Internal and Audit Lead at Smart Partners

Job Summary

• The Head of Internal Control & Compliance is responsible for designing, implementing, and maintaining an effective internal control framework to ensure the accuracy, completeness, and integrity of financial and operational processes. This role will identify and mitigate risks, streamline processes, and ensure compliance with laws, regulations, and company policies.
• This role is in charge of cash and bank management reviews, daily checking of financials including lists of debts, receivables, and payables, processing bills/invoice payment review, and daily review of auditees' activities including fleet management, petroleum products, cement, and iron rod.

Responsibilities

• The activities were examined in line with audit plans, audit programs, and audit checklists.
• It is a vouching-based audit approach.
• Our main concern is to prevent, detect, and correct flaws, errors, and misappropriations in order to safeguard the company’s assets and ensure business continuity.
• Prevention of cash suppression, diversion, and leakages and proper monitoring.
• We believe in prevention rather than detection of errors, frauds, and misappropriations.
• Have zero tolerance for frauds, income leakages, and intentional errors; mitigate financial and operational risks including financial loss.
• Identify, assess, and prioritize risks; develop and implement mitigation strategies.
• Design and maintain an effective internal control framework, including policies, procedures, and standards.
• Streamline processes and procedures to optimize resource utilization and reduce costs.
• Ensure compliance with laws, regulations, and company policies; maintain up-to-date knowledge of regulatory requirements.
• Collaborate with external auditors and ensure timely resolution of audit findings.
• Protect organizational assets and income from theft, fraud, or misuse.
• Supervise operational processes, including procurement, inventory management, and logistics.
• Lead the internal control team; provide guidance, training, and development opportunities.
• Prepare reports and analytics for management and the audit committee; provide insights and recommendations.
• Lead special projects, such as fraud investigations, risk assessments, and process improvements.
• Perform related duties as assigned by the Managing Director.

Activities Covered:

• Financial Audits
• Operational Audits
• Environmental Audits

Financial Audits:
The financial audit covered the company’s:

Cash and Bank Management:

• Verification of bank statements of:
  • Union Bank
  • Access Bank
  • First Bank
  • Fidelity Bank
  • GTBank
• Against the payment vouchers and registers/books from the front office.
• Main concern is the debits (outflows) rather than the inflows (credits).
• Checking the charges/fees – interest, COT, SMS.
• Daily Cash Count
  • Taking into consideration the company’s total sales less lodgments to get the cash in hand.
• Petty Cash Count
  • Cash count on petty transactions of the company, comparing physical cash against the system's balance.
• Financial Reviews
  • Review of expenses payment vouchers, truck maintenance payment vouchers against the registers, taking into consideration volume (litres), product name (AGO), and unit price to obtain value (₦).
  • Ensure that the amount in figures tally with the amount in words.

Operational Audits:

• Cost Controls and Reductions
  • Primary concern on the inventories.
• Inventories/Stock Cards
  • The mechanic components/items in the outer store have been entered into the stock cards.
• Customers’ Accounts with Debit Balances
  • Review debtors' list on overdue debts.

Environmental / Security Audits:
Security Register:

• The audit teams are monitoring this daily for proper implementation of the security register.

Key Performance Indicators:

• Regulatory compliance.
• Regulatory reporting.
• Audit and control.
• Fraud investigation and error prevention.
• Review of financials including risk assets.
• Internal control reports.
• Control self-assessment reports.
• Risk assessment reports.
• Compliance reports.
• Management/special audit reports.
• Process improvement reports.
• Control framework reports.
• IT general controls reports.

Minimum Educational Qualification & Experience

• Higher National Diploma/Bachelor’s Degree in Accounting, Finance or related field.
• Professional Certification e.g. ACA, ACCA, IIEIP.
• Minimum 5 years of experience in internal control, audit, or risk management.
• Other certifications and training.

Knowledge, Skills, Capabilities, and Personal Qualities:

• Excellent verbal and written communication skills, ability to effectively communicate with internal and external customers.
• Excellent computer proficiency in all MS Office, ERP software, and other accounting software.
• Ability to work under pressure, methodically, and meet deadlines while maintaining a positive attitude and providing exemplary customer service.
• Ability to work independently and carry out assignments to completion within the parameters of instruction given, prescribed routines, and standard accepted practices.
• Investigative
• Analytical
• Reporting
• Forensic Audit/Accounting
• Strong knowledge of accounting principles, practices, and procedures.
• Strong analytical and problem-solving skills.
• Excellent organizational, prioritization, result-driven, and leadership abilities.
• Exceptional attention to detail, accuracy, and a keen eye for aesthetics.
• Project Management
• Good assertiveness, problem-solving, and decision-making skills.
• Ability to contribute individually and lead, manage, or participate in cross-functional teams.
• Outstanding interpersonal, tech enthusiast, and persuasive abilities.
• Ability to create great working relationships with all levels within the company and across multiple disciplines.