​​​​​​Experience in performing and managing special/forensic investigations.
• Knowledge of HighBond, ACL and PeopleSoft.
• Certification in the following would be an added advantage: CFE, FP (SA), CISA.
• Knowledge of accounting principles and practices, internal audit standards (new Global Internal Audit Standards) and techniques required for performing audits and special investigations.
• Knowledge of auditing procedures, practices, theory and application of internal controls.
• Knowledge of present-day information systems and networks.
• Ability to prepare audit reports.
• Knowledge of continuous audit methodologies.