Vacancy Announcement

Government Job

Lahore Electric Supply Company

CHIEF INTERNAL AUDITOR Lahore Electric Supply Company (LESCO), a leading public electric utility Company, endeavoring to provide uninterrupted electric supply to more than 5.6 million valued consumers with 20,433 employees is seeking the services of an experienced, dynamic, high caliber and result oriented professional to work as Chief Internal Auditor as part of its senior executive team, who can undertake the challenging assignment effectively.

• Master (18 Years) Degree in CA , from Higher Education Commission (HEC) Recognized Institutes with 15 Years Experience.

• How to Apply:

  Application forms are available on LESCO website (www.lesco.gov.pk). Applications should be submitted online on LESCO website as well as through courier. Applicants who apply must submit the following accompanying related documents along with the application;

  a.       Copy of detailed CV with updated career history;

  b.      Copy of CNIC and recent photograph;

  c.       Copies of Degrees/Testimonials duly verified by the Higher Education Commission (HEC) or the professional body / association, whichever is relevant;

  d.      Applicant with foreign academic qualification is to furnish HEC Equivalence certificate;

  e.       Attested copy of registration / Membership with Professional Governing Body, if applicable;

  f.        Detailed separate list of experience along with experience letter / certificate / reference letter.

  
  

• Responsibilities and Skills:

  Main responsibilities of the position include the following but are not limited to:

  Chief Internal Auditor being the head of the internal audit function at the Company shall enjoy unrestricted access to its financial records along with the responsibility of ensuring their sanctity. He / she shall report to the Audit Committee, being accountable to the Board of Directors.

  ·                   Evaluate Accounting, Financial, Credit and other operational activities as an independent appraisal function.

  ·                  Ensure effective management of the Financial Resources of the Company.

  ·                  Review and appraise the soundness, adequacy and application of accounting, Financial & Operational controls.

  ·                  Formulate Internal audit programs in such a way that all aspects of financial transactions are audited.

  ·                  Oversee the company’s functions and supervise a review of the company’s personnel, all activities and determine compliance with applicable policies and procedures in a manner consistent with the objectives and standards of administrative practice. 

  ·                  Verify audit evidence and record audit observations, make audit recommendations that are feasible, practical and cost efficient for approval through communication of audit results to Audit Committee. 

  ·                  To develop an effective team of competent subordinates who understand and are able to discharge the obligations of their positions / jobs.

  ·                  To undertake special investigation at the directives of the Audit Committee / Board of Directors.

  ·                  Have liaison with the External and Commercial auditors of the Company.

  The skill set of the Applicant is expected to include

  Broad knowledge of business processes as well as thorough technical acumen with respect to financial, legal and regulatory compliances which govern the electricity distribution sector.

  ·                  Ability to lead by example and build a conducive working environment for an engaged and committed team.

  ·                  The capacity to gain an insight into the workings of the company and remain in liaison with all departments across the company need order to oversee compliances and ensure regulatory oversight.

  ·                  In depth understanding of the Accounting, Financial, Credit and other related operational activities in order to effectively undertake an independent appraisal function.

  ·                  Specialist insight into the financial resources of the company in order to formulate and put into effect efficient audit practices. 

  
  

  Qualifications and Experience:

  The qualifications and Experience expected from an Applicant include:

  1.      Has to be member of a recognized body of professional accountants having qualification of CA/CPA/ACMA/ACCA/MBA (Finance) from reputed local or international university / institute recognized by the Higher Education Commission.

   

  2.      The candidate must have a minimum post qualification relevant audit experience of 15 years which includes at least 5 years experience at senior level position in a large sized private or government sector organization.

   Through understanding of GAAP and international audit standards for the power sector at national and international level.

  Ideal candidate should have strong business acumen and judgement, In-depth understanding of internal audit function in ERP environment, risk, systems and controls that meet IIA Standards and experience of senior management and Board level interactions.

   The candidate must comply with the Fit & Proper Criteria and other conditions as prescribed in the State-Owned Enterprise Act, 2023.  

   Remuneration & Contract Period:

  Market-based competitive salary package commensurate with qualifications and experience of candidate to be decided by BOD at the time of selection.

  The initial contract shall be for a period of three (3) years, extendable on satisfactory performance with annual performance evaluation to be conducted by the Board of Directors LESCO, against agreed Key Performance Indicators (KPI’s) as detailed in the contractual arrangement and revisited from time to time.

  NOTE:

  a)      Only shortlisted candidates will be called for interview.

  b)      The applicant must ensure the application is complete in all respects. The Board reserves the right to seek further information and / or documentation from any applicant as it deems appropriate.

  c)      Applicants shall be required to present all original documents including experience certificate at the time of interview.

  d)      No application will be accepted by hand.

  e)      Applications should reach no later than 22.01.2025.

  f)       Candidates working in Govt. /Semi Govt./Autonomous public organizations are required to apply through proper channel along with NOC of their department issued on its letter head.

  g)      The abovementioned position is purely contractual in nature, non-pensionable, no long-term benefit and shall not be converted into permanent position at any stage.

  h)      LESCO reserves the right to withhold / cancel the recruitment process at any stage without assigning any reason.

  i)       LESCO is an equal opportunity employer.

  
  
• Last Date to Apply: 1/22/2025
• Test Date: N/A
• Test Location: N/A
• Interview Date:: N/A
• Interview Location: N/A