Job Description

Closing Date
2025/11/17


Reference Number
SAS251104-1


Job Title Chief Audit Executive


Job Type Permanent


Division Control Functions


Department Internal Audit


EE Occupational Levels Level 8: Executives


Location - Town / City Johannesburg


Location - Province Gauteng


Location - Country South Africa


Job Advert Summary
The Chief Audit Executive is responsible for providing leadership and strategic direction of the internal audit function. Plans the annual internal audit activities. Leads performance and operational audits, evaluates internal controls, and advises on improvements to the Company's management and Agent Companies, within a context of sound corporate governance principles. Leads and oversees Forensic Investigations. Provides the Board, the Audit Committee, the Chief Executive Officer and Executives with assurance and services relating to audit and forensic matters.



Minimum Requirements

Qualifications

Bachelor's degree
Relevant post graduate qualification
Certification either as a CIA or CA (SA)

Experience

Ten years of full-time experience in auditing and accounting including six of senior management experience.
Experience with reporting to Exco and/or Board Sub-Committees (ideal)



Duties and Responsibilities

Strategic alignment

Directs and develops the strategic plan for the audit function.
Contributes to the Company's strategic plan.
Develops the annual operational and audit plan including the KPIs

.

Provides leadership in the development of the 3 year risk based internal audit plan, discussed with Exco and Management (, and approved by Audit Committee.
Ensures alignment between the internal audit strategy and the overall Company strategy.
Ensure continuous awareness of the Internal Audit function within the organisation.

Financial

Prepare and monitor the internal audit and forensic services budget.
Monitor budget on projects.
Operational Budget discussed with CEO/CFO/Exco, obtain endorsement from the Audit Committee, and final approval by the Board.

Governance and Compliance

Develops and maintains governance process in internal audit. Work involves:



Development of audit charter and/or policies, and procedures/methodologies.
Develop and monitor the implementation of quality measures through continuous quality and period internal and external quality assurance initiatives.
Ensure compliance with PFMA, IIA standards, Prudential Standards and relevant best practice (i.e. King IV Code,).
Prepare the annual written assessment on the system of internal controls and present to the Audit Committee.
Contribute towards the success of the combined assurance.

Directs internal audit actitivies

Identifies and manages internal audit department.
Contribute to the Company's risk identification process.
Oversee and monitor the implementation and execution of the internal audit plan.
Directs audit staff in the implementation work of the comprehensive audit plan which includes: + Internal control evaluation
+ Performance and operational reviews;
+ Agent company compliance and performance reviews
+ Project assurance reviews
+ Ad hoc including advisory engagements
Oversee and monitor internal audit operations.

Directs the Forensic Investigation Functions

Ensure the development and review of forensic investigation policies, procedures and manuals.
Oversee the forensic investigation plans, strategies to ensure effective risk management.
Review the effectiveness of fraud prevention and detection plans.
Oversee the forensic investigations and ensure that factual findings are correct and recommendations are sound.
Ensure training and support to the business through training and awareness on Fraud detection and prevention.

Stakeholder Management

Communicates the results of audit and advisory projects via written reports and oral presentations to management and audit committee (the board of directors where necessary).
Communicates the extent to which management have implemented the previously corrective actions (follow-up reviews) and results of such assessments.
Develops and maintain strong relationship with the Audit Committee, Management and clients.
Ensure on-going engagement with external audit to agree and coordinate reliance that can be placed on the work of internal audit.

People Management

Determine the optimal structure of the function, including considerations of co-sourcing
Manage structure and focus the work of the internal audit team.
Directs audit staff in the planning, organising, directing and monitoring of internal audit operations.
Ensure that working environment contributes to improving staff morale and increased productivity.

People development and Performance Management

Ensure that annual performance objectives are set and understood by team members.
Development areas identified and career development plans in place for team members.

We are committed to Employment Equity when recruiting internally and externally. It is company policy to promote from within wherever possible. Therefore, please be aware that internal candidates will be considered first before reviewing external applicants, provided that this supports achievement of our Employment Equity goals.