Description:
The incumbent will be responsible for performing the annual Management’s Assessment on ICOFR as per the regulatory requirements which will be subject to the annual External Auditor’s review. This will include developing, implementing and regularly enhancing the ICOFR framework across QNB Group in order to identify, assess and test the controls related to financial reporting as per industry best practices. All efforts should be made to ensure the appropriateness and adequacy of all the ICOFRs across QNB Group in order to secure clean External Audit opinion
Enter Details:
- Implementing the ICOFR Framework across QNB Group’s which will include but is not limited to:
- Determining Materiality
- Selection of significant financial statement line items and accounts
- Mapping of significant accounts and disclosure to the related internal processes
- Applying Risk-based approach for determining key processes and related internal controls to be in-scope for Management Assessment on ICOFR
- Updating documents for related Processes, Systems and Controls
- Perform and document walkthroughs for all Key Controls
- Test the design of the Key Controls
- Test the implementation of the Key Controls
- Test the Operating Effectiveness of Key Controls
- Remediate any design deficiencies prior to proceeding with operating effectiveness testing
- Updating Risk and Control Matrix (RCM) for all Internal Controls over Financial Reporting
- Documenting critical information related to the controls e.g. Process Owner, Inherent Risk Rating, Frequency, etc.
- Sample testing based on the QNB Group Sampling methodology
- Creating and updating the test plans to document the results of the Operating Effectiveness testing
- Evaluating the results of the Design & Operating Effectiveness testing
- Agreeing the results with the Process Owners
- Developing a remediation plan to address the observations