Head of Internal Audit

The Head of Internal Audit is a senior position which reports directly to the Board Audit Committee of ADL and engages frequently with Senior Management of the Company. He/she has an overall responsibility over the Internal Audit (IA) Functions strategy and works in line with the governance, risks and controls standards of the Group and the Company. He / she works with the IA Team & WB Team (as required) to ensure roles, responsibilities, and results are efficiently coordinated and collectively optimize with the use of relevant technologies for Internal Audit (IA) activities and contributes to the effectiveness of risk management, controls, and governance of the company, hence, delivering the ultimate goal of IA i.e., adding value to the Company.

SCOPE & AUTHORITY

• Work with the Board Audit Committee (BAC) of ADL and with Management in fulfilling the BAC duties and responsibilities per the BAC Terms of Reference.
• Drive the development of Internal Audit Department vision, roadmap, and strategies for the IA organization (audit and whistle blow (WB) investigation) keeping in view short-term, long-term point perspectives.
• To provide overall supervision, direction and control for Internal Audit and Whistle blow administration activities and works in the Company and its subsidiaries (if there are subsidiaries), keeping in view the interest of stakeholders.
• To apply a risk-based approach and leverage / drive the use of data analytics, continuous auditing, and AI technologies in the development of audit / WB program and review of audit work / WB work.
• To discuss the findings of audit reviews with management on a constructive basis to develop the most appropriate, proportionate solutions to issues arising.
• Develop and evolve internal auditors and WB investigators capability to meet the business and technology challenges with the guidance from HR and Group Internal Audit.
• Ensure high employee engagement for creating passion for excellence in the areas of auditing / WB investigation, data analytics, continuous auditing and AI technologies to value add.
• The Authority of the Head of Internal Audit and the Internal Audit Department / Division is enshrined in the IA Charter and BAC Terms of Reference.

KEY RESULT AREAS

• Develop the Annual IA Plan for ADL and subsidiaries, per the Audit Universe, which considers the influencing factors explained in the Appendix, and material risk identification. Secure ADL BAC approval for the Annual IA Plan.
• Manage the audit teams of ADL to complete the respective Annual IA Plan & Management / BAC requests focusing on strategic risks and quantification of the Audit Findings.
• Manage staff welfare and develop competencies of IA team members, per IPPF standards and other relevant standards, as well as of WB team members of ADL IA.
• Working with the audit team and business of ADL to convert high risks auditable units into Continuous Auditing (IA Digital) to allow for pre-emptive versus reactive risk management.
• Develops, motivates, and inspires the ADL IA team to continue to remain excellent in work delivery, compliance to standards and IA manual / procedures, and use of technologies in their works.
• Working with the audit team and business of ADL to identify data points across the companies and multiple subsidiaries, which allows the application of Data Analytics Techniques in audit fieldwork.
• Ensure the application of / compliance to the Minimum Baseline Standard (Groupwide) as prescribed in the IA Charter, IA Manual (procedures, rating, report template, sampling approach, International Professional Practice Framework (IPPF) on IA works conducted by the audit team of ADL.
• Provide audit results in the form of measurable outcomes, expressed financially where possible i.e., outcome-based audits.
• Conduct Internal Quality Assurance Review & Improvement Program (iQAR-IP) per IPPF standards for ADL IA.
• Secretariat to ADL Board Audit Committee (BAC) and ensuring the effective and efficient running of BAC Meetings and handling of BAC requests in line with BAC Terms of Reference.
• Effective and efficient engagement with Management, BAC and key stakeholders in all audit plans, audit works, communications / report of audit findings and recommendations at ADL.
• Administer any Whistle Blowing (WB) cases at ADL, and ensure timely investigation per WB SOP, reporting to the ADL BAC (as appropriate), and develop the Investigator competencies at ADL.

COMPETENCIES & VALUES

• Clarifies complex business challenges considering a holistic view of the environment, industry, and the business to create or adapt the IA Strategic Plan and Annual IA Plan. (Please refer to the Appendix for factors influencing the audit plan of ADL.)
• Recognize the business traditional and emerging risks, consequently, identify the auditable units that are of high risk and high value (HRHV) not to be missed to be included in the Annual IA Plan.
• Adaptive to changing business needs and conditions and seeks opportunities for the company to continuously monetize or improve its bottom line sustainably through governance, risk management and controls improvement.
• Whistle blow independence, objectivity, confidentiality, efficient & effective administration, as well as investigation methodology to ensure trust and confidence.
• Inculcates high customer orientation, professionalism, confidentiality, and independence in work practices within the IA function.
• Gets action and commitment of others by forging good relationships with relevant stakeholders to resolve key controls significant weaknesses.
• Translates business strategy of the organization into clear goals to direct the time & effort of the functional/ business unit.
• Creates effective integration of the various units in the IA function & WB function as well as key stakeholders outside IA function that fosters teamwork, trust & respect.