Audit Officer at Kloverharris Limited

Job Summary

• The Audit Officer is responsible for supporting the company’s internal audit function by assessing and evaluating the effectiveness of internal controls, risk management processes, and compliance with legal and regulatory requirements.
• This role will assist in the execution of audit plans, perform risk assessments, and provide recommendations to improve internal processes, controls, and overall financial integrity.
• The Audit Officer will ensure that company operations comply with financial policies, corporate governance standards, and industry regulations, especially in the highly regulated alcoholic beverage industry.

Key Responsibilities
Internal Audit Planning & Execution:

• Assist in the development and execution of the internal audit plan, ensuring that audits are aligned with the company’s risk management framework and key business objectives.
• Conduct audits of financial, operational, and compliance processes across various functions (e.g., finance, procurement, sales, inventory) to assess the adequacy and effectiveness of internal controls.
• Plan and execute detailed audits based on risk assessments, including defining audit scope, objectives, and procedures.
• Perform audits in accordance with established audit methodologies and regulatory standards, ensuring the audit process is efficient, objective, and thorough.
• Conduct audits of business units, subsidiaries, and third-party operations, including local and international operations, in line with the company’s global footprint.

Risk Assessment & Control Evaluation:

• Identify and assess potential risks within business processes, systems, and operations to ensure that the company is effectively managing its risk exposure.
• Evaluate internal control structures to ensure compliance with corporate policies, industry standards, and regulatory requirements, particularly in relation to financial reporting and tax obligations in the alcoholic beverage sector.
• Review financial reporting processes to identify gaps, discrepancies, or areas of concern, making recommendations for improvement.
• Assess the implementation and effectiveness of the company’s risk management strategies and recommend improvements to mitigate financial, operational, and compliance risks.

Compliance & Regulatory Review:

• Monitor and review company compliance with internal policies, procedures, and industry-specific regulations (such as alcohol-related regulations, tax laws, and environmental standards).
• Ensure the company’s operations adhere to legal and regulatory requirements, including local and international laws related to the alcoholic beverage industry (e.g., excise duties, product labeling, marketing restrictions).
• Assist in reviewing the company’s compliance with international accounting standards (e.g., IFRS, GAAP) and ensure proper documentation and disclosures are maintained.
• Conduct audits of import/export activities to ensure compliance with customs regulations, as well as other industry-specific regulations related to alcoholic beverages.

Audit Reporting & Documentation:

• Prepare and present detailed audit reports that clearly document audit findings, risks, and control weaknesses, along with practical recommendations for corrective actions.
• Communicate audit results to senior management, finance, and department heads, highlighting significant issues and the associated risks.
• Maintain a comprehensive record of audit work, including audit programs, working papers, and findings, to ensure transparency and traceability.
• Follow up on audit recommendations to ensure that corrective actions are implemented effectively and in a timely manner.

Internal Control Improvement:

• Work with management to improve internal control systems, proposing enhancements to policies and procedures to ensure operational efficiency and compliance with regulations.
• Review and assess existing internal control processes, identifying areas of weakness and suggesting improvements or redesigns where necessary.
• Provide guidance on best practices for internal controls, helping departments streamline processes and mitigate risks.
• Assist in the development of internal control frameworks and procedures to strengthen operational controls and safeguard company assets.

Fraud Detection & Prevention:

• Conduct regular assessments to detect potential fraud, financial misstatements, or unethical practices within the organization.
• Investigate suspicious activities and transactions, ensuring that appropriate corrective actions are taken.
• Provide input and assistance in designing fraud prevention and detection programs to strengthen the company’s internal controls and minimize financial or reputational risks.

Special Projects & Ad-Hoc Audits:

• Participate in special projects or investigations as requested by senior management, such as analyzing specific business processes, resolving compliance concerns, or addressing high-risk issues.
• Perform ad-hoc audits or reviews of areas of concern, including the company’s systems, security, or high-risk transactions.
• Evaluate and audit major capital expenditures, acquisitions, and new ventures to assess potential risks, operational impact, and financial integrity.

Training & Knowledge Development:

• Assist in the training and development of staff and management on compliance, internal controls, risk management, and audit-related matters.
• Stay up to date with industry trends, changes in regulations, and emerging risks that could affect the company’s internal controls or business operations.
• Continuously improve knowledge of auditing standards, best practices, and the regulatory environment in which the alcoholic beverage industry operates.

Collaboration with External Auditors & Other Departments:

• Collaborate with external auditors to ensure the efficient completion of year-end audits, as well as the timely resolution of audit findings.
• Work closely with the finance, legal, and compliance departments to ensure that auditing processes align with organizational goals and regulatory requirements.
• Provide support during external audits, responding to audit queries and facilitating the delivery of necessary documents and information.

Qualifications & Skills
Education:

• Bachelor's Degree in Accounting, Finance, Business Administration, or a related field (required).
• Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar professional certification (preferred).
• Master’s degree or other relevant qualifications (preferred).

Experience:

• Minimum of 4–6 years of experience in internal audit, accounting, or compliance, preferably in the alcoholic beverage, manufacturing, or FMCG industry.
• Strong understanding of audit processes, risk management frameworks, and internal control systems.
• Knowledge of industry regulations and standards, particularly in the alcoholic beverage sector, including tax regulations, customs, and product compliance.
• Experience with financial audits, operational audits, compliance audits, and fraud investigations.
• Familiarity with audit software, ERP systems, and data analytics tools (e.g., SAP, ACL, IDEA) is an advantage.

Skills:

• Strong analytical and critical thinking skills, with the ability to identify risks and provide actionable recommendations.
• Excellent communication skills, both written and verbal, with the ability to present complex audit findings to senior management and non-financial stakeholders.
• Attention to detail and accuracy in audit procedures, reporting, and documentation.
• High level of integrity and professionalism, with a strong understanding of ethical standards in auditing and financial reporting.
• Ability to work independently and manage multiple priorities in a fast-paced, dynamic environment.
• Strong organizational skills and the ability to handle confidential information with discretion.