Internal Audit Officer at Tony Elumelu Foundation (TEF)

The Tony Elumelu Foundation (TEF), established in 2010, is an African private-sector-led philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

We are recruiting to fill the position below:

Job Title: Internal Audit Officer

Location: Lagos
Job Type: Full Time

Job Description

• The Internal Audit Officer is responsible for executing, and reporting on financial, operational, and compliance audits within the Foundation.
• This role ensures the effectiveness of internal controls, risk management, and governance frameworks, supporting management with risk insights and recommendations for process improvements.

Key Responsibilities
Risk-Based Audit Planning & Execution:

• Develop and implement annual risk-based audit plans for TEF’s operations and projects.
• Support field audits on donor-funded projects to assess fund utilization and compliance.
• Identify control deficiencies and recommend corrective actions to enhance governance.

Compliance & Risk Management:

• Assess compliance with Foundation policies, donor regulations, and local laws.
• Perform whistleblower and fraud investigations, documenting findings and risks.
• Evaluate enterprise risk management (ERM) processes and recommend enhancements.

Financial & Operational Audits:

• Perform audits of financial records, procurement processes, and grant disbursements.
• Analyze financial statements to detect misstatements, anomalies, and fraud risks.
• Review program effectiveness and operational efficiency of TEF projects.

Reporting & Stakeholder Engagement:

• Prepare audit reports with key observations, risks, and recommendations.
• Collaborate with program teams and external auditors on risk and compliance issues.

Continuous Improvement & Training:

• Train staff on internal controls, fraud risk management, and governance principles.
• Stay updated on emerging risks, audit methodologies, and technology trends.

Job Requirements

• Bachelor’s Degree in Accounting, Finance, Business Administration, or Risk Management.
• ACA/ACCA/CISA, or equivalent professional certification required and mandatory.
• Minimum of 4-7 years of experience in internal audit, financial control, and risk management.
• Experience in foundations, donor-funded NGOs, or international organizations is an added advantage.
• Strong knowledge of IIA audit standards, COSO framework, and data analytics in auditing.
• Ability to conduct root cause analysis and develop practical risk mitigation strategies.
• Advanced proficiency in audit tools, Excel, and enterprise risk management systems.

Application Closing Date
16th January, 2026.