Assistant Manager/Manager, Internal Audit

1. Lead Scheduled Project Audits:

• Develop and execute risk-based audit plans covering construction projects, head office, yards, procurement, finance, stores, and subcontractors.

2. Project Budget & Variance Analysis:

• Review approved project budgets against actual costs, identify material variances, investigate root causes, and recommend corrective actions.

3. ERP & Actual Expense Monitoring:

• Monitor ERP transactions and ensure project expenditures are properly recorded, coded, approved, and allocated to the correct project/WBS/cost center.

4. Establish & Strengthen Internal Controls:

• Design, implement, and continuously improve internal controls over procurement, payment, materials, payroll, equipment, subcontractors, revenue, and project expenditure.

5. Project Cost Control:

• Monitor project cost against budget, BOQ, contract value, committed cost, actual cost, and estimated cost-to-complete.

6. Cost-to-Complete & Forecast Review:

• Independently review project forecasts, estimated cost to complete (ETC), estimate at completion (EAC), and potential cost overruns.

7. Subcontractor Audit:

• Audit subcontractor selection, contracts, work orders, bills, measurements, retention money, advances, deductions, performance, and final settlements.

8. Material & Inventory Control:

• Ensure proper control over construction materials, including receiving, inspection, storage, issue, transfer, consumption, wastage, returns, and physical verification.

9. Construction Equipment & Machinery Audit:

• Monitor utilisation, idle time, fuel consumption, maintenance costs, spare parts, movement between projects, rental costs, and equipment productivity.

10. Cash Flow & Project Working Capital Monitoring:

• Analyze project cash inflows and outflows, advances, supplier payments, subcontractor payments, receivables, retention, and working-capital requirements.

11. Fraud Risk Assessment & Fraud Prevention:

• Identify fraud risks relating to procurement, materials, billing, payroll, subcontractors, fuel, equipment, and project expenses and establish preventive/detective controls.

12. Project Risk Management:

• Maintain and review project risk registers covering financial, contractual, operational, safety, procurement, schedule, regulatory, and reputational risks.

13. Project Progress vs. Cost Analysis:

• Compare physical progress with financial progress and identify situations where cost is increasing faster than actual construction progress.

14. Schedule & Delay Risk Review:

• Review project schedules, milestone achievement, delays, extension-of-time claims, idle resources, and the financial impact of project delays.

15. SOP & Policy Development:

• Develop and update SOPs, internal control manuals, delegation of authority matrices, approval workflows, and project control procedures.