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The internal audit services required will include, but will not be limited to:
• preparation of an internal audit strategic plan for three years, to be revised annually. The plan should address the business and the related inherent risks, the information and control systems and environment and take into account management’s strategic outlook of the Hendre Group and its business plans;
• development of an annual internal audit plan and annual budget for approval by Finance Risk and Audit Committee each year;
• development of individual audit programs prior to the commencement of each audit assignment;
• conducting regular appraisal and risk analysis of the systems of internal control and fraud control strategies;
• performing financial, compliance and systems reviews and investigations;
• development and implementation of computer based audit procedures;
• evaluation of controls and data security of in house systems and any new systems implemented during the currency of the contract;
• undertaking efficiency audits;
• providing a final report on the outcome and findings after each assignment and provide appropriate recommendations for follow up actions;
• ensuring that line management is fully aware of the audit findings, implications to business operations and the subsequent recommendations;
• attending regular meetings with management, the Chair of the Finance Risk & Audit Committee and providing both written and oral reports at Board meetings (usually four per annum) on request.
Additional areas regarding which advice is most likely to be required will change from time to time depending on the risks facing Hendre at a particular point in time. Interested parties should demonstrate their breadth of specialist expertise available to them to assist on any relevant audit.
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