Head, Internal Audit at Domeo Resources International (DRI)

Main Function

• The Head of Internal Audit is responsible for developing, implementing, and overseeing the company’s internal audit and control systems to ensure financial integrity, operational efficiency, regulatory compliance, and risk management.
• The role ensures that all departments including production, retail outlets, inventory, finance, and procurement operate in accordance with company policies, approved procedures, and industry standards.

Role Responsibilities
Internal Audit Planning & Strategy:

• Develop and implement the annual internal audit plan based on risk assessment.
• Establish internal control policies and audit procedures across all departments.
• Ensure effective audit coverage of production, retail stores, warehouse, finance, and administration.
• Review business processes and recommend improvements to strengthen controls.

Financial Audit & Control

• Conduct periodic and randomised audits on cash, sales, expenses, and financial records.
• Verify daily sales reports from outlets and reconcile with POS and bank records.
• Review payroll, vendor payments, and procurement transactions.
• Ensure proper authorization and documentation of all financial activities.
• Identify and investigate financial irregularities or fraud.

Inventory & Production Audit:

• Audit raw materials, fabrics, accessories, and finished goods inventory.
• Verify stock movement between production, warehouse, and retail outlets.
• Conduct periodic physical stock counts and reconcile with system records.
• Monitor wastage, damages, and losses in production.
• Ensure adherence to approved costing and usage standards.

Operational & Compliance Audit:

• Ensure compliance with company SOPs across all departments.
• Audit retail outlets for adherence to sales, customer service, and cash handling procedures.
• Verify compliance with company policies in procurement, HR, and administration.
• Ensure all operations comply with applicable laws and regulations

Risk Management & Fraud Prevention:

• Identify operational, financial, and compliance risks.
• Develop and implement controls to minimize risk exposure.
• Investigate cases of theft, fraud, misconduct, or policy violations.
• Maintain confidentiality and professionalism in all investigations.

Reporting & Management Advisory:

• Prepare detailed audit reports with findings, risk levels, and recommendations.
• Present audit reports to management and the Board where required.
• Follow up on implementation of audit recommendations.
• Provide advisory support to management on control and risk issues.

Policy Development & Internal Controls:

• Develop and update internal control policies and audit guidelines.
• Ensure proper segregation of duties in all departments.
• Strengthen approval and authorization processes.
• Promote accountability and transparency across the company.

Team Leadership & Supervision:

• Supervise internal audit staff and assign audit tasks.
• Review audit work for accuracy and completeness.
• Train staff on audit procedures and internal controls.
• Ensure high professional standards within the audit unit.

Qualifications and Requirements

• Bachelor’s Degree in Accounting, Finance, Business Administration, or related field.
• Professional certification such as ICAN, ACCA, ACA, CIA, or equivalent is required.
• Minimum of 7–10 years experience in audit, finance, or internal control, preferably in retail, fashion, manufacturing, or FMCG.
• Experience auditing inventory, retail outlets, and production processes is an advantage.

Core Competencies:

• Strong knowledge of internal audit principles and financial controls
• Excellent analytical and investigative skills
• High attention to detail
• Strong leadership and supervisory ability
• Knowledge of inventory and retail audit systems
• Good report writing and presentation skills
• Strong understanding of risk management.