Develop policies and procedures for the audit function to guide the governance framework of audit activities within the Bank.
Develop and update comprehensive annual audit plans to ensure risk-focused and value-added audits are carried out.
Develop and implement Audit Quality Assurance Improvement Programs to ensure audit services continue to offer value-added services to the Board and Management.
Give overall supervision of the work of audit staff to ensure timely implementation of approved audit plans and ensure maintenance of a high-quality standard of audit work.
Advise the Board and Management and make recommendations for improving management controls and risk management; to ensure achievement of strategic business objectives.
Oversee the provision of assurance to financial performance, compliance, system security and due diligence.
Oversee the provision of consulting services which are advisory and related client service activities, such as conducting internal control training, providing advice to management about the control concerns in new systems, reviewing draft policies, and participating in quality review of the Bank’s projects.
Certify statutory returns to the Bank of Uganda to ensure accuracy and avoid penalties to the Bank.
Supervise, review, and participate in the training of internal Audit staff to ensure competent audit personnel able to deliver high-quality service.
Interact with the Risk and Compliance Departments to identify key risks that require audit attention.
Manage the internal Audit budget and keep departmental costs at a minimum.
Make recommendations that are intended to enhance cost containment, detection of income leakage and revenue recovery.
Evaluate and provide assurance to the Board that risk management, controls, and governance systems are functioning as intended and will enable the organization to achieve superior financial performance.
Conduct internal investigations and offer suggestions for the deterrence of fraud.