a. Developing comprehensive audit plans, outlining the scope, objectives, resources, and timelines
b. Identifying and assessing risks that could impact the organization
c. Performing internal audit procedures including inspection of records, observing operations, and interviewing personnel
d. Conducting tests for compliance with laws, regulations, and internal policies.
e. Analyzing transactions and data to identify discrepancies and inefficiencies
f. Conducting root cause-analysis to determine underlying issues and areas for improvement
g. Evaluating the adequacy and effectiveness of internal controls
h. Documenting the results of audit procedures or work performed
i. Communicating the audit findings as well as opportunities for improvement to process owners, management, and relevant stakeholders
j. Proposing actionable recommendations for the improvements in processes and internal controls and risk mitigation strategies
k. Preparing internal audit reports summarizing the findings/observations, root cause, risk/impact, and audit recommendation
l. Performing follow-up on the status of outstanding audit issues.
m. Assisting Internal Audit Management with periodic reporting to the Audit Committee
n. Championing internal control and corporate governance concepts throughout the business.