Chairperson, Audit Committee at Council of Governors

Duties and Responsibilities for the Audit Committee Chair

The Chairperson shall provide leadership to the Audit Committee and shall be responsible for:

• Providing strategic leadership to the Audit Committee in the execution of its mandate.
• Overseeing the integrity of financial reporting and financial management processes.
• Providing oversight over governance, risk management and internal control systems.
• Overseeing the effectiveness and independence of the Internal Audit function.
• Monitoring implementation of recommendations arising from internal and external audit reports.
• Overseeing compliance with applicable laws, regulations, Government policies and ethical standards.
• Setting the agenda of the committee meetings in consultation with the other members and committee secretary.
• Presiding over Audit Committee meetings and ensuring effective discharge of the Committee’s responsibilities.
• Facilitating effective engagement between the Committee, Management, Internal Audit, External Auditors and other oversight institutions.
• Perform such other duties and responsibilities as provided under the Public Finance Management Act, 2012, the Public Finance Management Regulations, 2015 and the Audit Committee Guidelines.

Qualifications for the Audit Committee Chairperson

• Bachelor’s degree in any of the following: -Accounting, Audit, Risk Management, Finance, Economics, Human Resource Management, Law or any other related field.
• Bachelor’s degree from a university recognized in Accounting, Auditing, Finance, Economics, Risk Management, Human Resource Management, Law or another relevant discipline.
• Possession of a Master’s degree in any of the above fields will be an added advantage.
• Membership in a relevant professional body in good standing.

Experience for the Audit Committee Chairperson

• At least ten (10) years’ professional experience, five (5) of which must be in a senior management position in the relevant fields;
• Thorough understanding of relevant legislation, best practices and emerging issues in the relevant professional field;
• Good understanding of the Council of Governors’ mandate, public sector governance and public financial management.
• Be a person of integrity with demonstrated professional competence and strong interpersonal skills;
• Must not be an employee of the Council of Governors, and shall not have served as an employee or agent of a business organization which has carried out any business with CoG within the preceding two years.

Terms and Conditions of Service

Chair of the Committee shall:

• Be appointed for a term of three (3) years, renewable for one further term subject to satisfactory performance;
• Serve on a part-time basis;
• Be paid allowances at rates determined by the Salaries and Remuneration Commission (SRC).
• Successful candidates shall be required to submit valid clearance certificates in fulfillment of the requirements of Chapter Six of the Constitution of Kenya: Ethics and Anti-Corruption Commission (EACC), Directorate of Criminal Investigations (DCI), Kenya Revenue Authority (KRA), Higher Education Loans Board (HELB), and a Credit Reference Bureau (CRB).