Job Description

Job Description/Requirements

5. Internal Audit Committee
NUMBER OF VACANCIES: TWO (2)
TERMS OF SERVICE: THREE YEAR CONTRACT WHICH MAY BE RENEWED FOR ONE TERM ONLY.
REMUNERATION: THIS IS NOT A SALARIED POSITION; ALLOWANCES APPLICABLE SHALL BE DETERMINED BY THE SALARIES AND REMUNERATION COMMISSION.

Pursuant to the Public Finance Management (PFM) Act 2012 section 155 (5) and PFM Regulation no. 167(1), The County Government of Laikipia is inviting applications from interested persons to fill the vacancies available in the Audit Committee whose main function shall be to support the county in matters which include; Risk, control and governance and associated assurance; Follow up on the implementation of the recommendations of internal and external auditors among others, drive the assessment of the performance of the head of internal audit, Examine internal and external audit reports and recommendations after management response to ensure action is taken, There should be in place adequate mechanisms of enabling the audit committee facilitate adequate disposal of all PAC/PIC recommendations. This is done by following up to ensure positive action is taken, communicating with the internal and external auditors.
In its overseeing role, the committee should focus on: The changing business environment; Changing financial reporting requirement; Audit findings, including comments governance, risk and controls; Proposed audit scope and audit coverage and approaches with respect to complex, high, risks & judgment areas and Management response to specific audit recommendations.

Roles
1. The audit committee plays a key role with respect to the integrity of the entity's financial information, its system of governance, risk and internal controls, and the legal and ethical conduct of management and employees.
2. Depending upon circumstances affecting an entity, the functions undertaken by an audit committee will generally encompass the following areas:
➢ Evaluating whether processes are in place to address key roles and responsibilities in relation to risk management.
➢ Evaluating the adequacy of the control environment to provide reasonable assurance that the systems of internal control are of a high standard and functioning as intended.
➢ Performing an independent review of the financial statements to ensure the integrity and transparency of the financial reporting process.
➢ Monitoring the effectiveness of an entity's performance information and compliance with the performance management framework and performance reporting requirements.
➢ Evaluating the quality of the internal audit function, particularly in the areas of planning, monitoring and reporting.
➢ Engaging with external audit and assessing the adequacy of management response to issues identified by audit.
➢ Reviewing the effectiveness of how the entity monitors compliance with relevant legislative and regulatory requirements and promotes a culture committed to lawful and ethical behavior

Responsibilities
1. Financial reporting
The audit committee should review, and report to the board and executive management on, the significant financial reporting issues and judgments made in connection with the preparation of the entity's financial statements (having regard to matters communicated to it by the auditor), interim reports, preliminary announcements and related formal statements.
2. It is management's, not the audit committee's responsibility to prepare complete and accurate financial statements and disclosures in accordance with financial reporting standards and applicable rules and regulations. However, the audit committee should consider significant accounting policies, any changes to them and any significant estimates and judgments. The management should inform the audit committee of the methods used to account for significant or unusual transactions where the accounting treatment is open to different approaches. Taking into account the external auditor's view, the audit committee should consider whether the entity has adopted appropriate accounting policies and, where necessary, made appropriate estimates and judgments.
3. The audit committee should review the clarity and completeness of disclosures in the financial statements and consider whether the disclosures made are set properly in context.
4. Where, following its review, the audit committee is not satisfied with any aspect of the proposed financial reporting by the entity, it shall report its views to the board and executive management.
5. The audit committee should review related information presented with the financial statements, including the business review, and corporate governance statements relating to the audit and to risk management. Similarly, where board approval is required for other statements containing financial information (for example, summary financial statements, significant financial returns to regulators and release of price sensitive information), whenever practicable the audit committee should review such statements first (without being inconsistent with any requirement for prompt reporting under the Listing Rules).

Requirements for appointment;
1. Possess a degree from a recognized university in any field that is relevant to the operations of the County Government; a postgraduate degree e.g. MBA will be an added advantage.
2. At least 5 years' experience and conversant with Internal Audit and Risk Management matters.
3. Must not be past or present employee of the County Government of Laikipia, and shall not have served as an employee or agent of a business organization which has carried out any business with the County Government of Laikipia in the last two years;
4. Have a good understanding of County Government operation, financial reporting or auditing;
5. Have a good understanding of the objects, principles and functions of the County Government.
6. Be a highly respectable and experienced person, who possesses strong interpersonal skills. and;
7. Be a person with excellent working knowledge of an audit committee's functions and risk management frameworks;
8. Compliance with the requirements of Chapter six of the Constitution;
9. Be independent and proactive

Applications complete with a detailed resume, a copy of National I.D, copies of academic and professional certificates and other testimonials including the letter of promotion to the current substantive grade should be emailed to:careers@laikipia.go.ke

To be considered your application must be received on or before 5th October,2021.

Note:
a) Any communication from the County Public Service Board shall be through Email: cpsb@laikipia.go.ke or Cell phone No: 0715052052
b) The County Public Service Board does not charge for recruitment. Any request for payment should be reported to the Police or the County Public Service Board on the number: 0715052052
c) The County Government of Laikipia is an equal opportunity employer.
d) Persons living with disabilities are encouraged to apply.
e) Only shortlisted candidates will be contacted by the Board.

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