Internal Auditor

BOOMETRIX DEVELOPMENT CORPORATION

Is currently looking for:

INTERNAL AUDITOR

• Accounting/ Finance Department/ Cebu

• Chief Financial Officer

JOB SUMMARY

Your insights will be instrumental in identifying areas for improvement and ensuring compliance with laws, regulations, and company policies.

JOB DUTIES AND RESPONSIBILITIES

Financial Audits:

• Conduct regular and thorough financial audits of various departments.
• Analyze and assess financial reports and statements.
• Ensure accuracy and compliance with financial regulations and standards.

Operational Auditing:

• Evaluate the efficiency and effectiveness of operational processes.
• Identify areas for improvement and suggest enhancements.
• Monitor compliance with operational policies and procedures.

Risk Management:

• Assess the company’s risk management processes.
• Identify and evaluate financial and operational risks.
• Develop strategies to manage and mitigate identified risks.

Reporting and Documentation:

• Prepare detailed audit reports with findings and recommendations.
• Document audit processes and findings.
• Communicate audit results to management and relevant stakeholders.

Compliance and Regulatory Oversight:

• Ensure adherence to legal and regulatory requirements.
• Stay updated with changes in laws and regulations affecting the industry.
• Advise management on legal and regulatory changes.

Collaboration and Advisory:

• Work closely with various departments to implement audit recommendations.
• Serve as an advisor to improve financial and operational processes.
• Provide training and guidance on best practices in financial management.

INTERACTIONS

• Department Heads
• Managers
• Finance Team

• External Auditors
• Regulatory Agencies

ACCOUNTABILITY AND SUPERVISION

Organizational Scope

Subordinates : None

• Bachelor’s Degree in Accounting, Finance, or related field.

• At least three years of experience in internal auditing, preferably in the construction industry.
• Certifications: Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar certifications are preferred.

 C.  Competencies (Knowledge, Skills and Attitude)

Knowledge:

• Financial and Accounting Principles: Profound understanding of accounting standards, financial reporting, and auditing techniques. Knowledge of cost accounting is especially beneficial in the construction industry.
• Legal and Regulatory Compliance: Awareness of laws and regulations specific to the construction industry, including labor laws, safety regulations, and environmental compliance.
• Risk Management: Knowledge of risk assessment methodologies and the ability to identify potential financial, operational, or compliance risks within construction projects.
• Internal Control Frameworks: Familiarity with standard internal control frameworks and their application in evaluating and improving financial and operational processes.
• Industry-Specific Knowledge: Understanding of the construction industry’s market dynamics, operational processes, project management, and contract management.

Skills:

• Analytical and Critical Thinking: Ability to analyze complex financial data, understand business processes, and identify anomalies or inefficiencies.
• Attention to Detail: Meticulousness in examining financial records and reports to ensure accuracy and compliance.
• Communication and Interpersonal Skills: Strong ability to communicate findings, both in writing and verbally, to a diverse range of stakeholders. This also includes negotiation and conflict resolution skills.
• Problem-Solving: Capable of developing practical solutions to address audit findings and improve business processes.
• Technology Proficiency: Proficiency in using auditing software, accounting systems, and data analysis tools.

Attitude:

• Integrity and Ethics: Commitment to high ethical standards and integrity, ensuring impartiality and confidentiality in auditing processes.
• Proactivity and Initiative: Willingness to take the initiative in identifying areas for improvement and staying updated with industry and regulatory changes.
• Adaptability and Flexibility: Ability to adapt to changing business environments and regulatory landscapes typical in the construction industry.
• Collaborative Mindset: Readiness to work collaboratively with different departments, understanding their challenges, and providing constructive feedback.
• Continuous Learning: Eagerness for ongoing professional development to enhance skills and stay abreast of industry best practices.

1. Audit Cycle Time: Measures the average time taken to complete an audit cycle, from planning to reporting. This KPI helps in assessing the efficiency of the audit process.
2. Number of Audits Completed: Tracks the number of audits completed within a specific timeframe. This indicates productivity and helps ensure that all necessary areas are being audited regularly.
3. Findings Resolution Rate: Monitors the percentage of audit findings that have been resolved or addressed within a specified period. This reflects on how effectively the auditor's recommendations are being implemented.
4. Compliance Rate: Measures the degree to which the company adheres to internal policies and external regulations. This KPI is crucial for an Internal Auditor in identifying areas where compliance is lacking.
5. Recommendation Acceptance Rate: The percentage of the auditor's recommendations that are accepted and implemented by management. This indicates the relevance and quality of the auditor's suggestions.
6. Financial Impact: Quantifies the financial value added or saved through the auditor's findings and recommendations, such as cost savings, recovery of lost revenues, or avoidance of fines.
7. Stakeholder Satisfaction: Assesses the satisfaction level of management and other key stakeholders with the audit process and reports. This can be measured through surveys or feedback mechanisms.
8. Risk Assessment Coverage: Evaluates the extent to which the audit plan covers key risk areas within the organization. This ensures that the audit focus aligns with the company's risk profile.
9. Professional Development: Tracks the auditor’s participation in continuous education and professional development activities to stay current with industry practices and standards.
10. Internal Control Improvement: Measures improvements in internal control systems as a result of audit activities, which can be quantified by reductions in error rates, fraud incidents, or process inefficiencies.