Internal Audit Consultant

Global Communities
Apply by 30 April 2013
Senior-level , Field assignment
Posted on 29 July 2013

Job Description


CHF ACSI is the largest microfinance service provider in Iraq. Since 2003, it has built a portfolio of $45 million serving over 20,000 active clients. The growth has almost entirely been funded through grant funding and retained earnings from the project. As of 2012, CHF ACSI has an additional $40 million in debt funding through a thirteen-year facility from a single lender that will permit its expansion over the next five years. This type of growth requires the adaptation of its structures, procedures, systems, controls, risk management and products to its future needs.

Over the past year, CHF ACSI has made deliberate efforts to decentralize authorities to department heads including budgeting, signing authority and staffing decisions. With decentralization, its internal controls must be adapted, and one critical component will be the creation of an internal audit function.

CHF ACSI is seeking a consultant to work with CHF ACSI management and advisory board to recruit and train a new internal auditor and operationalize the internal audit function.


CHF ACSI is seeking to assure its growth continues to be managed prudently and efficiently, as it endeavors to meet its full growth potential. This consultancy will result in the development of an audit function. Thus it is seeking a consultant to carry out four tasks:

  • Build upon audit policies, tools and programs from other MFIs in the CHF network to adapt to CHF ACSI’s requirements
  • Support CHF ACSI Advisory Board to recruit an internal auditor to establish and lead the unit
  • Train the internal auditor, including support in the development of an audit plan
  • Assist senior management in clarifying its role and relationship with the internal audit function

Description of Services

Over the period of assignment, the consultant will fulfill the following activities:

Conduct Internal Audit Assessment and report to be submitted to ACSI Management and Advisory Board.

  • Part of the assessment should include a review existing audit tools used by other MFIs in CHF’s network with regards to ACSI’s current size, plans and applicable laws (offsite)
  • Based on observations from the visit, this report will cover findings and specific recommendations for improvement in internal procedures and controls.

Develop a job description and support recruitment efforts

This will include working with CHF ACSI’s Human Resource department to identify candidates, conduct technical interviews, and recommend an Internal Auditor to the Advisory Board for hiring

Provide specific policy and procedure recommendations

  • Provide off-site technical support to the newly recruited Internal Auditor.
  • Work with the newly recruited internal auditor to develop an Audit Plan, including revision of tools and forms used by other MFIs in the network.
  • Complete a report on Internal Audit training and creation of Internal Audit Committee
  • Review Internal Audit’s reports of the first three branch audits.
  • Submit quarterly reports, highlighting updates on activities, assessment and recommendations in required format.


  • Assessment Report with findings and recommendations.
  • Drafting job description and announcement, and recommendation for the hiring of an Internal Auditor.
  • Training/support to Internal Auditor in new policies and procedures
  • Audit Plan containing annual work plan.
  • Quarterly reports on progress of the technical support and implementation of recommendations.

Cost, Duration and Schedule

The level of effort is 24 days from July 2013 – June 2014, including two trips with a minimum of 15 on-site days to ACSI’s offices in Iraq and Lebanon.


This assignment may be carried out by an individual, team or firm.

  • At least five to ten years of experience in internal audit or operational risk assessment in microfinance or SME lending.
  • Previous experience developing client delivered programs in: Organization Risk Management-Assessment-Training, Internal Controls, Internal Audit, Quality Assurance, and Operational and Strategic Governance.
  • Past performance in similar work for well-known microfinance/ SME lending institutions, preferably in the Middle East.
  • Strong verbal and written communication skills
  • Fluency in English, Arabic helpful

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