Internal Auditor

Vacancy for Internal Auditor in manufacturing company. If interested share resume at [Confidential Information]

Job Description – Internal Auditor

Position: Internal Auditor

Department: Finance & Accounts (Internal Audit )

Reporting to: CFO / Board of Directors

Location: Sanaswadi

Working days: 6 days

Experience: 3-5 years in internal audit

Education: Semi qualified CA or any Commerce Graduate

1. Job Purpose

To independently evaluate the company's internal controls, processes, risk management, compliance and financial/operational activities, identify control weaknesses and process inefficiencies, and recommend corrective actions to improve governance, cost effectiveness and operational performance.

2. Key Responsibilities

A. Internal Audit Planning & Execution

• Prepare and execute the annual and quarterly internal audit plan based on risk assessment.

• Conduct audits of Finance, Purchase, Sales, Stores, Inventory, Production, HR, Payroll, Projects, Logistics and other functions.

• Perform process reviews and transaction testing to assess adequacy and effectiveness of controls.

• Identify gaps, irregularities, leakages, fraud risks and process inefficiencies.

• Maintain proper audit working papers and supporting documentation.

B. Internal Controls & Risk Management

• Review existing SOPs, policies, delegation of authority and internal controls.

• Identify control deficiencies and assess their financial and operational impact.

• Recommend practical measures to strengthen internal controls.

• Evaluate implementation of management controls and monitor recurring weaknesses.

• Participate in risk assessment and maintain a risk-based audit approach.

C. Financial & Transaction Audit

Review, among others: Purchase-to-Pay cycle, Order-to-Cash cycle, Inventory and stores, Fixed assets, Cash and bank transactions, Expenses and employee claims, Vendor payments, Customer collections, Journal entries and provisions, Capital expenditure, Payroll and employee-related payments

D. Operational Audit

• Review operational efficiency and utilization of company resources.

• Identify opportunities for cost reduction and productivity improvement.

• Review wastage, scrap, rejections, production losses and abnormal consumption.

• Examine inventory ageing, slow-moving and obsolete items.

• Review procurement practices, vendor selection and purchase price variations.

E. Compliance Audit

• Check compliance with applicable Companies Act, GST, Income Tax, labour laws, accounting standards and other applicable statutory requirements.

• Review compliance with company policies and management approvals.

• Track statutory and regulatory non-compliances and report significant issues.

F. Fraud Risk & Investigation

• Identify potential fraud indicators and unusual transactions.

• Conduct special audits/investigations as assigned by management or the Audit Committee.

• Analyse suspicious transactions and identify control failures contributing to fraud.

• Maintain confidentiality while handling sensitive investigations.

G. ERP / SAP & Data Analytics

• Review controls within SAP/ERP systems.

• Check user access, authorization levels and segregation of duties.

• Use Excel, Power BI, SQL or other analytical tools for transaction testing and exception reporting.

• Develop analytical reports to identify unusual transactions, duplicate payments, unusual vendor/customer activity and other exceptions.

H. Audit Reporting

• Prepare clear and concise internal audit reports.

• Classify observations based on risk/priority.

• Discuss findings with process owners and obtain management responses.

• Clearly highlight: Audit observation, Risk/impact Root cause, Recommendation, Management response, Responsible person, Target implementation date

I. Follow-up & Corrective Actions

• Monitor implementation of agreed audit recommendations.

• Conduct periodic follow-up audits.

• Report overdue corrective actions to senior management.

• Highlight repeated or unresolved control deficiencies.

3. Required Skills

• Strong knowledge of accounting and auditing.

• Good understanding of internal controls and risk management.

• Strong analytical and problem-solving skills.

• Excellent Excel/SAP/ERP skills.

• Knowledge of statutory and regulatory compliance.

• Ability to identify fraud indicators.

• Good report-writing and communication skills.

• Ability to independently interact with senior management and functional heads.

• Professional skepticism and high level of integrity/confidentiality.