• Application Deadline:
• Position: Internal Auditor



• Job Type Full Time



• Qualification BA/BSc/HND



• Experience 2 - 3 years



• Location Lagos




• Job Field Finance / Accounting / Audit 
  
  

Position Overview

• The Internal Auditor is responsible for evaluating the company's financial and operational activities, with a strong focus on inventory management, payments processing, and overall financial controls. 


• This position plays a key role in assessing risk, identifying inefficiencies or fraudulent activities, and ensuring compliance with company policies, regulations, and all accounting standards.

Key Responsibilities

Audit Planning & Execution:

• Develop and implement risk-based audit plans, especially focusing on areas related to inventory control, procurement, payments, and financial reporting.


• Conduct detailed audits of the company’s inventory systems, including inventory valuation, stock movements, and warehouse management.


• Review and test the adequacy and effectiveness of internal controls surrounding accounts payable, vendor payments, and disbursements.


• Analyze payment processes to ensure compliance with company policies, preventing unauthorized payments, fraud, or mismanagement.


• Perform regular audits of financial records and systems to verify accuracy, completeness, and compliance with internal policies and regulatory standards.

Inventory Audits:

• Examine inventory transactions, including purchase orders, receiving, sales, and transfers, to ensure proper documentation and approval.


• Monitor physical inventory counts and perform cycle counts to detect discrepancies or theft.


• Assess inventory turnover rates and obsolete inventory write-offs to ensure accurate valuation of stock.


• Work with logistics and warehouse teams to verify inventory is stored and handled according to company protocols, reducing risks of shrinkage or loss.

Payment & Financial Controls:

• Evaluate payment processing systems, ensuring that payments are made in accordance with vendor agreements and company procedures.


• Review and test segregation of duties for payment authorizations and approvals to reduce risks of fraud.


• Conduct sampling of transactions and vendor invoices to verify that proper documentation, approvals, and reconciliations are in place.


• Ensure that payments, invoices, and accounting records comply with corporate accounting policies, tax regulations, and any other legal standards.

Risk Management & Compliance:

• Identify potential financial risks, fraud, or inefficiencies within inventory and payment systems, and recommend corrective actions.


• Maintain an in-depth understanding of relevant industry regulations, standards, and compliance requirements and the requirements of the international accounting standards.


• Advise on potential areas for operational improvement, cost-saving measures, and best practices.


• Ensure that corrective actions are taken when audit findings point to non-compliance or weaknesses in internal controls.

Reporting & Documentation:

• Prepare clear and concise audit reports outlining audit findings, recommendations for improvement, and corrective actions taken by management.


• Communicate audit findings to relevant stakeholders, including senior management, department heads, and external auditors.


• Document audit procedures, testing, and conclusions according to the company’s audit methodology and regulatory standards.

Collaboration and Training:

• Work closely with other departments (e.g., finance, accounting, operations) to understand and assess the effectiveness of existing controls.


• Provide training to employees regarding compliance with inventory and payment processes, fostering a culture of accountability and internal control awareness.


• Collaborate with external auditors and regulators to facilitate audits and ensure all necessary financial disclosures are accurate.

Continuous Improvement:

• Stay informed about best practices, technological advancements, and industry trends related to auditing, inventory management, and payments.


• Propose innovative methods for streamlining audit processes and increasing efficiency, leveraging data analytics or automation where applicable.

Required Qualifications

• Bachelor’s Degree in Accounting, Finance, Business Administration, or a related field.


• Strong understanding of financial accounting principles and internal controls, especially as they relate to inventory management, payment systems and financial reporting.


• 2 - 3 years of relevant audit experience in a manufacturing, retail, or distribution company that deals with complex inventory systems and payment processing.


• Proficiency in accounting software and Microsoft Excel would be a plus


• Skills and Competencies:


• Analytical thinking and attention to detail, with the ability to identify discrepancies and weaknesses in complex systems.


• Strong written and verbal communication skills, including the ability to present findings and recommendations to senior management.


• Strong organizational skills, with the ability to manage multiple projects and deadlines.


• Ability to work independently and as part of a team, displaying initiative and a proactive attitude.


• High ethical standards and integrity, with a commitment to maintaining confidentiality.