Internal Audit Director

Description

Tuwaiq Casting & Forging is seeking an experienced and highly qualified Internal Audit Director to lead the Internal Audit function. Reporting functionally to the Audit Committee/Board and administratively to the CEO, this senior role is responsible for providing independent and objective assurance and consulting services that ensure the effectiveness and efficiency of internal controls, risk management, and governance processes across the organization. The Director will develop and execute a comprehensive internal audit strategy aligned with organizational objectives and applicable regulatory requirements.

Key Responsibilities

Audit Strategy & Planning

• Develop and maintain the Internal Audit Charter
• Develop and maintain a risk-based internal audit strategy and annual audit plan aligned with organizational strategy, subject to Audit Committee approval
• Develop and maintain the risk universe and audit universe
• Conduct enterprise-wide risk assessments.
  
  

Audit Execution & Reporting

• Conduct independent and objective audits across all business units, departments, and functions to evaluate the adequacy and effectiveness of internal controls, policy compliance, and risk management practices
• Evaluate governance processes and organizational ethics
• Assess fraud risks and support fraud investigations when required
• Monitor implementation of management action plans
• Prepare comprehensive audit reports documenting findings, root causes, and recommendations for management action, with timely follow-up on implementation
• Present audit results to the Audit Committee and report significant control weaknesses immediately.
  
  

Advisory & Risk Monitoring

• Provide consulting and advisory services without compromising independence
• Monitor emerging risks across the organization
• Evaluate cybersecurity and IT controls
• Assess ESG and sustainability risks where applicable
• Review compliance with corporate governance requirements
• Coordinate the External Quality Assessment (EQA) on a five-year cycle.
  
  

Operational & Industrial Audit

• Evaluate manufacturing processes and operational controls
• Review maintenance, production, inventory, procurement, and quality management controls
• Assess HSE compliance and operational risks
• Review ERP system controls
• Evaluate project governance and capital expenditure controls.
  
  

Quality Assurance & Coordination

• Establish and maintain quality assurance procedures and metrics to ensure audit work meets professional standards and organizational expectations
• Coordinate with external auditors, regulatory bodies, and other assurance providers to ensure comprehensive audit coverage and avoid duplication.
  
  

Function Management

• Manage the Internal Audit function budget and resources, including the recruitment and development of audit staff
• Ensure compliance with the International Standards for the Professional Practice of Internal Auditing (IIA Standards) and relevant local regulations.
  
  

Requirements

Education & Professional Certifications

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field; Master's degree preferred
• CIA (Certified Internal Auditor) or equivalent professional certification is required
• CPA or ACCA qualification is advantageous.
  
  

Experience

• Minimum 10 years of internal audit experience, with at least 5 years in a senior audit management or directorate role
• Proven track record in developing and executing risk-based audit strategies within complex organizations
• Experience in manufacturing, industrial, or heavy equipment sectors is preferred.