Internal Audit Expert

Job description / Role

• Develop a deep understanding of the utility’s business strategy, policies, processes, risks and controls.
• Develop the Annual Audit programme and agree it with senior management and the Audit and Risk Committee.
• Conduct internal audits in accordance with the agreed programme as well as ad hoc reviews and audits as required.
• Communicate the results of audits and reviews via written reports and oral presentations to executive management and the Board of Directors.
• Represent Internal Audit at management and Board meetings and committees and with external organizations.
• Develop and maintain strong relationships with all areas of the business to influence appropriate change in the control framework.
• Develop and engage with relevant external advisers to keep abreast of audit best practice.
• Manage an appropriate interface with external auditors.
• Employ and develop an appropriately-sized internal audit team.
• Pursue professional development opportunities, including internal and external training and professional association memberships, and share information appropriately.

Requirements

QUALIFICATION:
• Undergraduate Degree in Accounting/Finance or equivalent
• ACCA or equivalent is essential

EXPERIENCE
• Minimum 10 year experience in internal auditing, accounting, finance with at least 5 years at senior level of management.

SKILLS
• Advance level of knowledge in internal auditing, accounting, corporate governance, taxation, business advisory, financial reporting and management reporting
• Familiar with COSO and COBIT and evaluation of internal control systems.
• Technical knowledge related to electricity distribution company business such as extension of electricity distribution network, operation, maintenance and acquisition of primarily substation, transformers.
• Assets Management and Risk management in electricity distribution business include billing, collection and related customer service activity.
• Hard working professional with attitude of serving the organisation in achieving its objection vision and mission.
• Offers excellent leadership skills in combination with a strong analytical background.
• Skilled in the use of computers for the management of fieldwork and projects.
• Advance in communication skills and able to negotiate with the management in implementing the desired recommendation with limited help of the Audit Committee.

About the Company

Muscat Electricity Distribution Company (MEDC) is the only entity responsible for distribution of electricity in the Governorate of Muscat.  It is 99.99% owned by the Electricity Holding Company (EHC) and the remaining 0.01% by Ministry of Finance.  The company was formed on 1st of May 2005 as a result of the Royal Decree  78/2004 promulgating the law for the regulation and privatization of the electricity and related water sector activities in the Sultanate of Oman.

The Decree aims to achieve a comprehensive restructuring of the electricity sector by means of gradual privatization hence the operational responsibilities  were split and passed on from Ministry of Housing, Electricity & Water (MHEW) down to MEDC and nine other companies that are now involved in various related activities.  Having these responsibilities means that MEDC is entitled to own, maintain and develop the distribution networks in the Governorate of Muscat.

MEDC’s main function is to build and maintain the necessary infrastructure for the distribution of electricity in the governorate of Muscat.  The area of responsibility includes private consumers, commercial consumers and government Sector.  This variety in customers gives MEDC a competitive advantage in the field and keeps the door for improvements always open.