Job Overview: The Internal Auditor is responsible for evaluating and enhancing the company’s financial and operational controls, ensuring compliance with regulatory requirements, and mitigating risks across all business functions. This role involves conducting in-depth audits, identifying inefficiencies, and recommending improvements to strengthen governance and financial integrity. The Internal Auditor will work closely with the senior management to develop audit strategies, assess business processes, and implement best practices that align with Palace Group’s operational and financial objectives. Key Responsibilities: Audit Strategy and Framework • Develop and execute a comprehensive internal audit plan aligned with the company’s operational structure. • Establish and maintain audit methodologies to assess financial transactions, procurement processes, and internal controls. Risk Management and Internal Controls • Design and implement internal control systems to identify, assess, and mitigate financial and operational risks. • Conduct risk assessments to evaluate potential vulnerabilities in accounting, procurement, and project-related expenditures. Audit Execution • Perform detailed audits of financial records, contracts, vendor payments, and project budgets to ensure compliance and accuracy. • Assess adherence to company policies and industry standards, identifying discrepancies and areas for improvement. Process and Policy Improvement • Analyze and optimize financial and operational processes to enhance efficiency and cost-effectiveness. • Recommend policy updates and procedural enhancements to strengthen internal controls and operational transparency. Stakeholder Collaboration • Partner with senior management to address financial control issues and ensure the implementation of audit recommendations. • Liaise with external auditors and regulatory bodies to ensure compliance with reporting and financial regulations. Reporting and Documentation • Prepare detailed audit reports outlining key findings, financial risks, and actionable recommendations for the General Manager. • Maintain accurate, organized and easily accessible audit documentation for internal and external review. Compliance and Governance • Ensure adherence to UAE financial laws, VAT regulations, and other relevant compliance requirements. • Monitor changes in financial regulations and recommend policy adjustments to maintain compliance.
Requirements
Education: • Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. • Professional certifications such as CPA, CIA, ACCA, or CMA are highly preferred. Experience: • 10 years of experience in internal auditing, risk management, or financial compliance. • Prior experience in the construction, real estate, or luxury development sector is an advantage. Skills: • Strong knowledge of IFRS, UAE financial regulations, and internal audit standards. • Proficiency in ERP systems (e.g., ePROMIS) and financial auditing software. • Advanced skills in data analytics, risk assessment, and process evaluation. • Strategic and analytical mindset with the ability to assess complex financial operations. • Excellent communication and presentation skills for delivering audit findings and recommendations. • High level of integrity and professionalism in handling sensitive financial information. • Ability to work independently and manage multiple priorities under tight deadlines. • Strong attention to detail and accuracy in financial reporting. Personal Attributes: • Maintains the highest ethical standards, confidentiality, and objectivity in all audit processes. • Possesses a keen eye for detail, identifying financial risks and providing strategic recommendations. • Confidently engages with senior management, presenting audit findings and driving compliance initiatives.
About the company
UAEs leading general contractors, world-class specialists driven by innovation, efficiency and exceptional results.
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