Internal Auditor

1. Purpose of the Role

This Terms of Reference outlines the responsibilities, authority, and accountability of the Internal Auditor. The role supports the Board of Directors and the Audit Committee by delivering independent and objective assurance on the effectiveness of the organization’s risk management, internal control, compliance, and governance frameworks.

2. Objectives

• Evaluate the adequacy and effectiveness of internal control systems across the company.
• Assess compliance with organizational policies, applicable laws, and regulatory requirements.
• Provide independent assurance to the Chairman and the Board on risk mitigation and governance effectiveness.
• Recommend actionable improvements for enhanced operational efficiency and cost optimization.

3. Scope of Work

The Internal Auditor shall have unrestricted access to all departments and operations within the company. Key focus areas include, but are not limited to:

• Financial reporting and internal accounting controls
• Procurement processes and contract oversight
• Project and development expenditure tracking
• Asset utilization and management
• Risk identification and mitigation systems
• Regulatory and legal compliance
• Human resources and payroll controls

• Information technology systems and data security.
• Investigate suspected fraud or unethical conduct.
• Analyse whether resources are being used economically and efficiently.
• Identify control weaknesses and suggest appropriate improvements.

4. Key Responsibilities

• Develop and implement a risk-based internal audit plan.
• Conduct audits, reviews, and special investigations in line with professional auditing standards.
• Prepare and present audit reports, findings, and recommendations to the Chairman and Board.
• Monitor the implementation of audit recommendations and corrective actions.
• Collaborate with external auditors and regulatory authorities as required.
• Provide advisory input on strengthening internal controls and governance structures.
• Maintain the internal audit charter and periodically review audit policies and procedures.
• Detect errors, misstatements, or fraudulent activities.
• Team restructuring and developing successor plan.