Islamic Development Bank-Bangladesh Islamic Solidarity Educational Wakf (IDB-BISEW) was established following an agreement between the Islamic Development Bank, Jeddah, Saudi Arabia, and the Government of Bangladesh.
IDB-BISEW undertakes funding, formulating and implementing projects in the areas of education, human resource development and institutional strengthening with the objective to transform underprivileged youths into skilled manpower to develop their technical capabilities to use existing & emerging technologies for economic growth of Bangladesh. IDB-BISEW now invites applications for the position of ‘Internal Auditor’ who will play a vital role in the operational system of the institution and accountable to the Executive Committee. S/he will reflect the overall activities of the institution and report directly to the Executive Committee and through the Executive Committee to the Committee of Mutawallis (COM) with necessary information for taking timely and appropriate decision and action.
1. The financial and operating records and reports contain accurate, reliable, timely, complete and useful information; and control over record keeping and reporting are adequate and effective;
2. The compliance with policies, plans, procedures, laws and regulations which could have a significant impact on operations and reports and should determine whether the organization has complaint with them or not;
3. Thorough examination of records and statements pertaining to the Projects undertaken by IDB-BISEW, the auditor shall perform sufficient work in order to satisfy;
4. The means of safeguarding assets will be evaluated to assess the risk of losses from theft, fire, improper activities and exposure to elements of nature and also verify the existence of assets.
Scope of Work: The internal audit work should specifically cover the following areas: i) Responsible to work with the Executive Committee and through the Executive Committee to the Committee of Mutawallis to ensure that a system is in place to identify and analyze overall financial internal control of the institution, internal control structure and set-up;
ii) Internal Auditor to submit quarterly report to the Executive Committee;
iii) Prepare a yearly audit plan to be approved by the COM according to which the audit is to be carried out;
iv) Prepare a comprehensive written report following each audit;
v) Verify the continuing adequacy and applicability of all approved policies, plans, procedures, laws and regulations;
vi) Overall review of economy, and the management of cash and other assets; vii) Provide COM with an appraisal of suitable investment of surplus funds;
viii) Oversee reconciliation, profit earned timeliness/delays in banking transactions.
ix) Disbursement procedures: Procedures for the approval and authorization of disbursements, policy/practice on advances and payments.
x) Utilization of the fund: Monitoring of the utilization of the fund schemes and sub-projects.
Compliance with the project documents the IDB-BISEW financial rules and regulations, relevant government regulations and any other formal guidance. Accounting and budgetary control: Appropriateness of accounting records, reconciliation to quarterly reports issued to IDB-BISEW office as well as banking records. Review of the budgetary process and certification of payments for availability of funds.
xi) Monitoring and reporting: Monitoring of income and expenditure against budgets and forecasts, financial reporting to the project management.
xii) Compliance with regulations: Compliance with Government regulations and terms and conditions on the generation and utilization of funds. xiii) Audit arrangements: Follow up of past audit findings and specific external reviews.
xiv) Project reporting: Accuracy and timeliness of quarterly, half-yearly and annual reports to IDB, reporting to government and committees.
Some work experience with reputed chartered accountants firm and/or bank/financial institutions;
Strong written and oral communication skills in English;
Knowledge of audit procedures, including planning, techniques, test and sampling methods involved in conducting audits;
Knowledge of computerized accounting & auditing record keeping systems;
Ability to gather, analyze and evaluate facts and to prepare and present concise oral and written reports; and
Ability to work unsupervised.