The role of internal audit is to provide independent assurance that an organization’s governance and internal control processes are operating effectively. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of control and governance processes.

Internal Stakeholders: Internal Audit team, IILM employees, Management team, BAC Members, Board Members.

External Stakeholder: External Auditors, Consultants and other related external parties.

Internal Auditor

• Perform and control the full audit cycle over operations’ effectiveness and compliance with all applicable directives and regulations.
• Assist the Head of Internal Audit to determine internal audit scope and develop annual audit plan.
• Assist the Head of Internal Audit to develop an IILM internal audit framework and periodically review it to ensure a structured approach to conducting internal audits, ensuring that auditing activities are systematic, disciplined, and aligned with the organization’s goals, policies, and regulatory requirements.
• Consider the scope of work of the external auditors, as appropriate, for the purpose of providing optimal audit coverage to IILM at a reasonable overall cost.
• Review the adequacy of controls established and value-added insights and recommendations to ensure compliance with policies, plans, procedures, guidelines, and business objectives.
• Review and provide feedback on policies, procedures, guidelines and / or manuals as and when requested.
• Assess whether IILM’s policies, procedures and manuals in relation to the operations and risk management activities of IILM are adequate and complied with.
• Assess whether the IILM’s resources and assets are properly accounted for and safeguarded.
• Implement a risk-based internal audit framework and to conduct periodic review to ensure the continued effectiveness and efficiency of internal audit function and processes.
• Assess the reliability and security of financial and management information, and the internal or external systems and operations which produce this information.
• Provide consulting and advisory services related to governance, risk management, and control as appropriate for IILM.
• Assess the reliability and security of financial and management information, and the internal or external systems and operations which produce this information.
• Provide consulting and advisory services related to governance, risk management, and control as appropriate for IILM.
• Perform benchmarking exercises on key risk themes and share best practices to enhance the organization’s control environment.
• Report periodically to the Board Audit Committee on the Internal Audit activity’s purpose, authority, responsibility, and performance relative to its plan.
• Follow up recommendations to make sure that effective remedial action is taken.
• Assess the optimal use of corporate resources taking into account cost, efficiency and effectiveness.
• Maintain record on audit assignments workpapers and observations.
• Assist the Head of Internal Audit to report quarterly on open and/or outstanding audit observations.
• Assist the Head of Internal Audit to report annually on status of all audits observations.
• Carry out ad hoc assignments, investigations, or reviews requested by the Head of Internal Audit, BAC or the CEO.

Secretarial Work For BAC

Assist the Head of Internal Audit with secretarial work related to BAC including but not limited to:

• Preparation and circulation of BAC meeting agenda, meeting documents, presentation slides and related communications
• Drafting of meeting minutes and resolutions
• Incorporation of comments from BAC members on the draft meeting minutes and resolutions
• Prepare circular resolutions as and when necessary.
• Preparation of update by BAC Chairman for GB meeting
• Provide assistance and support for clarifications when required.

The IILM shall appoint an Internal Auditor taking into consideration the following criteria:

Qualifications

• Bachelors’ Degree in Accounting, Finance or relevant degrees
• Professional qualification (ACCA / CIA / CIMA) is an added advantage.
• Minimum 8 years of experience in Internal Audit or relevant field

Competencies

• Leadership
• Auditing Skills
• Treasury and Accounting Knowledge
• Risk Management
• Corporate Governance
• Information & Communication Technology
• Knowledge of International Internal Auditing Standards and Methodologies
• Knowledge on Risk Based Internal Auditing
• Communication and Interpersonal Skills
• Good in Microsoft applications
• Excellent written and verbal communication skills in English and Bahasa Malaysia
• Strong analytical skills
• Strong organisational skills, self-starter with the ability to work under pressure.
• Familiar with relevant rules and regulations

The AVP / VP, Internal Audit reports to the SVP, Internal Audit.