Audit Committee Member (One Position) at Commission on Revenue Allocation

• Pursuant to Section 73 (5) of the Public Finance Management (PFM) Act, 2012, the PFM (National Government) Regulations, 2015 as well as the guidelines for establishment of Audit Committees in the National Government public entities, the Commission invites applications from qualified, experienced and competent persons to fill the above position.

Duties and Responsibilities

• Evaluate whether processes are in place to address key roles and responsibilities in relation to risk management.
• Evaluate the adequacy of the control environment to ensure the systems of internal control are of a high standard and functioning as intended.
• Perform an independent review of the Commission’s financial statements to ensure the integrity and transparency of the financial reporting process.
• Monitor the effectiveness of the Commission’s performance information and compliance with the performance management framework and performance reporting requirements.
• Evaluate the quality of the Internal Audit Department, particularly the areas of planning, monitoring and reporting.
• Engage with external auditors and assess the adequacy of management response to issues identified by audit.
• Review the effectiveness of how the Commission monitors compliance with relevant legislative and regulatory requirements and promotes a culture committed to lawful and ethical behavior.
• Provide oversight on governance, risk management and control processes and make appropriate recommendations to the Commission.
• Perform the roles and responsibilities as laid out in the PFM (National Government) Regulations 2015 as well as the Audit Committee Guidelines for National Government, 2016.

Requirements for appointment

• Be a Kenyan citizen
• Possess a minimum of a Bachelor’s degree in Accounting, Finance or Business
• Administration (Finance and Accounting option), Auditing, Economics, Risk
• Management or relevant field from a recognized University.
• Possession of a Master’s Degree in any of the above fields will be an added advantage.
• Be a Certified Public Accountants of Kenya (CPA-K) or Certified Internal Auditor or its equivalent.
• Be a member of the Institute of Certified Public Accountants of Kenya (ICPAK) or Institute of Internal Auditors (IIA) or any other relevant body in good standing.

Have at least ten (10) years professional experience in any of the following fields: -

• Accounting, Auditing, Risk Management, Finance, Economics, or relevant field at a senior management level in the public or private sector.
• Have a good understanding of the mandate of the Commission, National Government operations, financial reporting and auditing.
• Have a thorough understanding of the relevant legislations, best practices and emerging issues in Auditing, Risk Management and Financial Management; Not be a holder of any political office.
• Be compliant with the requirements of Chapter Six of the Constitution on Leadership and Integrity.

Terms of Appointment:

• Members of the Audit Committee shall serve on part time basis for a period of three(3) years and shall be eligible for re-appointment for a further one term only subject to satisfactory performance.
• The allowances payable to members of the Audit Committee shall be determined by the Salaries and Remuneration Commission (SRC).
• Members appointed to the Audit Committee shall not be a present or past employee of the Commission and shall not have served as an employee or agent of any business organization which has carried out any business with the Commission in the last two (2) years.