CHIEF AUDIT EXECUTIVE JOB DESCRIPTION

Position: Chief Audit Executive

Organization: XYZ Organization

Reports To: Audit, Compliance and Management Review Committee

Location: (Insert Location)

ABOUT OUR ORGANIZATION

(Insert Text)

THE POSITION

The chief audit executive (CAE) for XYZ Organization is responsible for oversight of all internal audit functions at
the 15 institutions that comprise the XYZ Organization and is charged with assuring that an effective internal audit
function is in place organizationwide. The primary responsibility of the chief audit executive for XYZ Organization
is developing an organizationwide internal audit plan based on a comprehensive risk assessment and
coordinating the implementation of the audit plan with the chief audit executives for the X subsidiaries.

The chief audit executive for XYZ Organization is also responsible for the XYZ Organization audit office at XYZ
Organization administration. This office is composed of 18 professional and support staff who provide an objective
evaluation of operations, policies and procedures, and controls at administration to management, to the
organization internal audit committee, and the audit, compliance and management review committee (ACMRC) of
the board of regents. The XYZ audit office also provides direct support to the internal audit departments of
midsize and small institutions of XYZ Organization.

The XYZ University’s internal audit activity is established by the board of regents, and the chief audit executive
works with the board and with organization leadership to ensure effective implementation of the board’s
responsibility to XYZ University and the state of (Insert Location). The responsibilities of internal audit are defined
by the ACMRC as part of its oversight role and conform to IIA standards: Internal auditing is an independent and
objective assurance and consulting activity that is guided by a philosophy of adding value to improve operations of
XYZ Organization in order to assist the board of regents in accomplishing its objectives by bringing a systematic,
disciplined approach to evaluate and improve the effectiveness of risk management, control and governance
processes.

The chief audit executive reports functionally to the ACMRC and Person X and works administratively with the
general counsel to the board of regents. The ACMRC approves all decisions regarding the performance
evaluation, appointment or removal of the chief audit executive as well as the chief audit executive’s
compensation. The chief audit executive communicates and interacts directly with the ACMRC, including in
executive sessions, and with the ACMRC chairman between meetings as appropriate. The chief audit officer of
each XYZ subsidiary reports on a dotted line to the organization’s chief audit executive and via a direct line to the
subsidiary president and the subsidiary internal audit committee.

The internal audit activity, with strict accountability for confidentiality and the safeguarding of records and
information, is guaranteed full, unrestricted access to all of XYZ Organization’s records, physical properties and
personnel pertinent to carrying out an engagement. All employees are expected to assist internal audit in fulfilling
its roles and responsibilities. The internal audit activity has unrestricted access to the XYZ Organization
administration internal audit committee (IAC) and the ACMRC.

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 SPECIFIC RESPONSIBILITIES

The chief audit executive has responsibility and authority to:

• Evaluate the reliability and integrity of information and the means used to identify, measure, classify and report
such information.
• Evaluate the systems established to ensure compliance with those policies, plans, procedures, laws and
regulations, which could have a significant impact on XYZ Organization.
• Evaluate the means of safeguarding assets and, as appropriate, verify the existence of such assets.
• Maintain a professional audit staff with sufficient knowledge, skills, experience and professional certifications.
• Evaluate the effectiveness and efficiency with which resources are employed.
• Evaluate operations or programs to ascertain whether results are consistent with established objectives and
goals and whether the operations or programs are being carried out as planned.
• Monitor and evaluate governance processes.
• Monitor and evaluate the effectiveness of the organization’s risk management processes.
• Evaluate the quality of performance of external auditors and the degree of coordination with internal audit.
• Perform consulting and advisory services related to governance, risk management and control as appropriate
for the organization.
• Report periodically on the internal audit activity’s purpose, authority, responsibility and performance relative to
its plan.
• Assist in the investigation of significant suspected fraudulent activities within XYZ Organization administration
and institutions as requested by the chancellor, the IAC or the ACMRC.
• Report significant risk exposures and control issues, including fraud risks, governance issues and other
matters needed or requested by the board of regents.
• Evaluate specific operations at the request of management, the IAC or the ACMRC, as appropriate.
• Coordinate efforts with other control and monitoring functions (risk management, compliance, security, legal,
ethics, environment and external auditors).
• Confirm to the IAC and the ACMRC, at least annually, the organizational independence of the internal audit
activity.
• Report to the ACMRC, IAC and the chancellor on the internal audit activity’s quality assurance and
improvement program, including results of ongoing internal assessments and IIA-standard external
assessments conducted at least every three years.

QUALIFICATIONS

• Have designation as a certified internal auditor (CIA) and/or a certified public accountant (CPA).
• Own a bachelor’s degree or equivalent in business, accounting, finance or a related field is required; a
master’s degree or the equivalent in business, accounting, finance or a related field is preferred.
• Demonstrate outstanding leadership skills and documented capacity to serve as a member of senior
management and to affect change in institutional culture and operations in a decentralized, multifunction
environment.
• Have substantial internal audit and audit management experience with increasing levels of responsibility,
demonstrated knowledge of and ability to implement best practices and a strong grasp of risk-based auditing.
• Possess relevant experience in one or more tightly regulated industry sectors and with complex and
decentralized business environments.

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• Prove ability to lead and manage a comprehensive, dynamic and proactive program of independent internal
auditing, consulting and training in risk identification, assessment and control.
• Prove ability to design a comprehensive risk-based audit plan that identifies and assesses key processes and
procedures across a complex enterprise with multiple missions and many internal and external stakeholders.
• Prove ability to assist in the design and implementation of a program that will serve as the basis for
determining XYZ Organization’s effectiveness in achieving its operational, financial reporting and compliance
objectives.
• Demonstrate a strong understanding of internal control with a thorough working knowledge of the concepts
embodied in the Institute of Internal Auditors (IIA) International Professional Practices Framework.
• Have outstanding written and oral communication skills coupled with the ability to assess the practicality and
applicability of recommended solutions to problems encountered.
• Be able to identify and hire excellent staff and to develop skills and expertise in staff such that they can
assume expanded responsibilities.

For More Information, Please Contact:

Name:
Company:
Location:
Email:
Contact:

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