Audit Officer

Audit Functions:

Documents, evaluates and tests systems and controls to determine adequacy and effectiveness, ensuring

o   compliance with policies,

o   accomplishment of management's objectives

o   reliability and integrity of information

o   economical use of resources

o   safeguarding of assets

If assigned in a model validation project –

o  Participates or supports the creation, maintenance and execution of validation procedures.

o  Develops initial validation templates or reviews team's developed model validation templates and

executes preliminary quantitative validation techniques

o  Analyzes model related risks such as input data, assumption, concept, methodology, process, and

implementation

o  Reviews model documents, conducts initial test runs on model code or model quantitative approach

o  Supervises model validation procedures such as model simulation, model output recalculation,

logical/statistical testing

Prepares working papers to support audit procedures conducted and issues noted, for review by the Audit Manager/ Audit Division Head. Documents all observations regarding operations and transactions audited, highlighting weaknesses or discrepancies.

Ensures completeness of working papers that documents the audit procedures done and supports individual findings and recommendations.

Ensures that assignments are conducted in accordance with the IIA Standards and IAG Internal Audit Manual.

Manages the engagement team if assigned as Team Lead.

Supervises and coaches Audit Associates, if assigned as Team Lead.

Reviews audit findings and recommendations of Audit Associates or team members prior submission to Audit

Manager for checking, if assigned as Team Lead

Develops and discusses findings, recommendations and timelines for corrective action with audit clients and monitors the implementation status of agreed recommendations.

Provides initial audit ratings and prepares draft reports (i.e., Executive Summary and Detailed Report) and other engagement-related documents for submission to Audit Manager for review (if assigned).

Encodes unresolved issues in the Issue Track Register or tracking system (if assigned).

Conducts special project (if assigned).