Senior Internal Auditor

Job description / Role

Review and evaluate the organization's internal controls, processes, policies and mechanisms to ensure that they are adequate, effective and in compliance with Group/Company Policies and Procedures. The auditor is expected to assist Internal Audit in achievement of department objectives through planned internal audit reviews and ad hoc assignments in accordance with the Audit Charter.

Key Tasks:

Operational
- Perform financial, operational, compliance audits and ad hoc assignments.
- Develop and enhance sector based knowledge.
- Preparation of system notes for process under review using narratives and/or flow charts and assist in identification of key risks and controls in place to mitigate such risk.
- Assist in the development of risk-based audit programs.
- Assist in the development of detailed audit work papers incorporating test schedules to ensure that the audit objectives are met.
- Completion of audit steps/tests assigned to self within agreed time budgets. Keeping the in-charge / Manager informed of progress for any project time extension.
- Ensure that all work papers are prepared and adequate, clear and relevant evidence obtained to sufficiently support the audit conclusion. All work papers should have been properly referenced.
- Gather data for internal audit through a variety of methods including interviews, financial research, downloads, analysis, etc.
- Based on evidence gathered and testing performed conclude clearly on each step assigned bearing in mind that the internal controls being tested are suitable, efficient and effective and the audit objective has been met.
- Responsible for discussing and validating any audit exceptions /weakness/concerns highlighted during reviews with client, identifying related risks, recommend corrective action/improvements and document relevant Management responses for the exception in the Team Mate Exceptions.
- Quantify where possible the value of impact and incorporate them in the exception, ensure that proper appendix is maintained for all noted exceptions.
- Assess, where applicable, compliance with the International Accounting Standards (IAS), Regulatory requirements, Company Policies & Procedures and DoA etc.
- Contribute to the identification of key risks and controls during each audit project and evaluate and report on the adequacy and effectiveness of the entity internal controls.

Additional responsibilities as In-charge:
- Attend entrance meeting with the Audit Manager and ensure that client is aware of the complete audit process.
- Determine scope of review and audit objectives in conjunction with the Supervisor / Audit Manager.
- Identify new/emerging risks if any and appraise Audit Manager and determine whether the same warrants any additional work.
- Completion of audit, including steps/tests assigned to self and team within agreed time budgets. Keeping the Manager informed of progress for any project time extensions.
- Perform timely quality review of work performed by the audit staff assigned to the project.
- Attend exit meetings and prepare draft audit report for timely submission to Audit Manager.
- Completion and wrap-up of relevant Teammate file (EWP) in compliance with established Departmental quality standards.

Administration
- Ensure compliance with the Internal Audit Departmental standards and Policies and Procedures.
- Ensure compliance with Company Policies and Procedures.
- Develop and maintain strong rapport with key operating and corporate associates.
- Timely completion of Oro-timesheet.

Requirements

- Should possess a bachelors degree in accounting or related field.
- Should possess a professional certificate or should be studying towards qualification CA, CPA or ACCA, or CIA;
- 4 to 6 years relevant audit experience; out of which at least 2-3 years worked in Internal Audit Department of real estate, construction, hospitality & malls industries and 2-3 years with big 4 audit firm.

Complexity:
- Thorough understanding of both Internal Audit and Accounting Standards.
- Ability to appreciate the required operating standards of a range of the Groups business operations.
- Understanding a range of Computerized Information Systems used in operating divisions.
- Understanding in application of audit management software (ACL, Excel, Teammate etc.).
- Thorough understanding of IIA standards.
- Maintain independence (in substance and form) from operational decisions.
- Work in overseas locations, ability to understand and work across different cultures and regulatory environments.
- Strong analytical, written/verbal communication, interpersonal, and relationship building skills
- Maintaining good relationships with the Client Management.
- Ability to supervise audit staff (for in-charge)
- Ability to work independently and within a team environment.

About the Company

Majid Al Futtaim Properties is one of MENAs leading diversified property companies with operations across shopping malls, hotels and mixed-use communities.

The Shopping Malls Business Unit, an industry leader, owns, manages and develops mall destinations that provide memorable shopping, entertainment and social experiences for its customers. Majid Al Futtaim Properties has pioneered the regional face of retail, leisure and entertainment, since the launch of its first mall, Deira City Centre in 1995. The companys mall portfolio includes 17 shopping centres across UAE, Bahrain, Oman, Egypt and Lebanon with a combined gross leasable area (GLA) of over 1 million sqm, more than 2,800 tenants and an increasing footfall of over 160 million visitors in 2013.

The Hotel Business Unit develops and manages hotels and branded serviced apartments that are synergistic with the companys malls. Majid Al Futtaim owns nine hotels in the UAE and two in Bahrain. Their strategic proximity to the malls contributes to welcoming over 1.2 million guests annually.

The Communities Business Unit develops quality mixed-use projects anchored by residential housing. Majid Al Futtaim currently has three communities under development. The Wave, a joint venture with the government of Oman to develop Muscats largest ocean-front integrated community; Al Zahia, a joint venture with the Government of Sharjah, to build the Emirates first gated residential community with a regional mall in a prime growth corridor; The 250,000 sqm Waterfront City development in Beirut, Lebanon, a joint venture with Socit Joseph Khoury & Fils Holding SAL to build Beiruts premier mixed used community with one of the largest marinas in the Mediterranean.

Majid Al Futtaim Properties is recognised as a sustainability leader in the MENA region. According to the 2013 Global Real Estate Sustainability Benchmark (GRESB) survey, the company ranks No. 1 in MENA, second in the Asia-Pacific region and in the top 133 property businesses worldwide. In 2013, Majid Al Futtaim launched its new five-year sustainability strategy with the vision to enhance peoples lives through sustainable real estate. This commitment is reflected in Majid Al Futtaim Properties pioneering standards, prosperous communities and high performance assets.