Principle 5: Duties and Responsibilities of the Department Director
No: 46020559
Date(g): 1/10/2024 | Date(h): 28/3/1446
Status: In-Force
Effective from 2025-03-27 - Mar 26 2025 To view other versions open the versions tab on the right
1.
The scope of duties and responsibilities of the Department Director must include the following, as a minimum:
a.
Completing the necessary procedures for the audit plan to be approved by the Audit Committee.
b.
Developing an internal audit policy and completing the procedures necessary for its approval by the Board upon the recommendation of the Audit Committee.
c.
Recruiting human resources with appropriate qualifications and skills based on the actual needs of the business, developing a plan to provide such competent human resources, and sharing it formally with the Audit Committee to follow up on its implementation and assess its suitability.
d.
Nationalizing jobs in the Department according to the relevant laws and instructions.
e.
Monitoring, evaluating, and developing the performance of the Department employees continuously and encouraging them to obtain professional certificates related to internal audit.
f.
Holding meetings with the Audit Committee individually as needed.
g.
Monitoring the work of outsourced service providers when assigned to perform certain internal audit tasks, and ensuring their compliance with the relevant laws, regulations, and instructions, including these Principles and the internal audit policy adopted by the Company.
