Job Description
2. JOB PURPOSE
To provide the Sacco with guidance on financial accuracy, internal controls and regulatory
compliance. To examine and improve operating practices, and financial and risk management
processes of the Sacco.
3. MAIN RESPONSIBILITIES OF THE JOBS
A. Shall be responsible to the Board of directors for
i. Developing a comprehensive audit program & audit plan to cover all the activities &
programs of the Sacco
ii. The implementation of an internal risk based audit strategy & annual plan
iii. Conducting timely risk based internal audits and advising the board of directors on all audit
matters
iv. Reviewing & advising the board of directors on the risk management frame work.
v. Assessing the reliability & integrity of financial, operating procedures & compliance with
set policies.
vi. Reviewing the economic efficiency & effectiveness in the utilization of resources so that
the objectives of the society are achieved.
vii. Providing practical solutions to improve overall efficiencies & enhance internal controls.
viii. Monitoring the levels of compliance with laws, rules, regulations, policies, processes, &
procedures.
ix. Conducting investigations on suspected internal fraud & corruption
x. Proactively keeping the board of directors & management aware of emerging trends
regarding internal controls, risk management, governance and internal auditing;
xi. Preparing & presenting accurate internal audit reports to the board of directors on a
monthly basis.
xii. Liaising with external auditors when audits are undertaken.
xiii. Providing support, technical and secretarial services to the supervisory committee in the
performance of its duties under these Regulations and the Cooperative Societies Act 1997;
xiv. Promoting the highest standards of ethics and Sacco Society based on the principles of
integrity, objectivity, competence, and confidentiality.
xv. Ensure the financial statements of the Sacco have been prepared in accordance with IFRS,
IAS and the Sacco Societies Act
xvi.Ensure that the Sacco’s fixed assets have been safeguarded, their physical condition is
proper, they exist and they are correctly valued.
xvii.Analyze the investments made by the Sacco to ensure that the policy was followed, the
investments are safe, and such investments have been made for the good of the Sacco
xviii.Identifying and qualifying key business risks while estimating the probability of
occurrences and the impact on the Sacco and making appropriate recommendations
xix.Any other duty that may be assigned by the Board of Directors
B. Shall be responsible to the Authority for;
i. Communicating any evidence of irregularities or illegal acts that have been committed by
directors, employees or the Sacco Society.
ii. Informing the Authority, if there are grounds to believe that the Sacco Society is insolvent
or that there is a significant risk that it may become insolvent.
iii. Reporting failure by the officers to provide all of the necessary information and
documentation to enable the internal audit function to perform internal audit duties
effectively
iv. Performing any other responsibilities as the Authority may direct.
4. KNOWLEDGE, SKILLS AND EXPERIENCE
Minimum level of academic qualification, skills and knowledge required to perform effectively
in the role:
a) A Bachelor’s Degree - Business Related.
b) Knowledge on relevant ERP will be an added advantage.
c) Proficiency in Microsoft applications
Minimum level of professional qualification required to perform effectively in the role:
A professional accounting qualification CPA-K and a member in good standing with ICPAK or
relevant professional body.
Minimum months or years of experience required to have to be appointed to the position:
A minimum of 5 years working experience.
5. PERSONAL ATTRIBUTES & COMPETENCIES
i. Judgment and decision-making ability
ii. Accuracy and attention to detail
iii. Excellent communication and Interpersonal skills.
iv. Excellent analytical and audit skills
v. Self-driven and work with minimal supervision
vi. All risk analysis skills
vii. Advanced report writing and presentation skills
viii. Good IT skills and Proficient in Microsoft office suite
ix. Unquestionable integrity