Chief Internal Auditor

ACCOUNTABILITY OBJECTIVE

Responsible and accountable for the effective conduct of the internal audit programme of the Guyana Oil Company Limited, and for providing independent analysis and appraisals of the financial and operational components of GuyOil. 

DIMENSIONS OF POSITION

The Chief Internal Auditor is responsible for overseeing the execution of audit assignments of GuyOil in accordance with the relevant legislation; the Rules, Policies and Procedures and general audit approach consisting of approved audit standards, actions and objectives, and consistent with International Audit Standards. 

In this regard, the Incumbent is responsible for: 

• Ensuring compliance with established accounting principles and procedures. 
• Verifying that the performance of core operations render value for money. 
• Ensuring that proper controls are effected by the institution of a comprehensive audit programme.
• Evaluating the adequacy of the audit work performed by reviewing the audit check list.
• Ensuring that the audit is complete in every way and, whenever necessary, by personal review of work plans, working papers, including flow-charts, internal control questionnaires, audit programmes and memoranda relating to the assignment, and that working papers and related documents support the findings and conclusions reached in these areas. 
• Confirming that an adequate review of financial statements and the audit thereof have been satisfactorily carried out. 

The Chief Internal Auditor is responsible for defining the audit scope, identifying important auditing and accounting areas based on size, sensitivity or difficulty, and for developing strategies to cope with problem areas. 

The Incumbent is responsible for ascertaining the staffing requirements and the deadlines for completing the various phases of each assignment; and for approving the plan and audit programmes before commencement of the detailed audit procedures. 

The Chief Internal Auditor maintains contact with Senior Managers of GuyOil to understand their operations and to help with early recognition of auditing and accounting problems and on current developments and changes in their operational areas. 

The Incumbent is required to conduct special audits and investigations and report to GuyOil and the Board accordingly. 

The Chief Internal Auditor must determine on an annual basis the “Major Job Objectives” for each aspect of the Work Programme of the Internal Audit Department and identify and discuss with subordinates the “Key Results Areas” to be used as determinants to their performance results on a quarterly basis.

PRINCIPAL ORGANISATIONAL RELATIONSHIPS:

(The Incumbent relates to the following areas/titles internally and externally in carrying out accountability objectives) 

INTERNAL: 

• Board of Directors To present findings/recommendations on both routine audit and special investigation reports; to review completed audit assignments; to discuss the findings of special investigations and investigations into suspected fraud and irregularities; to present working papers and reports; to report on financial and non-financial performance measures, including value for money measures; to review findings/recommendations on both routine audit and special investigation reports; to discuss/review the implementation of programmes and projects and approve operational plans and budgets; to review quality documentation controlling the processes/activities to be audited. 
• General Manager To liaise with in relation to the day-to-day activities of the Department. 
• Assistant Internal Auditor To define scope of the audit, identifying important auditing and accounting areas based on size, sensitivity or difficulty; to ascertain staff requirements and to agree deadlines for completing the various phases of each assignment; to discuss preparation of briefs; to agree the Plan and Audit Programme before implementation of the detailed audit procedures. 
• Internal Audit Staff To provide on-the-job training; to lecture on training programmes; to discuss matters relating to Work Programmes and professional matters; to advise on methodology of investigation and its objective. 
• Human Resources Department To discuss matters related to employees’ duties and responsibilities and conditions of service; to participate periodically in the recruitment and promotion process and in the allocation of resources for the Section; to collaborate on internal reviews on Job and Salary Structures and manning levels of operational Units; to resolve grievances. 
• Finance Department To discuss/review financial and accounting reports for GuyOil; to be advised with respect to financial policies; to confirm compliance with applicable laws and regulations. 

EXTERNAL: 

• Audit Office of Guyana To agree timing phases of the audit assignment; to obtain agreement with respect to completion dates, implementation of Work Plan and audit programmes; to maintain contacts with relevant senior officials to understand their operations and help with early recognition of auditing and accounting problems; to arrange for satisfactory working conditions for Audit Team. 
• Professional Bodies To discuss the resolution of technical and accounting problems; to consult on matters requiring guidance. 

PERSONNEL SUPERVISED BY THIS POSITION INCLUDE:

DIRECTLY

• Assistant Chief Internal Auditor 
• Supervisor, Internal Audit 
• Internal Audit Assistant

PRINCIPAL ACTIVITIES TO ATTAIN ACCOUNTABILITY OBJECTIVES: 

(The following responsibility statements identify specific duties necessary to attain GuyOil’s overall objectives while not precluding the position holder from carrying out other related activities that may be inherent in the position) 

