Bhutan Trust Fund for Environmental Conservation
Position description for Internal Auditor (IA)
Position Level: O II
Pay scale: Nu. 22,744 – 1,137 – 45,484
Housing Allowance: Fixed 20% of minimum pay: Nu. 4,549
Duration: Regular
Reports to: Governance & Audit Committee (GAC)
A formal process of internal audit shall be undertaken on an annual basis (or more frequently, if required by the GAC), for improved accountability of BTFEC. The internal audits will cover the management procedures (finance and operations) for the Secretariat and the Grantees, for all activities under Core Funding and Non-Core Funding, in order to evaluate and improve the effectiveness of risk management, control and governance processes in BTFEC, by systematically reviewing systems and operations. This will be based on the mandate and strategic needs of BTFEC.
The Internal Auditor will provide the GAC timely assurance that:
(a) the implementation of project activities by BTFEC and Grantee Institutions are being carried out in adherence to the provisions of Royal Charter, Operations Manual, Program Operational Norms and RGoB, FRR 2001 or other applicable Laws/documents;
(b) the financial reports being submitted by the BTFEC and Grantee Institutions are in agreement with the books of account.
Under the direct supervision of the GAC, the Internal Auditor will be responsible for:
· providing internal audit services in accordance to the Standards of RGoB Internal Audit Manual,
· assessment of the adequacy of BTFEC and projects’ financial management system, including internal controls. This would include aspects such as adequacy and effectiveness of accounting, financial, procurement and operational control; level of compliance with various documents.
· assessment of management procedures (finance and operations) of BTFEC and Grantee Institutions, in order to evaluate and improve the effectiveness of risk management, control and governess processes in BTFEC, by reviewing systems and operations that is based on the mandate and strategic needs of BTFEC.
Primary Functions/Responsibilities
1. Reviewing relevant documentation, to understand the mandate and strategic needs of BTFEC, and its current systems and procedures;
2. Identifying how well risks are managed;
3. Reviewing the systems and procedures in place and reviewing if these are effective;
4. Identifying potential improvements in the systems and procedures;
5. Reviewing the compliance (of the Secretariat and the Grantees) with the systems and procedures, including the Secretariat’s monitoring of Grantees;
6. Reporting formally to the GAC, including work undertaken, findings and recommendations. This will include an ‘exit discussion’ with the GAC, where the draft findings and recommendations are discussed and initial responses of the GAC given to the internal auditor. The internal auditor will then complete the report, obtain and incorporate the formal management responses from the GAC to the findings and recommendations, and submit the final report to the Management Board.
7. That all BTFEC financed projects are used in accordance with the Grant Agreement with due attention to economy and efficiency and only for the purposes for which the financing was provided; and that all procurements are conducted in accordance with the BTFEC procurement guidelines and approved procurement plan;
8. Fund flows are adequate and timely and with respect to Grantee Institutions are in a timely manner and not used for non-project activities;
9. That all necessary supporting documents, contracts, records, and accounts have been kept in respect of all project expenditures reported by the implementing units, and that clear linkages exist between that accounting records and accounts books and the monthly/ quarterly financial reports submitted by Grantee Institutions to BTFEC;
10. That adequate records are maintained regarding the assets created and assets acquired by the project, including details of cost, identification and location of assets; and that physical verification of assets are being done;
11. Work in close collaboration with internal staff (Program, Finance and Procurement Divisions) and external partners (project beneficiaries and implementers) to strengthen the quality and consistency of monitoring and evaluation activities in the field.
12. Develop annual work plan and budget to deliver the internal audit services in confirming to the above tasks
The GAC will review the findings and recommendations of the internal auditor, as per the final internal audit report, and agree with the Secretariat on a plan of action to take up agreed findings and recommendations.
Aside from the formal internal audit process, the Internal Auditor in close collaboration with the Director and three divisions will strengthen accountability through the following:
(i) Implementation of internal controls within BTFEC;
(ii) Monitoring of Grantees.
Qualifications/Experience:
1. Advanced degree in accounting or related business field, such as finance or management from a globally reputed university
2. Specialized training in financial management from a credentialed institution
3. Minimum two years’ practical experience in internal audit on governance, risk management and control system;
Competencies/Skills:
1. Good interpersonal and communication skills with various socio-economic population.
2. Strong oral and written skills in Dzongkha and English.
3. Good analytical skills.
4. Proven skills in critical thinking, assessment and analysis.
5. Demonstrated ability in report writing and presentation.
6. Good knowledge of computer applications for information collection, management and dissemination.
7. Ability to undertake regular field visits and interact with different stakeholders;
8. Display cultural, gender, religion, race, nationality and age sensitivity and adaptability.
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