At County Sacco, we value integrity, professionalism, and a member-focused approach. We believe in empowering our employees and providing opportunities for career growth and development. As an Internal Auditor, you will be at the heart of our governance and compliance framework, ensuring that our financial statements are credible, our internal control systems are robust, and our operations are in full compliance with legal and regulatory requirements.
Position: Internal Auditor
Job Summary
The primary function of this position is to ensure that all Sacco operations comply with existing legislations, Sacco Rules, Regulations, and Procedures. The role carries the overall responsibility of managing the Sacco’s Internal Audit function, providing an independent and objective appraisal of the Sacco’s financial, operational, and internal control activities.
Key Duties and Responsibilities
I. Credibility and Integrity of Financial Statements
- Compliance with Financial Reporting Standards: Ensure that the financial statements of the Sacco are prepared in accordance with IFRS, IAS, and the Sacco Societies Act, including full compliance with disclosure requirements.
- Loan Documentation and Awarding: Verify that all loans are well-documented and that the loan awarding process is professional, transparent, and follows the established procedures.
- Investment Analysis: Review the Sacco’s investments to ensure compliance with the investment policy, evaluate the safety of investments, and confirm they adhere to prudential standards while benefiting the Sacco.
- Financial Information Integrity: Confirm that the information in the financial statements is complete and reliable for effective decision-making.
II. Laws and Regulations
- Legal Compliance: Ensure that all Sacco activities comply with the existing laws and regulations, including the Sacco Act, CBK Act, Labour Laws, NSSF Act, and other relevant legal frameworks.
- Policy and Procedure Compliance: Verify compliance with internal policies, procedures, by-laws, and other statutory requirements.
III. Internal Control Systems
- Quality of Controls: Monitor and evaluate the quality of internal controls, identify weaknesses, and recommend improvements.
- Operational and Financial Procedures: Assess the adequacy and effectiveness of internal control systems governing financial and operational procedures.
- Organizational Structure Review: Confirm that the organization chart is well-defined and the flow of authority is documented for accountability and responsibility tracking.
- Segregation of Duties: Analyze the accounting system to ensure proper segregation of duties, preventing any individual from originating and completing transactions alone.
- Asset Documentation and Safeguarding: Ensure all Sacco assets are documented, safeguarded, and properly maintained.
- Departmental Policy Compliance: Confirm that every department operates under a complete and functional policy, which is adhered to in daily operations.
- Fixed Assets Verification: Safeguard fixed assets by verifying their physical condition, proper valuation, depreciation policies, and adequate insurance coverage.
IV. Governance
- Board Advisory Role: Assist the Board in governance by advising on audit, risk, and control issues.
- Professional Culture Promotion: Promote a professional and ethical culture within the Sacco, maintaining a member-focused approach.
- Code of Conduct Enforcement: Ensure the Sacco’s code of conduct is well-established and followed.
- Strategic Direction Support: Support the Board of Directors in defining the Sacco’s strategic direction.
- External Auditor Liaison: Act as the link between the external auditor and the Sacco’s supervisory committee.
V. Fraud Detection
- Fraud Detection and Prevention: Implement fraud detection mechanisms in audit programs, investigate allegations of fraud, and assess the effectiveness of fraud prevention controls.
- Economic Efficiency Review: Evaluate the economic efficiency and effectiveness in the utilization of the Sacco’s resources to achieve its objectives.
VI. Reports and Reporting
- Audit Reporting: Prepare periodic audit reports for the Board, ensuring transparency and accountability.
- Supervisory Committee Role: Serve as the secretary of the supervisory committee, maintaining thorough records and supporting documentation for audits and other assignments.
- Risk Assessment: Identify and qualify key business risks, estimate the probability of occurrences, and evaluate their impact on the Sacco, providing actionable recommendations to the Executive Committee.
Qualifications
Education:
- Bachelor of Commerce Degree (Accounting or Finance Option).
- Fully qualified accountant under the Accountants Act (CPA (K), ACCA) and registered with ICPAK.
- Membership in a professional body.
Experience:
- Minimum of 5 years audit experience in a busy organization, with at least 3 years in a Sacco environment.
Why You Should Apply
Joining County Sacco Society Ltd means becoming part of a dynamic team dedicated to excellence and integrity. As an Internal Auditor, you will have the opportunity to influence key financial and operational decisions, enhance governance practices, and contribute to the strategic direction of the organization. You will also play a vital role in fraud detection and prevention, ensuring the security and efficiency of our operations.
How to Apply
If you are a qualified candidate seeking a challenging and rewarding role, we invite you to apply through our website at:
www.countysacco.com/careers
Application Deadline: 14th March 2025
Address Letters to:
THE HUMAN RESOURCE MANAGER
COUNTY SACCO SOCIETY LTD
P.O BOX 21-60103
RUNYENJES-EMBU
All applications should be submitted through our website. Only shortlisted candidates will be contacted.
Take the next step in your career and join us in making a difference in the community by ensuring the integrity and compliance of Sacco operations. Apply today and become part of the County Sacco Society Ltd family!