• MONITORS at appropriate intervals all operational areas to ascertain whether they are carrying out the functions of planning, organising, directing and controlling in compliance with approved policies, directives, procedures and in a manner consistent with achieving the targets, goals, and performance standards set by Management of GuyOil. 
• ACTS as an independent evaluator of control functions to assist the management and staff to effectively carry out their functions, and PROVIDES the Board of Directors and the Finance & Audit Committee with timely analyses and recommendations on all matters reviewed. 
• SUPERVISES and participates in the conduct of routine “value for money” audits. 
• KEEPS abreast with the programmes and activities of the Company’s Divisions/Departments/Service Stations/Terminals with new and amended laws and regulations, changes in systems and procedures, new techniques in management and computer applications, and with current trends in accounting and auditing theory and practice. 
• AUDITS capital projects to confirm costs and REVIEWS processes to ensure the conformity with approvals given and standard procedures. 
• CONDUCTS field visits and REPORTS on level of compliance with regulatory procedures and processes. 
• PARTICIPATES, as required, in discussions relating to the introduction, review and amendment of records, systems and procedures; as well as to the organisational performance of financial and non financial performance of Company’s Divisions/Departments/Service Stations/Terminals. 
• ASSESSES and reviews subordinates’ performances in annual and other staff reports, and signing and countersigning such reports; MAINTAINS discipline and SETTLES grievances within Divisions/Departments/Service Stations/Terminals. 
• CONDUCTS on-the-job training; lectures in relevant training programme; and ENSURES that adequate on-the-job training is also carried out. 
• PARTICIPATES in the direction, planning and administration of GuyOil and for discussing and deciding on important matters concerning work programmes and professional matters.
• PARTICIPATES in financial management and administrative aspects of formal programme review and evaluation exercises with respect to cost accounting and reporting, performance reporting and investment management. 
• REVIEWS and EVALUATES the Management Information System to ensure that it is defined and includes the necessary controls. 
• UNDERTAKES or ASSISTS in special investigations and inspections. 
• MAINTAINS appropriate records, including a diary relating to the audits and submission of inspection reports. 
• BRINGS to the attention of the Board of Directors and Finance & Audit Committee of any discrepancies and non-compliance of regulations in any of the Divisions/Departments. 
• VERIFIES or assists in the verification of assets. 
• COLLABORATES with the Audit Office in the conduct of audits or investigations on identified areas of concern.

MANAGEMENT JOB DESCRIPTION EVALUATION: QUALIFICATIONS 

EDUCATION

• Membership of any of the recognized professional accounting bodies: ACCA, IACPA, CGA, CIMA, IIA, CIA plus minimum five (5) years’ post qualification experience in a Senior Accounting environment.

EXPERIENCE/JOB KNOWLEDGE

• Senior Professional and other skilled workers requiring in excess of five years in practice of skills acquired through formal courses of study, on-the-job training and considerable practical experience. Knowledge of a wide range of principles, practices and skills in applying this knowledge to difficult and complex work assignments.

SUPERVISION

• The Manager/Supervisor provides administrative direction for assignments in terms of broadly defined goals and objectives. Directs the operation of subordinate Managers/Professionals and Supervisors. The subordinate has responsibility for planning, designing, and carrying out work independently and enforcing GuyOil’s regulations and National and International rules and procedure related to the Petroleum industry.

RESPONSIBILITY FOR MATERIALS, CASH, ETC

• Responsible and accountable for the effective conduct of the internal audit programme of the Guyana Oil Company Limited, and for providing independent analysis and appraisals of the financial and operational components of GuyOil.

COMPLIANCE

• Requires comprehensive knowledge and application of related Laws, operating policies, rules and technical procedures and ability to interpret same in situations of both a recurring and non-recurring nature; in normal and unique situations to provide technical advice and opinions. Constant analysis of complex, multifaceted, high impact information and data is required to make financial and administrative decisions; as well as to co-ordinate and direct staff activity.

QUALITY OF WORK

• Required to work in full accordance with the mandate, policies, procedures, rules and regulations of GuyOil and consistent with the environmental laws and regulations. Maintains a continuous interchange of information, ideas and opinions by constant oral and written communication with Audit staff so that sound decisions and proper courses of action can be taken and the work performed with a minimum of waste and unproductive effort.

ANALYTICAL SKILL

The Incumbent is responsible for evaluating the adequacy of the audit work performed by reviewing the audit check list, ensuring that the audit is complete in every response and whenever necessary by personal review of working papers, including flow-charts, internal control questionnaires, audit programmes and memoranda relating to the assignment, with the object of satisfying himself/herself that proper and sufficient audit work was performed and that working papers and related documents support the findings and conclusions reached in these areas.

TECHNICAL/PROFESSIONAL

• Extensive knowledge of complex processes, techniques and practices. Work requires knowledge of: planning, monitoring and evaluation methods and technical directives including marketing and research processes. The employee must also use judgement and ingenuity in developing applications to specific areas of work. 
• Organises Audit Teams to conduct routine and special investigations; coordinates examination and analysis of records. Leads the presentation of operational reports.

INTERPERSONAL SKILL

• The interpersonal relationships at this level are with high-ranking officials both within and external to GuyOil in structured or unstructured settings; as well as with clients and staff. Considerable persuasive ability or tact may be required to handle the contacts.

MENTAL AND VISUAL DEMANDS

• Requires constant and intense application and close visual attention for sustained periods to complete large volumes of work or very broad ranges of activities within prescribed time frames.

WORKING ENVIRONMENT

• Generally works indoors and in congenial environment. May be required to work under pressure to meet deadlines in special cases. Visits sites to undertake audit assignments at the Service Stations/Terminals.