DIRECTOR OF INTERNAL AUDIT

JOB DESCRIPTION

REPORTING RELATIONSHIP

Reports directly to the chairman of the audit committee with dotted line. Has 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 will be 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, insure 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.

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 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 in a successful manner.
Specifically, he/she should meet the following specific criteria:
 A minimum of five years 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.
 Comprehensive knowledge of auditing practices, procedures and principles, sufficient to interpret and analyze
complex concepts and apply them in innovative ways. Skills and knowledge should include an extensive
understanding of financial, operational, market and credit risk. Should have expert knowledge of generally
accepted auditing standards in the US.
 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.
 Capability and desire to evaluate the effectiveness of management in their stewardship of XYZ’s resources
and their compliance with established corporate policy and procedures, including corporate governance, code
of conduct standards, and the business ethics and conduct policy.
 Experience in an internal audit function preferred.
 Experience in (Insert Industry) highly preferred. Candidate should have the ability to develop creative
approaches and solutions necessary to solve complex problems.
 Strong written and verbal communications skills with experience interacting with and presenting to senior
management-level personnel.

KEY PERSONAL AND PROFESSIONAL CHARACTERISTICS

 The director of internal audit 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 should be an energetic, entrepreneurial self-starter capable of self-direction.
 He/she should be driven to deliver quality results on time, with a high degree of integrity, in a highly ethical
and professional manner.
 The candidate should be self-reliant and have strong initiative as well as possess solid business judgment.
 He/she must be resourceful and strategic and possess excellent analytical abilities.

EDUCATION

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.

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 CONTACT INFORMATION

For more information, please contact the following:

(Insert Contact Information)

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