Internal Audit

Role Overview

This role focuses on safeguarding the financial integrity and operational soundness of a SACCO by planning and executing a full audit cycle. Day to day, you will examine financial records, internal controls, and compliance with laws and regulations, then report findings and recommendations to management and the supervisory committee. Your work is essential for identifying risks, preventing fraud, and ensuring the SACCO’s resources are used effectively and transparently.

Key Responsibilities

• Design an annual audit schedule and execute routine audits according to that plan, adjusting as needed for emerging risks.
• Evaluate the design and effectiveness of internal controls, policies, and procedures across all SACCO operations, including credit, investments, fixed assets, and accounting systems.
• Check compliance with the SACCO Societies Act, IFRS, IAS, prudential standards, internal policies, and other applicable regulations.
• Examine financial statements, transactions, balances, documentation, and authorization processes to confirm accuracy, completeness, and adherence to requirements.
• Identify control weaknesses, operational loopholes, suspicious transactions, and fraud indicators, then recommend practical corrective actions.
• Prepare clear and timely audit reports with actionable recommendations for management, the supervisory committee, and other governance bodies.
• Maintain and update the SACCO risk register, support risk mitigation efforts, and assist in refining the compliance framework.
• Conduct special investigations or forensic audits as directed by management or relevant committees, and provide secretarial and technical support to the supervisory committee in coordination with the CEO.

Requirements & Qualifications

• Bachelor’s degree in Accounting, Finance, Commerce, or a closely related field.
• CPA (K) certification is mandatory.
• Membership with ICPAK and/or the Institute of Internal Auditors (IIA) is highly desirable.
• At least two years of relevant audit experience, ideally within a SACCO or other financial institution.
• Familiarity with Microsoft Navision is an added advantage.
• Strong analytical and problem-solving abilities, with a high degree of integrity, confidentiality, and attention to detail.
• Excellent written and verbal communication skills, including the ability to produce clear reports and interact with stakeholders at all levels.
• Solid understanding of SACCO operations, auditing standards, and regulatory requirements.
• Proficiency in accounting and audit software, and the ability to work both independently and under tight deadlines.