Internal Audit- Lead

Qualification: CA with 5 years of experience in Internal Audit and Internal Financials Controls Audit

Roles & Responsibilities

A. Internal Financial Controls (IFC) Testing & Compliance

1. Apply the

   IFC framework

   to identify, design, and document key controls across business processes.
2. Prepare and update

   Risk and Control Matrices (RACMs)

   in line with process changes and audit observations.
3. Perform

   design and operating effectiveness testing

   for all key controls, including remediation and retesting as per the audit plan.
4. Maintain comprehensive

   testing workpapers and documentation

   in prescribed formats to ensure audit readiness.
5. Identify and document

   control deficiencies

   , prepare a

   gap tracker

   , and coordinate with process owners / HODs to define action plans and closure timelines.
6. Monitor and update

   IFC control gap remediation

   and action plan implementation trackers to ensure timely resolution.
7. Assist in

   management certification of IFC effectiveness

   and provide required support for statutory audit and SOX-type reviews (if applicable).

B. Internal Audit & Management Assurance Reviews

1. Conduct

   end-to-end internal audits and assurance reviews

   covering operational, financial, and compliance processes.
2. Develop / update

   audit checklists, risk-based audit programs, and process review templates

   before commencement of each audit.
3. Conduct

   process walkthroughs

   , identify control design gaps, and assess the adequacy of risk mitigation measures.
4. Coordinate and manage

   internal/external audit engagements

   , ensuring smooth execution, timely data availability, and issue resolution.
5. Review audit progress and deliverables, including

   weekly/bi-weekly review meetings

   with audit partners or process owners.
6. Review and finalize

   draft audit reports

   , ensuring comprehensive coverage, factual accuracy, and actionable recommendations.
7. Participate in

   audit closure meetings

   , ensuring management responses include detailed action plans and clear implementation timelines.
8. Track and monitor

   implementation of audit recommendations

   through structured follow-ups and validation reviews.

C. Standard Operating Procedures (SOP) Development & Governance

1. Collaborate with process owners to

   draft, review, and standardize Standard Operating Procedures (SOPs)

   for critical business processes.
2. Ensure SOPs clearly articulate

   process objectives, roles & responsibilities, control points, escalation mechanisms, and documentation requirements.

3. Align SOPs with IFC control frameworks, audit findings, and industry best practices.
4. Review existing SOPs periodically to ensure they remain

   current, compliant, and aligned with policy or system changes.

5. Facilitate

   training and awareness sessions

   with process teams to communicate new or revised SOPs and embed control awareness.
6. Maintain a

   central SOP repository

   and ensure proper version control and authorization procedures.
7. Support management in creating

   process flowcharts and RACI matrices

   to enhance process transparency and accountability.

D. Audit Issue Follow-up & Continuous Improvement

1. Track

   open audit issues and control gaps

   , ensuring closure within the committed timelines.
2. Perform

   validation testing

   post-remediation and formally close gaps after confirming effectiveness.
3. Prepare

   periodic MIS reports and dashboards

   highlighting IFC status, audit progress, and issue closure trends.
4. Identify opportunities to

   enhance audit and IFC efficiency

   through automation, analytics, or process redesign.
5. Support

   continuous improvement initiatives

   by recommending enhancements to control design, testing methodology, and documentation standards.

E. Desired Skills & Competencies

• Strong understanding of

  Internal Audit Standards

  ,

  COSO / IFC framework

  , and

  risk management principles

  .
• Experience in

  process documentation and SOP drafting

  with attention to detail and control integration.
• Good knowledge of

  Business,

  financial, operational, and IT processes

  .
• Strong analytical and report-writing skills with the ability to communicate effectively with senior management.
• Proficiency in

  MS Excel, PowerPoint, and audit/data analytics tools

  (e.g., ACL, IDEA, Power BI).
• Ability to manage multiple reviews simultaneously with

  strong project management and stakeholder engagement skills.Role & responsibilities