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
- Assist Audit Management in performing the risk assessment of the assigned project portfolio and in developing the annual audit plan
- Performing financial, operational and compliance audits for projects assigned.
- Develop and enhance sector based knowledge.
- Managing the resources within the project and ensuring timely completion of assigned audit projects.
- Assist in preparing the risk/control framework for the entity under review.
- Responsible for supervising audit projects.
- Review and preparation of system notes for businesses under review using either narratives or flow charts.
- Development of Internal controls questionnaires, audit programs and detailed audit work papers incorporating test schedules, observations, audit conclusions and ensuring audit objectives are satisfactorily met.
- Evaluate the adequacy and effectiveness of internal controls including the risk management process.
- Ensure that all audit work papers prepared are consistent with the Departmental standards, contain sufficient supporting information / documentation and have been properly referenced.
- Based on evidence gathered and testing performed ensure that all audit steps have been addressed appropriately and concluded bearing in mind that the internal controls being tested are suitable, efficient and effective and the audit objective has been met.
- Ensure any weakness/concerns are discussed with the client and all audit exceptions are raised, related risks highlighted and recommend corrective action/improvements which are feasible and value-adding.
- Determine whether transactions under review are in accordance with the International Accounting Standards(IAS)
- Conduct reviews of all team members work papers including Incharge where applicable.
- Ensure projects are completed in agreed budgets and project milestones are met.
- Lead/Attend Entrance, Exit and close-out meetings with client.
- Ensure timely issuance of Draft and Final reports to the IA Management. .
- Completion of the relevant Teammate file (EWP) in compliance with established departmental quality standards.
- Completion of project-specific performance appraisals for audit staffs
- Perform / supervise ad-hoc assignments as required by the Senior Audit Management.
- Provide on job training to team and assist Managers in identifying individual training needs where required.
Administration
- Ensure compliance with Group Policies and Procedures.
- Ensure compliance with the Internal Audit Departmental standards and policies and procedures.
- Develop and maintain strong rapport with key operating and corporate associates.
- Timely completion of Oro-time sheet.
REQUIREMENTS
- Should possess professional qualification ACA / ACCA / CPA and should possess or studying towards profession certification CIA or CISA;
- Minimum 7 years of relevant audit experience; out of which
- at least 3-4 years worked in Internal Audit Department of real estate, construction, hospitality & malls industries; and
- at least 3-4 years with big 4 audit firm ( pre-qualification or post qualification experience)
- Overall minimum 2-3 years post qualification experience
Complexity:
- 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.
- Proficiency in application of audit management software (ACL, Excel, Teammate etc.).
- Maintain independence (in substance and form) from operational decisions.
- Work in overseas locations, ability to understand and work across different cultures and regulatory environments.
- Maintaining good relationships with the Client Management.
- Ability to supervise audit staff on simultaneous assignments.
- Very good communication and presentation skills.
- Highly analytical and assertive personality.
- 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.
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