Head - Internal Audit at a Fast-food Company - Peridot Forte Solutions Consulting Limited

Peridot Forte Solutions Consulting Limited - Our client, a Fast-food Company is recruiting to fill the position below:

Job Title: Head - Internal Audit

Location: Lagos
Employment Type: Full-time

Job Brief

• To work closely with the Financial Controller to evaluate and improve the effectiveness of risk management, control, and governance processes so as to provide the Board of Directors with a level of confidence in the probity and rigor of operations and systems.

Roles and Responsibilities

• Organize and control the Internal Audit functions and staff in all outlets and Head office.
• To review the company’s existing internal control system and suggest changes/improvements that are considered necessary for the consideration of the management
• To establish risk-based audit plans to determine the priorities of the internal audit activity within SS goals and objectives such audit plans shall be based on periodic risk assessment and input of senior management.
• Review audit program prepared by subordinates before the commencement of each audit assignment
• To safeguard the respective outlets and Head Office assets through the sustenance of the quality and integrity of the company’s internal control system by ensuring that transactions are properly authorized and financial statements are from reliable records in line with the relevant accounting standards and company’s accounting procedures.
• Fixed assets management for Head office, business units such as cake factory, central warehouse, bread factory, and all outlets
• Review of fixed assets register and occasional fixed assets verification
• Procedure audit on Purchasing and Stores System
• Material utilization, production, and quality assurance audit
• Compliance audit on financial and administrative authorization procedures audit through the post-payment audit system
• Critical examination of product costing, sales invoicing, and audit of revenue accounts
• Reconciliation and audit of account payables (Trade creditors)
• Reconciliation and audit of account receivables (Trade debtors) such as Jumia, Midwestern, Petrobas, Zenith, etc.
• Monthly reconciliation of staff advances and loans
• To audit the company’s treasury activities, bank reconciliation statement and review bank interest charges using current bankers’ tariff
• To monitor Restaurant accounting systems and control to ensure compliance and accountability.
• Daily reconciliation of cake and bread sales stocks and proceeds
• Audit inventory activities in all outlets, warehouse, cake, FPS, and bread sections
• To audit accounting activities in all outlets for monthly financial reporting.
• Audit accounting operations of the factory, kitchen production accounts (W.I.P), finished goods (cost of sales).
• Supervising HO representation for monthly stock-taking of raw materials, W.I.P, packaging materials, and finished goods.
• Audit the accuracy of store bin cards to physical stocks before the commencement of stock-taking.
• Audit of expected production yield with materials consumption, report and investigate variances for management action.
• Audit of posting of store requisition notes for all outlets to the stock ledger.
• Daily and monthly audit of diesel and gas consumption for all outlets.
• Overseeing reconciliation and audit of POS transactions and print out for all outlets by the audit team
• Insurance policy and premium payment audit
• Audit of marketing activities and expenses
• Review of Monthly management accounts
• Checking the audit trail and review of trial balances to confirm the correctness of data entry by accounts section
• To prepare and update monthly audit recommendation checklists as to follow up on the implementation of past audits
• Establish a follow-up process to monitor and ensure management actions have been effectively implemented.

Qualifications, Skills and Competences

• First Degree in Accounting, Finance or any related field.
• 7 years proven work experience in Financial Auditing.

Application Closing Date
15th July, 2021.