DIRECTOR OF INTERNAL AUDIT JOB

DESCRIPTION

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 DIRECTOR OF INTERNAL AUDIT JOB DESCRIPTION

Table of Contents
REPORTING RELATIONSHIP................................................................................................................................. 2
COMPANY BACKGROUND..................................................................................................................................... 2
RESPONSIBILITIES................................................................................................................................................. 2
KEY SELECTION CRITERIA................................................................................................................................... 2
KEY PERSONAL AND PROFESSIONAL CHARACTERISTICS..............................................................................3
EDUCATION............................................................................................................................................................ 3
COMPENSATION.................................................................................................................................................... 3
CONTACT INFORMATION...................................................................................................................................... 3

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 REPORTING RELATIONSHIP

This individual reports directly to the chairman of the audit committee with the dotted line. They both also have an
administrative reporting relationship with the senior vice president and chief financial officer.

COMPANY BACKGROUND

(Insert Company Information Here)

RESPONSIBILITIES

Under general supervision, the director of internal audit is responsible for preparing and implementing a risk-
based audit plan to assess, report on, and make suggestions for improving the company’s key operational and
finance activities and internal controls. Additionally, the position is responsible for identifying and assisting in
documenting existing internal finance and disclosure controls, implementing and documenting new internal
controls, and establishing an internal monitoring function to audit the company’s compliance with such internal
controls. The position will have a key role in assessing the company’s compliance with the requirements of the
Sarbanes-Oxley Act of 2002. The position will be further called on to identify and implement finance department
process improvements.

Key responsibilities and priorities for the director of internal audit will include the following:
• Identify, understand, and document processes and procedures surrounding internal controls. Continually
monitor and update the assessment of the control environment, keeping abreast of significant control issues,
trends and developments.
• Develop test plans and coordinate the performance of management testing of internal controls required by
Sarbanes-Oxley.
• Identify and assess the implementation of new controls, as necessary.
• Prepare and update a comprehensive risk-based audit plan for evaluating the effectiveness of controls in place
to manage significant risk exposures, ensure the integrity and reliability of information and financial reporting,
safeguard company assets, and comply with laws and regulations.
• Identify and design anti-fraud criteria and controls.
• Monitor and audit the company’s compliance with established internal controls.
• Establish procedures and plan for conducting internal control audits.
• Report findings to senior management and the company’s audit committee.
• Understand the requirements of the Sarbanes-Oxley Act of 2002 (and any related SEC pronouncements), and
assist in maintaining processes and functions to help ensure compliance with such requirements.
• Coordinate activities with external auditors to support their audit and review procedures.
• Participate in disclosure committee meetings.
• Review finance department business processes and suggest ways to improve such processes.

KEY SELECTION CRITERIA

The new director of internal audit must be an outstanding leader of uncompromising integrity along with the
necessary credibility, expertise and experience required to lead the organization forward successfully.
Specifically, he/she must meet the following specific criteria:

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• Prove a minimum of five years of experience with a public accounting firm and five years of corporate industry
experience with a heavy emphasis on financial and accounting applications and financial and operational
controls.
• Demonstrate comprehensive knowledge of auditing practices, procedures and principles sufficient to interpret
and analyze complex concepts and apply them in innovative ways. Skills and knowledge must include an
extensive understanding of financial, operational, market and credit risk. Possess expert knowledge of
generally accepted auditing standards in the US.
• Facilitate a thorough understanding of and familiarity with the concept and practice of self-auditing institutions,
as in the COSO framework and control self-assessment approach for the review of reliable financial reporting,
operational efficiency and compliance.
• Possess the capability and desire to evaluate management’s effectiveness in XYZ’s resources and comply
with established corporate policies and procedures, including corporate governance, code of conduct
standards, and the business ethics and conduct policy.
• Prove experience in an internal audit function.
• Prove experience in (Insert Industry) (highly preferred). The candidate must have the ability to develop creative
approaches and solutions necessary to solve complex problems.
• Show strong written and verbal communication skills with experience interacting with and presenting to senior
management-level personnel.

KEY PERSONAL AND PROFESSIONAL CHARACTERISTICS

• The candidate must be an effective, highly professional finance professional that inspires confidence in
colleagues and within the broader organization.
• The candidate must have excellent interpersonal skills and will serve as a member of the senior management
team.
• The candidate must be an energetic, entrepreneurial self-starter capable of self-direction.
• The candidate must be driven to deliver quality results on time, with a high degree of integrity, ethically and
professionally.
• The candidate must be self-reliant and have strong initiative as well as possess solid business judgment.
• The candidate must be resourceful and strategic and possess excellent analytical abilities.

EDUCATION

This individual must have a bachelor’s degree in accounting or related finance field. Certified public accountant
(CPA), certified internal auditor (CIA) and MBA desirable.

COMPENSATION

A highly competitive package, including base salary, performance bonus and equity participation, will be designed
to fit the ideal candidate.

CONTACT INFORMATION

For more information, please contact the following:

(Insert Contact Information)

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