Director of Internal Audit

DescriptionJob Summary

Reporting to the Chair of the Audit Committee of the Board of Directors with ongoing administrative support provided by the WVU Foundation President & CEO, oversees the Foundation’s internal audit program while maintaining independence and objectivity. Reviews and tests a broad range of information including accounting, financial, human resource, information technology, compliance and other operational and technical information. Evaluates and tests the overall design and effectiveness of business practices and entity level controls as well as internal controls over financial reporting.

Duties and Responsibilities

Characteristic Duties & Responsibilities – Essential Functions:

Performs audit work in conformance to the "International Standards for the Professional Practice of Internal Auditing"
Plans, implements, and evaluates short and long-range objectives of the Internal Audit Office
Establishes policies, directs technical and administrative functions for the Internal Audit Office
Facilitates the enterprise risk management (ERM) program and considers the results of the assessment and program in establishing the annual internal audit plan
Prepares the annual audit plan and audit status reports
Determines the priority of audits and investigations, performs and directs audit activities, reviews audit documentation
Develops audit programs and identifies audit procedures to be performed
Evaluates systems of internal controls, adequacy of accounting records, and system design
Considers compliance with Foundation policies and procedures, state and federal laws and regulations and contractual requirements throughout the audit cycle
Completes post-field work activities related to each audit including verbal and written reports containing audit results, observations, recommendations, and management responses for management, the Audit Committee, and University personnel as appropriate
May Direct and supervise personnel to assist in accomplishing audit procedures
Develops and controls the Internal Audit Office operating budget
Develops and maintains the audit manual for the Internal Audit Office
Establishes and maintains a quality assurance and improvement program for the Internal Audit Office
Monitors projects and committees reviewing proposed, revised, and/or new systems
Serves as an advisor to other departments and committees when questions pertaining to internal control or procedural requirements arise
Participates in and provides support to the Foundation’s external, independent auditors and shares internal audit reports including management responses with the independent auditors and coordinates work with them
Establishes and maintains effective working relationships with Foundation employees, appropriate University staff, and external contacts
Coordinates administrative activities of the Audit Committee

QualificationsQualifications

Experience & Education Requirements:

Bachelor's degree in accounting or related field; Certified Public Accountant or Certified Internal Auditor; five years or more experience in public accounting or internal auditing; two years or more supervisory experience; experience in working with large, computerized accounting systems and complex organizations. Experience within not-for-profit organizations preferred.

Knowledge & Skill Requirements:

Knowledge of accounting theory, auditing standards, procedures, and techniques required to perform audits
Knowledge of fund accounting and internal auditing
Knowledge of higher education financial and reporting standards
Knowledge of auditing information systems and systems designs
Knowledge of management concepts
Knowledge of the requirements for effective report writing
Ability to effectively audit in a computer environment
Ability to develop and evaluate both short and long-range plans
Ability to plan, organize coordinate, and manage others in a wide variety of activities
Ability to comprehend and interpret policies, procedures, laws, regulations, and guidelines
Ability to consistently produce accurate work to evaluate the materiality and significance of deviations from established policies, procedures, and regulations, and to make recommendations for corrective action
Ability to communicate effectively in both oral and written form
Ability to exercise good judgment in evaluating situations and making decisions

Certificates, Licenses and Registrations: Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) or other relevant certifications preferred.

Physical requirements

While performing the responsibilities of the job, the employee is required to talk and hear. The employee is often required to sit and use his/her hands and fingers, to handle or feel. The employee is required to stand, walk, reach with arms and hands, and possibly at times, climb or balance, stoop or kneel. Vision abilities required to perform this job include close vision. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform these essential functions.

Supervisory Responsibilities

May direct the work of an Internal Audit intern.

*Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time, with or without notice.