KEY RESPONSIBILITIES

• Audit Planning and Execution:
  • Support in the developing and implementing annual audit plans based on risk assessments, industry standards, and regulatory requirements.
  • Conduct financial, operational, and compliance audits to assess the effectiveness of internal controls and adherence to company policies and procedures.
  • Ensure audits are conducted in accordance with audit methodology and in line with local and international standards (e.g., IIA, IPPF).
  • Perform risk-based audits, ensuring a focus on key areas such as revenue leakages, inventory management, procurement, and regulatory compliance.
• Risk Assessment and Internal Control Evaluation:
  • Evaluate the adequacy and effectiveness of internal controls and processes, identifying weaknesses and potential risks.
  • Provide recommendations to mitigate risks, improve operational efficiency, and ensure compliance with regulatory requirements (e.g., NPA, NUPRC, NMDPRA, NIMASA etc).
  • Monitor key performance indicators (KPIs) related to risk management and internal controls.
• Reporting and Communication:
  • Prepare detailed audit reports highlighting findings, risks, and recommendations for management and stakeholders.
  • Communicate audit findings and provide actionable recommendations to management in a clear and concise manner.
  • Follow up on management’s corrective actions to ensure implementation of audit recommendations.
• Compliance and Regulatory Audits:
  • Ensure the company adheres to Nigerian laws and regulations specific to the downstream oil and gas sector.
  • Conduct compliance audits related to the Petroleum Industry Act (PIA) and other industry-specific regulations.
  • Coordinate with regulatory authorities during audits and ensure that all statutory requirements are met.
• Fraud Detection and Prevention:
  • Identify and investigate instances of fraud, corruption, and financial mismanagement.
  • Develop internal controls to prevent fraud and ensure transparency in financial transactions and reporting.
  • Provide guidance to management on fraud risk management and mitigation strategies.
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