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Internal Auditor job at ENCOT Microfinance

About the Organization

Founded in 2006, ENCOT is a microfinance institution that provides financial services for low-income people in Uganda so that they can create their own jobs, increase household incomes and improve their livelihoods.

Job Description

Serving over 36,000 clients in 17 districts of the Mid-Western and Central region(s) of Uganda, ENCOT Microfinance Limited (ENCOT) is a social impact, fast growing and innovative MFI operating a network of 10 branches of Hoima, Masindi, Kigumba, Kagadi, Nakasongola, Kawempe, Luweero, Bweyale, Katikara and Karuguuza. ENCOT’s mission is to provide microfinance services to low-income smallholder farmer communities, most especially women, to allow them curve their own paths out of poverty through creation of own jobs. ENCOT is seeking to recruit dynamic, self-motivated and result oriented professionals to urgently fill the following positions:


Reporting to the Board Audit Committee, the Internal Auditor performs professional internal auditing work which involves managing or conducting performance, operational, financial, IT and compliance audit assignments across the organization. He or she ensures that the organization’s audit plan is executed; he/she provides consulting services to management and staff. He or she provides leadership to development of the annual internal audit plan, all with emphasis on a risk-based approach designed to assist the board and management in the attainment of their objectives. He or She maintains all organizational and professional ethical standards and ensures internal audit activities are carried out in compliance with The IIA’s International Standards for the Professional Practice of Internal Auditing.

Duties and Responsibilities

  • Evaluating Internal Controls: Assessing the adequacy and effectiveness of internal control systems to ensure assets are safeguarded, financial and operational information is accurate and reliable, and the organization complies with laws and regulations.

  • Risk Management: Identifying and assessing risks that could impede the organization's objectives. This involves evaluating the risk management processes and recommending improvements.

  • Compliance Audits: Ensuring that the organization adheres to internal policies and external regulatory requirements. This includes reviewing compliance with laws, regulations, and contracts.

  • Operational Audits: Examining the efficiency and effectiveness of business operations. This involves evaluating processes and procedures to determine if they are functioning as intended and suggesting enhancements.

  • Financial Audits: Reviewing financial records and statements to ensure accuracy and completeness. This includes verifying transactions, testing account balances, and ensuring that financial reporting follows applicable standards.

  • Information Technology Audits: Assessing the controls over IT systems and ensuring that data integrity, security, and privacy are maintained. This involves evaluating software applications, network security, and data management practices.

  • Fraud Detection and Prevention: Identifying potential areas of fraud risk and investigating any suspected fraudulent activities. This includes recommending measures to prevent and detect fraud.

  • Consulting Activities: Providing advisory services to management on governance, risk management, and control processes. This can involve offering insights on strategic initiatives, new technologies, or process improvements.

  • Reporting: Preparing audit reports that detail findings, risks, and recommendations for improvement. These reports are typically presented to senior management and the audit committee.

  • Follow-Up Audits: Conducting follow-up reviews to ensure that management has implemented audit recommendations and that corrective actions have been effective.

  • Training and Development: Educating staff about internal controls, risk management, and compliance requirements. This can involve developing training programs and conducting workshops.

  • Stakeholder Communication: Interacting with various stakeholders, including management, the audit committee, and external auditors, to provide updates on audit activities and findings.

Qualification, Experiences and Competencies

  • Degree in at least one of the following fields is a MUST: Business, Finance, Accounting, Audit, and any other related field.

  • Chattered training in Auditing, Accounting, and Compliance Management such as IAA, CIA, ACCA, and CPA is a distinct advantage.

  • A minimum of THREE (3) years’ Finance/Accounting and/or Audit/Risk management experience.

  • Exposure to best-practice financial management in a financial institution or an audit firm is an asset.

  • Proficiency in MS Office suite, good understanding of IT and its role in modern management.

Core Capabilities:

  • Knowledge of and skill in applying internal auditing principles and practices, and management principles and preferred business practices.

  • Good knowledge of the Standards and Code of Ethics.

  • Some Knowledge of contemporary risk management and control techniques and working knowledge of contemporary control frameworks.

  • Some Knowledge of management information systems terminology, concepts, and practices, including but not limited to applicable reporting, disclosure, financial reporting and accounting principles and practices.

  • Skill in collecting and analyzing data, evaluating information and systems, and drawing logical conclusions.

  • Good skill in planning and project management, and in maintaining composure under pressure while meeting multiple deadlines

How to Apply

Qualified and interested candidates should submit their applications in PDF format (Cover Letter, CV and Copies of relevant academic documents) by email to or hand deliver to any of branch. All applications should be addressed as below:
The Human Resource Officer
ENCOT Microfinance Ltd
Plot 88 Port Road, Masindi
P.O. BOX 389, Masindi
Any documents submitted to ENCOT for application purposes shall not be recalled.
Please note that only shortlisted candidates will be contacted.

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