Internal Audit Manager

Our client is one of the largest real estate development and services companies listed in the Dubai Financial Market. It is primarily engaged in developing and selling residential and commercial properties. Over the years, it has expanded its portfolio, focusing on real estate development and services across various segments of the market.

Key Responsibilities:

1. Audit Planning/Design: Assist in planning the scope of audit and determine the auditing procedures to be used in various assignments. Develop risk-based audit programs and testing procedures to assess the adequacy and effectiveness of internal controls. In line with the plan, develop a Control Self-Assessment (CSA) form based on focused interviews from the process owners, knowledge and information obtained during previous assignments, and review of available policies, procedures, and practices.
2. Conducting Audits & Tests: Perform audits to identify weaknesses in the effectiveness of controls and key processes of the unit(s), operational/regulatory deficiencies, and provide appropriate recommendations for improvement to minimize risk and safeguard the assets of the company. Interview appropriate personnel, accumulate, verify and analyze available data, observe actual practices, and evaluate functional operational techniques to identify existing or potential problem areas. Assemble and maintain comprehensive internal auditing work papers supporting audit findings and recommendations, as prescribed by Internal Audit Department Manual. Select controls for testing considering the materiality of transactions for each business process, susceptibility to errors or frauds, accounting and reporting complexities associated with the transactions, and significant changes in the processes (i.e., system implementation/upgrade). Identify deficiencies in controls and assess the likelihood and magnitude of potential loss resulting from the deficiency. Identify compensating controls and determine the effectiveness and efficiency of such controls.
3. Reporting: Compile all final audit findings and recommendations for corrective actions into an audit report. Document observations, findings, and recommendations from the internal control testing to be reported to Management. Follow up with respective entities/departments/functions for management comments and implementation of audit recommendations within an agreed timeline. Identify possible risks and present process improvement opportunities. Follow up and monitor whether the evaluation of controls is properly implemented by Management and escalate whenever required.
4. Fraud Investigations / Special Assignments: Assist in gathering evidence and connect individuals to specific events to develop an audit plan for fully investigating the department/function. Assist in conducting interviews with process owners, department heads, and employees to assess the extent of fraud in the relevant department/function. Upon completion of the investigation, submit a written report of findings for review and disposition based on the findings and recommendations regarding the case.
5. General: Contribute to the enhancement of internal audit methodologies, processes, tools, and practices by staying informed about emerging trends, regulations, and best practices in internal auditing. Perform additional tasks as assigned by the management. These tasks may not be explicitly stated in this job description but are essential to the overall success of the department and company.

Qualifications:

1. Preferably Master's Degree in Business, Finance, Accounting, or another related field.
2. Bachelor's degree in Business, Marketing, Real Estate, or a related field.
3. Professional qualifications like CIA, CCSA, CISA, ACPA, ACCA/CPA, and CRMA.

Experience:

1. 10-15 years of progressive experience in Internal Audit, including at least 5 years in a managerial role.
2. Solid experience and understanding of internal control concepts and frameworks (e.g., COSO) and their application in diverse business environments.
3. Proven experience in developing audit programs and executing audit procedures in compliance with professional standards.