The Universities Fund was established under section 53 of the Universities Act, 2012 for financing Universities in Kenya. The Fund is managed by a Board of Trustees known as the Universities Funding Board (UFB) which has been in operation since 2016. The function of the Trustees is to generally manage the Universities Fund

Job Purpose

The job holder is responsible for coordination and conduct of various types of audit and reviews in accordance with International Standards for professional practice of Internal Auditing to promote efficiency and effective of operations, reliability and integrity of financial and operational information, safeguarding assets and to ensure adherence to applicable laws and regulations, policies and procedures, standards and contracts

Person Specification

For appointment to this a grade, a candidate must have;

• Must have served as Senior Internal Auditor for a minimum period of three (3) years: or its equivalent
• Have Bachelor’s degree in any of the following disciplines: Commerce (Accounting/Finance Option), Business Management (Accounting/Finance Option), Economics, or equivalent qualification from a recognized Institution.;
• Have proficient in computer application skills:
• Demonstrated competence in work performance and results; and
• Have a Supervisory Course lasting not less than two (2) weeks from a recognized institution.

Key Competencies and skills

• Organizational skills
• Communication skills
• Problem solving skills
• Emotional Intelligence skills
• Analytical skills
• Decision Making skills
• Supervisory skills
• Analytical skills
• Negotiation skills
• Interpersonal skills
• Visionary and innovative thinking

Responsibilities:

Job Specification 

• Assessing and improving security controls within the Fund to ensure that the assets of the Fund are safeguarded
• Reviewing the fixed assets for completeness and accuracy and obtains explanations for
• Variances noted between the book values and physical values of fixed assets, where noted
• Reviewing periodic management accounts and reconciliations such as bank reconciliations, supplier statement reconciliations, debtor statement reconciliations for accuracy and completeness.
• Designing, implementing and maintaining internal controls within the Fund to ensure the financial statements are free from material misstatements and also prevent errors and fraud.
• Carrying out financial, operation and systems audits; assesses internal control systems.
• Propose value-adding recommendations for improvement.
• Carrying out relevant risk analysis and identifies high risk/auditable areas.
• Assessing internal controls for sound financial and accounting practices.
• Developing and implementing relevant audit programmes and tests
• Establishing procedures covering the scope of audit
• Carrying out special audit investigations on areas identified by management or the board.
• Maintaining and documenting of standards, policies and practices