Internal Audit Function Management
Develop and manage the Internal Audit function
Type
Functional
Competency Area
Internal Audit
Levels
Manage staff in engagement team
Deploy staff with relevant competencies to achieve engagement objectives
Play a key role in annual audit planning processes
Delegate tasks in a constructive and supportive manner
Coach staff to enhance competence and professional development
Determine the relevant continuing rofessional development necessary to keep staff effective at work
Conduct effective performance appraisals of internal audit teams against key performance indicators
Manage staff and internal audit operations
Establish internal audit (IA) audit charter, IA terms of reference and service delivery approach
Review and adjust the IA team skills mix and diversity according to organisation's objectives and risks
Lead and assess annual risk analysis to formulate risk-based audit plans
Develop and implement plans for professional and career development of IA team
Determine adequate budgets to support IA planned activities
Establish clear performance standards for internal auditors and the IA function
Establish appraisal systems and conduct performance appraisal of IA teams
Establish recruitment systems that result in competent performers being hired
Manage board, audit committees and senior management on internal audit matters
Manage talent, assess effectiveness of policies and procedures of Internal Audit (IA) function
Work with stakeholders to formulate strategies for internal capability development
Manage workplace culture and the effect of culture on staff morale
Drive talent development and retention strategy within the department
Review policies and procedures in the IA function for effectiveness
Identify areas of improvement in the IA