Internal Auditor at Domeo Resources International (DRI)

Job Summary

• The Internal Auditor is responsible for providing independent and objective assurance on the effectiveness of the Company's financial controls, operational processes, risk management systems and compliance procedures.
• The role involves reviewing financial transactions, conducting operational audits, identifying control weaknesses, investigating irregularities and recommending improvements to safeguard Company assets and improve operational efficiency.
• The Internal Auditor works closely with Management, Finance, Procurement, Stores, Operations, Human Resources and other departments to ensure that Company policies, procedures, financial controls and approved processes are properly implemented.

Key Responsibilities
Internal Audit Planning:

• Develop and execute internal audit plans based on identified business risks.
• Conduct routine and periodic audits across relevant departments.
• Establish audit objectives, scope and procedures for assigned audits.
• Prioritize high-risk areas for audit review.

Financial Audit:

• Review financial transactions and supporting documentation.
• Verify income, expenses, payments, receipts and other financial records.
• Check the accuracy and completeness of accounting entries.
• Identify unusual, unsupported or unauthorized transactions.
• Ensure financial activities comply with approved policies and procedures.

Cash and Revenue Audit:

• Conduct regular cash audits and surprise cash counts.
• Review daily cash collections and cash reconciliation.
• Verify cashiers' records against supporting documents.
• Check bank deposits and related documentation.
• Investigate cash shortages, overages and unexplained variances.

Bank Reconciliation Review:

• Review bank reconciliation statements.
• Verify outstanding deposits, withdrawals and other reconciling items.
• Investigate unusual or unexplained differences.
• Ensure reconciliation issues are properly resolved and documented.

Procurement Audit:

• Review procurement processes and purchasing documentation.
• Verify purchase requisitions, quotations, approvals, purchase orders and invoices.
• Check compliance with approved procurement procedures.
• Identify unauthorized purchases, duplicate payments or unusual transactions.

Stores and Inventory Audit:

• Conduct physical stock counts and inventory verification.
• Compare physical stock with stock records and system balances.
• Investigate shortages, excesses, damaged stock and unexplained variances.
• Review stock receiving, issuing and transfer procedures.
• Monitor compliance with inventory control procedures.

Accounts Payable and Receivable Audit:

• Review supplier invoices and payment documentation.
• Verify that invoices are properly authorized before payment.
• Review outstanding receivables and payables.
• Identify duplicate, overdue or unusual transactions.
• Verify supporting documentation for payments and collections.

Revenue and Sales Verification:

• Review revenue records from various departments and revenue streams.
• Compare sales records with cash, POS and bank collections.
• Identify revenue leakages and unexplained variances.
• Verify discounts, refunds, complimentary services and voided transactions where applicable.

Payroll and Staff Cost Audit:

• Review payroll records and supporting documentation.
• Verify staff attendance, overtime, allowances and deductions where applicable.
• Identify duplicate, unauthorized or inaccurate payroll entries.
• Verify that payroll changes have appropriate approvals.

Operational Audit:

• Review operational processes across departments.
• Assess whether procedures are being followed as approved.
• Identify inefficiencies, control weaknesses and operational risks.
• Recommend practical improvements to management.

Compliance Audit:

• Monitor compliance with Company policies, procedures and approved controls.
• Review departmental adherence to established processes.
• Identify policy violations and control breaches.
• Report significant compliance issues to Management.

Fraud Risk and Investigation:

• Identify indicators of fraud, theft, financial manipulation and other irregularities.
• Participate in investigations when assigned.
• Review relevant records and supporting evidence.
• Document findings objectively and confidentially.
• Escalate suspected fraudulent activities through the appropriate channels.

Fixed Assets Audit:

• Verify the existence and condition of Company assets.
• Review fixed asset registers and supporting documentation.
• Conduct periodic physical verification of assets.
• Identify missing, damaged, unrecorded or improperly disposed assets.

Internal Control Review:

• Evaluate the effectiveness of internal controls.
• Identify weaknesses, gaps and areas of potential risk.
• Recommend appropriate control measures.
• Follow up on implementation of agreed corrective actions.

Audit Working Papers:

• Maintain accurate and complete audit working papers.
• Document audit procedures, evidence, findings and conclusions.
• Ensure audit documentation is properly organized and secure.
• Maintain confidentiality of audit information.

Audit Reports:

• Prepare clear and objective internal audit reports.
• Document audit findings, risks and supporting evidence.
• Provide practical recommendations for identified control weaknesses.
• Submit reports within agreed timelines.

Follow-Up Audits:

• Monitor implementation of audit recommendations.
• Conduct follow-up reviews to confirm corrective actions.
• Report outstanding audit issues to Management.
• Track unresolved findings until appropriate action is taken.

Risk Management:

• Support Management in identifying financial and operational risks.
• Assess the adequacy of existing controls.
• Recommend measures to reduce identified risks.
• Participate in risk assessment exercises where required.

Departmental Coordination:

• Work closely with Finance, Procurement, Stores, Operations, HR and other departments.
• Request and review relevant records and supporting documents.
• Maintain professional and objective relationships with audited departments.
• Attend management and departmental meetings where audit input is required.

General Audit Support:

• Provide internal control and risk management advice to Management.
• Support special audits and investigations assigned by Management.
• Assist in improving financial and operational accountability.
• Perform other audit-related duties assigned by Management.

Qualifications & Requirements
Education:

• BSc/HND in Accounting, Finance, Economics, Business Administration, Audit, or a related discipline.
• Professional qualification such as ICAN, ACCA, ACA, ANAN, CISA or relevant internal audit certification is an advantage.
• Strong knowledge of accounting principles, internal controls and audit procedures.

Experience:

• 3–5 years relevant experience in internal audit, external audit, accounting, finance or compliance.
• Proven experience in financial and operational auditing.
• Strong knowledge of cash reconciliation, bank reconciliation, inventory control and financial documentation.
• Experience auditing procurement, stores, payroll and revenue processes is an advantage.
• Experience with accounting software, ERP systems or audit tools is an advantage.
• Strong analytical, investigative and report-writing skills.
• High level of integrity, confidentiality, attention to detail and professional judgment.