The Internal Audit (IA) Function in Thermax objectively evaluates, controls and provides assurance to the Audit Committee and Senior Management about the effectiveness of internal controls and governance processes established by the Company. It assists the operational management to strengthen internal controls, mitigate operational risks and improve governance processes.
To move up on the internal audit capability level, IA is in the process of initiating new projects such as automation of its internal audit processes, introduction of Control Self-Assessment processes (a process which enhances organization wide control environment) and Data Analytics. These are projects which enhance corporate governance.
The function has been operating on a co-sourcing model. It is now looking at expanding its in-house team.
Brief Job Description & Responsibilities:
- Conducting internal audits as per internal audit plan and in accordance with the pre-defined audit processes
- Document, evaluate and test manual and automated systems and controls to determine their existence, adequacy, effectiveness and continuity ensuring:
- effectiveness and efficiency of operations (including accomplishment of management objectives)
- compliance with laws, regulations, contracts, policies and procedures
- reliability and integrity of information
- safeguarding of assets
- Prepare working papers as per laid down processes
- Develop and discuss audit findings, recommendations and monitor the implementation status of agreed action plan
- Draft audit reports
- Assist in preparation of presentations of audit results
- Participate in Internal Audit projects and initiatives and execute the tasks allocated within stringent timelines
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