Internal Audit

Scope of work

Internal Audit Officer is responsible for evaluation and improvement the effectiveness of governance, risk management, and control processes using a systematic and disciplined approach, prioritizing its efforts through a flexible, risk-based internal audit plan, driven by a continuously facilitated risk assessment.

Main responsibilities and tasks

• Perform and monitor a full audit cycle, including risk management and control management over operational efficiency, financial reliability, and compliance with all applicable directives and regulations
• Assess whether opportunities and related risks are appropriately and timely identified and managed
• Evaluate the reliability, integrity, and timeliness of financial, managerial and operational information, as well as the means used to identify, measure, classify, and report such information
• Evaluate whether actions of employees comply with policies, standards, procedures, and applicable laws and regulations, and reflect good judgment
• Provide opinions on the adequacy and effectiveness of the organization’s processes for controlling its activities and managing its risks in the areas identified for internal audit purposes
• Identify loopholes and recommend risk aversion measures and cost savings
• Involve in the continuous development of knowledge about microfinance sector’s rules, regulations, best practices, tools, methods and standards
• Monitor all available whistle-blower channels to solve problems in a timely manner, assist in investigation and monitoring of significant suspicious activities in the organization
• Preparation and submission of reports reflecting the results of the audit
• Report on significant issues related to processes of control activities, including potential improvements to those processes