Terms of Reference
Background
The University of Hargeisa (UoH) is the largest public university in Somaliland. The University of Hargeisa is now the biggest and the leading educational higher institution in Somaliland with ten colleges, two schools, and one research center.
Mission
The Mission of the internal audit is to provide the senior management of the University and the Board of Trustees with an independent, objective assurance and consulting service designed to add value and improve the University’s operations. To help the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Scope of Work
The scope of Internal Audit covers all the financial and other management control systems, identified by the audit needs assessment process. It includes all the activities in which the University has a financial interest, including those funded by Donors. This includes all the University’s operations, resources, staff, services, and responsibilities to other bodies although does not extend to the assessment of the academic process.
The scope includes reporting of its responsibilities, exercising due care, diligence, and skill in relation to the oversight of the development, maintenance, implementation and review of the internal audit work programmes and audit plans, and; review and evaluation of the financial management and internal control systems.
Objectives
Internal Auditor employs a risk-based systematic and disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes by assessing the:
- Alignment of organizational objectives with the University’s mission;
- Identification, evaluation and management of business risks;
- Soundness, adequacy and application of the internal control systems;
- Reliability and integrity of financial and operational information;
- Effectiveness and efficiency of operations;
- Safeguarding assets from fraud, irregularity or corruption, and
- Compliance with laws, regulations, contracts and established policies, procedures, and good practice.
Key Tasks, Duties and Responsibilities
Audit and Risk Management
- Agreeing a long-term audit strategy with the President of the University and the Board of Trustees, based upon an audit needs assessment of all University activities;
- Agreeing a risk-based annual audit plan with the President and communicating the agreed plan to senior management of the University and the Board of Trustees as appropriate;
- Carrying out the agreed work in line with appropriate professional standards;
- Documenting audit procedures, developing criteria, reviewing and analyzing evidence, and documenting processes and procedures;
- Identifying, developing, and documenting audit issues and recommendations.
- Providing assurances, and opinions and making recommendations to improve processes and systems where appropriate;
- Following up recommendations made to evaluate action taken;
- Reporting to the President of the University and the Board of Trustees any significant business risks, serious control weaknesses, significant fraud or other major control breakdown;
- Reporting to the Board of Trustees for resolution, of any specific cases where the Internal Auditor believes senior management may have accepted a level of residual risk that may be unacceptable to the University;
- Complying with requests for information from the President, Board of Trustees, ExternalAudit or/and Management;
- Liaising with External Audit;
- Offering consulting services of an advisory nature without assuming management responsibility or jeopardizing achievement of the audit plan;
- Developing and maintaining a quality assurance and improvement program including internal and external assessments and providing performance measures to demonstrate the effectiveness of the Internal Audit service;
- Maintaining adequate & appropriate training and professional development;
- Producing a quarterly report for the Board, giving an opinion of theUniversity’sarrangements for risk management, control and governance;
- Helping to keep the President and Board of Trustees informed of perceived best practices;
- Internal Auditor may conduct any special reviews or consulting activities requested by the President and Board of Trustees, provided such work does not compromise its objectivity or independence.
Financial Review Management
- Assess accounting and financial management policies, implementation and recommend to the President of the University for approval, any changes to accounting and financial management policies;
- Reviewing the internal control framework and making recommendations to consistently ensure its compliance. This includes the assessment of whether there are adequate controls over special or complex transactions; and
- Review the propriety of all transactions between the University and related parties and assessment of their propriety.
Professional Qualifications and Requirements
The applicants should have the following desired qualifications and requirements:
- Master’s degree in Accounting or Finance. A CPA, CIPFA, or ACCA would be an added advantage.
- Relevant professional certification in Audit or risk.
- Minimum of five years of experience at a management level in the internal control/audit function of a similar organization.
- Demonstrable track record, knowledge, and experience working with the various Boards in private and public institutions.
- Have excellent writing and research skills.
- Have excellent communication and project delivery skills.
- Advanced computer skills in MS Office, accounting software, and databases
Application Guidelines
Interested applicants are required to send application letter, copies of relevant certificates and curriculum vitae with two current references and recommendation letters to director.hr@uoh.edu.so and copy to must.axmed@gmail.com. Please state in the subject line “Internal Auditor”. The deadline for the application is 17 November 2023. Only shortlisted candidates will be contacted.