Internal Auditor at Northwest Petroleum & Gas Company Limited

Main Key Responsibilities: –

Audit Planning and Execution:

• Support in the developing and implementing annual audit plans based on risk assessments, industry standards, and regulatory requirements.
• Conduct financial, operational, and compliance audits to assess the effectiveness of internal controls and adherence to company policies and procedures.
• Ensure audits are conducted in accordance with audit methodology and in line with local and international standards (e.g., IIA, IPPF).
• Perform risk-based audits, ensuring a focus on key areas such as revenue leakages, inventory management, procurement, and regulatory compliance.

Risk Assessment and Internal Control Evaluation:

• Evaluate the adequacy and effectiveness of internal controls and processes, identifying weaknesses and potential risks.
• Provide recommendations to mitigate risks, improve operational efficiency, and ensure compliance with regulatory requirements (e.g., NPA, NUPRC, NMDPRA, NIMASA etc).
• Monitor key performance indicators (KPIs) related to risk management and internal controls.

Reporting and Communication:

• Prepare detailed audit reports highlighting findings, risks, and recommendations for management and stakeholders.
• Communicate audit findings and provide actionable recommendations to management in a clear and concise manner.
• Follow up on management’s corrective actions to ensure implementation of audit recommendations.

Compliance and Regulatory Audits:

• Ensure the company adheres to Nigerian laws and regulations specific to the downstream oil and gas sector.
• Conduct compliance audits related to the Petroleum Industry Act (PIA) and other industry-specific regulations.
• Coordinate with regulatory authorities during audits and ensure that all statutory requirements are met.

Fraud Detection and Prevention:

• Identify and investigate instances of fraud, corruption, and financial mismanagement.
• Develop internal controls to prevent fraud and ensure transparency in financial transactions and reporting.
• Provide guidance to management on fraud risk management and mitigation strategies.

Continuous Improvement and Best Practices:

• Stay updated with industry trends, audit best practices, and regulatory changes within the oil and gas sector.
• Recommend and implement process improvements to enhance the efficiency and effectiveness of internal audit activities.
• Assist in training and capacity building for internal audit staff and other stakeholders.

Collaboration and Stakeholder Management:

• Work closely with various departments, including Finance, Operations, Procurement, and Legal, to ensure alignment with audit objectives.
• Serve as a point of contact for external auditors, regulators, and other third parties during audits and investigations.
• Foster a culture of accountability, transparency, and continuous improvement within the company.

Qualifications:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Professional certifications such as ACA, ACCA is mandatory, while CIA (Certified Internal Auditor), or CISA (Certified Information Systems Auditor) are highly preferred.
• Minimum of 3-5 years of audit experience, preferably within the oil and gas industry.
• Strong understanding of the Nigerian oil and gas downstream sector, including regulatory frameworks and key business processes.
• Experience in financial reporting, risk management, and compliance audits.

Key Skills:

• Excellent analytical and problem-solving skills.
• Strong attention to detail and ability to identify key risk areas.
• Proficiency in audit tools and Microsoft Office Suite.
• Knowledge of Nigerian tax laws, IFRS, and oil and gas regulations.
• Strong communication and report-writing skills.
• High level of integrity and ethics in handling confidential and sensitive information