Internal audit

2.7.5 Internal audit

Description of role

Responsible for helping the Takaful firm to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance process.

Core skills

Knowledge of internal audit standards
Knowledge of general accounting system, control process and practices
Ability to evaluate and report risk on internal controls deficiencies and risk identification.
Knowledge of preparing audit risk assessment, audit plans and reports.
Ability to provide objectives and unbiased recommendations in terms of both effective and efficient performance.
Ability to evaluate information security and associated risk exposures.
Knowledge and experience in providing support to compliance and risk functions in their initiatives.
Ability to review the adequacy and effectiveness of management controls and identify gaps and recommend compulsory controls where required.
Knowledge of problem-solving skills and clear logical thinking.
Knowledge and ability to provide reasonable assurance that risk management, control, and governance systems are functioning as intended by the organisation.

Qualification and/ or certification

QFSQF Level 3-4
CPA / CMA / CIA / ACCA or equivalent qualifications would be useful
Relevant experience

Industry knowledge

Knowledge of Takaful and procedures

Knowledge of Takaful operation, process and systems

Regulatory compliance of role

Knowledge of Qatari regulatory framework

Knowledge of IAIS, IFRS, and AAOIFI Standards

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