Closing Date 2023/07/07
Reference Number DBS230512-1
Job Title Independent Audit Manager [Centurion]
Job Type Classification Contract
Location - Town / City Centurion
Location - Province Gauteng
Location - Country South Africa
JOB DESCRIPTION
This position is an independent appraisal function which exists
1. For the purpose of establishing and implementing effective and efficient risk-based audit procedures which evaluate compliance by the Sellers when reporting their Quarterly achievements on the seven Economic Development Sub-elements identified in the Implementation Agreement.
2. To ensure that the Economic Development Penalty Regime is applied and that any deviations from policies are highlighted, reported on and recommendations made for corrective actions to improve compliance by the Sellers.
3. For the purpose of establishing andimplementing effective and efficient risk-based audit readiness procedures to evaluate the work done by the IPP Office Finance Department, and to provide feedback on the AFS in accordance with IFRS (4) To manage the accurate and timeous completion and execution of the Verification Compliance Assurance Reports of the Independent Audit Department so as to ensure that the targets in the IPP Office Performance Plan are met.
4. To provide written feedback to theSenior Management of the IPP Office and the Board of Directors of the Project Companies regarding the policies and procedures in place and the relevance of the evidence obtained during our audit
KEY RESPONSIBILITIES
Design, coordinate, plan, prioritise and direct the Verification Compliance Audit Process for the seven Economic Development Sub-elements of Schedule 2 of the Implementation Agreement.
1. Participate in the Annual Performance Plan (APP) strategic sessions, contribute to the APP outcomes and glean an understanding of the Strategy of the IPP Office.
Prepare a Budget for the Department addressing resources and travel and accommodation requirements.
2. Prepare a Stakeholder Engagement and Monitoring Plan using the Database of all the projects that have reached financial close, by Bid Window, by COD and use that to determine the order that the verification compliance reviews will be conducted.
Plan, prioritise and document the Framework for the Verification Compliance Audit Process to be followed for the selected Projects that have reached financial close.
3. Collaborate with the Contract Management Department and prepare a detailed Risk Matrix incorporating their concerns and specific areas that came to light after reviewing the Economic Development Plan and the Sellers performance to date against the Economic Development Matrix.
Develop a Verification Compliance Audit Plan which addresses the current and emerging risks highlighted in the Risk Matrix.
4. Create the Verification Compliance Audit Procedures for each of the 7 Economic Development Elements for both the Construction and Operations periods, ensuring that they focus on the key risk areas, and obtain signed off by the Head: Corporate Services.
Establish the procedures which guide the Independent Audit function to ensure they deliver a timeous Verification Compliance Assurance Report that is aligned with the IPP Office’s Annual Performance Plan.
1. Ensure development of timely comprehensive Audit Findings Reports in relation to any of the audit findings, together with recommendations as to how these should be addressed
2. Review and sign off the confidential Audit Findings Report
3. Prepare a timely Verification Compliance Assurance Report that reflects the outcome of the audit, highlights adverse findings, recommend risk aversion measures and provide an opinion on the accuracy of the reporting,.
4. Should the findings have an impact on the accuracy of the reported Economic Development submissions to the DMRE, submit these to the to the relevant stakeholders to effect the necessary adjustments.
5. Chair audit-related meetings to discuss the Verification
Compliance Assurance Reports with the all relevant stakeholders where findings are significant, before finalising and distributing the Reports to the Shareholders of the Independent Power Producer and the Head: IPP Office
Provide direction to the Contract Management, Development Oversight and Project Management Departments regarding improvements that should be made to the new RFP and Schedule 2 to the Implementation Agreement
1. Prepare a Quarterly report of Lessons learned for circulation to the relevant stakeholders .
2. Prepare a Quarterly Report on the Verification of the IPP Portfolio Performance for incorporation in the IPPPP Overview Quarterly Report
3. Prepare a Monthly Report for the Head: IPP Office regarding the progress made by the Independent Audit team towards the attainment of the target set in the Annual Performance Plan, highlight areas of concern and , feedback on any special investigations done both internally and externally.
Reduce potential compliance violations and penalties imposed by ensuring that effective systems and controls are put in place by the IPP for risk andcompliance management
1. On an Annual basis, after reviewing the Economic Development Penalty Assessment Report, assess the Economic Development Performance Measurement process to determine the penalties due for non-performance.
Prepare a Portfolio of Evidence for the Economic Development Performance Measurement process, to ensure it would sustain any interrogation from a third party.
2. Send written correspondence to the IPP regarding the Economic Development Performance Penalties together with an invoice
Establish the procedures for the Audit Readiness Audit Process to be carried out at the IPP Office.
1. Collaborate with the Finance Department and prepare a detailed Risk Matrixincorporating their concerns and specific areas they require to be focussed on.
2. Develop a Verification Compliance Audit Plan which addresses the current andemerging risks highlighted in the Risk Matrix.
3. Create the Verification Compliance Audit Procedures for the Income,
4. Expenditure andall Balance Sheet items
Direct the audit activities ensuring that all work done is documented, and that sufficient Verification Compliance Documentation is maintained to support findings should the AG query anything with the IPP Office.
People Enablement
1. Communicate a compelling vision to gain commitment to the strategy and objectives of the Independent Audit Department and the IPPO
Model high performance behaviour, in line with world class leadership principles, internally and externally
2. Apply your knowledge and expertise of the IPP procurement process, Trusts and the various methods of dealing with Socio-Economic Development Funds, and leveragethis in your leadership role with the team.
3. Create conducive conditions to enable team performance (i.e. team spirit, providing the right structure, involving the team in decision making)
Create conducive environment to afford individuals the space to contribute fully to the achievement of the strategy and objectives of the Independent Audit Department
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EXPERTISE & TECHNICAL COMPETENCIES
1. In-depth knowledge and understanding of Contract Law, the Companies Act and Directors’ Fiduciary duties.
2. Knowledge and understanding of the public sector – PFMA, Treasury regulations etc.
3. Knowledge of the BBBEE Act & the PPPFA
4. Knowledge of the King 1V Report on Corporate Governance
5. In-depth knowledge and understanding of the principles and practices of both Audit and Internal Audits – Sampling, Code of Professional Conduct, Quality Control, Reporting
6. In-depth knowledge and understanding of the REIPPP process
In-depth knowledge and understanding of the Economic Development obligations contained in Schedule 2 of the Implementation Agreement.
7. In-depth knowledge and understanding of the various agreements signed by the IPP on Financial
8. Close.(IA,PPA,DA)
9. Knowledge of various legislations related to the IPP Office – IRP2010, NERA, ERA
REQUIRED PERSONAL ATTRIBUTES
1. Assertive
2. Demonstrative Leadership
3. Deliver successful outcomes
4. Results Orientated
5. Investigative Nature
6. Motivational
7. Enthusiastic
8. Team Player
9. Deadline driven
10. Sound independent judgement
11. Exercise autonomy
12. Work well under pressure
Effective time management
13. Agile
14. Accountability
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