Head - Audit (Monitoring)

Role Overview

Head – Audit (Monitoring) at ADGM. This role oversees and ensures proper, risk-based, efficient and effective monitoring and supervision of audit firms and audit principals in the Abu Dhabi Global Market.

Company Overview

ADGM is the regulator of audit firms and audit principals, responsible for registration, supervision, monitoring and where necessary sanctioning audit firms and audit principals pursuant to applicable rules and regulations. High audit quality is a key strategic regulatory priority.

Role Purpose

To oversee and ensure the proper, risk-based, efficient and effective monitoring of audit firms and audit principals in ADGM. The role is accountable for delivering supervisory outcomes, forming regulatory judgements, setting supervisory direction, and independently representing the RA in complex or high-impact audit matters. The incumbent promotes high audit quality among audit firms, ensures sound monitoring frameworks and procedures, maintains key stakeholder relationships, and provides thought leadership in audit regulation.

Key Responsibilities

Strategy & Risk Management

• Develop and execute the Division's supervisory strategy, risk management framework and supervision plans in relation to audit firms and audit principals.
• Set supervisory priorities and determine risk appetite in relation to audit firms and audit principals.
• Formulate and continuously adapt the risk-based supervisory approach and ensure compliance with it.
• Lead RA's independent risk-based profiling of ADGM audit entities to effectively and efficiently direct monitoring activities.
• Contribute to the continued development and enhancement of the supervisory approach and internal supervisory procedures.

Supervision & Monitoring Operations

• Lead and oversee the periodic risk assessment process for auditors and audit principals.
• Deliver the requirements of the RA's audit monitoring strategy and framework.
• Develop and lead an annual supervision plan of auditors in ADGM that is structured and executed in accordance with the audit monitoring framework.
• Ensure risk-based on-site assessments of ADGM registered audit firms are carried out including audit file reviews.
• Ensure inspections and audit file reviews are risk-focused, evidence-based, and result in clear, defensible supervisory conclusions.
• Carry out audit monitoring activities, including outreach, education, reviews, inspections and investigations.
• Collect, collate, review and log information from internal and external notifications, as well as firm filings.
• Set, track and follow up on reminders to firms related to filings, correcting non-compliance and other monitoring operations.

Policy & Compliance

• Develop and ensure adherence to the policies and procedures of the RA.
• Actively stay abreast of updates to relevant professional standards and applicable rules and regulations.
• Attend and contribute to the work of any international standard organisations and committees as may be required.

Monitoring & Enforcement

• Lead in developing, setting and delivering the overall M&E monitoring strategy.
• Lead in the structured and consistent execution of the M&E framework, including to identify, assess, report on and respond to firm contraventions.
• Ensure identified contraventions from supervisory activities are appropriately responded to, including the submission of high-quality timely referrals to the RA Enforcement Department.
• Engage proactively with Enforcement to support the development of robust, evidence-based cases.
• Exercise sound supervisory and regulatory judgement in assessing breaches and determining appropriate supervisory or enforcement responses.

Reporting & Analysis

• Contribute to monthly, quarterly and annual reporting by the Monitoring Department on the Audit Section.
• Drive the use of data, analytics and digital tools to enhance risk identification, supervisory efficiency and management information.
• Leverage emerging technologies, including artificial intelligence, to enhance supervisory processes and improve efficiency, including supporting the development of scalable tools where appropriate.

Quality & Guidance

• Provide expert leadership in statutory financial audit, assurance and corporate reporting.
• Plan and lead outreach, education and guidance on audit quality, audit standards and regulatory requirements.
• Serve as a go-to point of expertise when dealing with audit supervisory matters for the rest of the team across a variety of sectors.

Projects & Implementation

• Support the design and delivery of new and on-going Monitoring projects.

Stakeholder Management

• Build and maintain effective audit supervisory stakeholder relationships within ADGM, locally and internationally.
• Ensure timely, accurate, open and constructive communication with audit firms and stakeholders.
• Confidently engage with senior audit firm stakeholders and provide clear supervisory challenge where required.

Team Leadership & Management

• Lead a team of audit supervisors in the day-to-day implementation of the RA's annual audit supervisory plan.
• Act as a senior member of the Monitoring Department leadership team, contributing to wider supervisory strategy and cross-sector initiatives.
• Create an environment where team members consistently drive to improve performance.
• Manage team with full accountability for achieving overall agreed objectives.
• Manage by effectively empowering team members.
• Take responsibility for mentoring high potential and most critical talent in their career progression, and for promoting continuous professional development to ensure technical competence is maintained.
• Review performance of team and address performance issues quickly through clear decisions.

General

• Operate with a high degree of autonomy, taking ownership of supervisory issues and resolving matters at source where appropriate.
• Understand, adopt, adhere and practice responsibilities and controls as per ADGM Information Security policy and best practices explained in induction and awareness sessions.
• Maintain confidentiality, integrity and availability of ADGM Information at all times, both within and outside ADGM.
• Deliver additional tasks that may be delegated or assigned from the Associate Director, Monitoring.

Qualifications & Experience

• Minimum bachelor's degree in accounting, commerce, legal, financial, or business discipline.
• Professionally qualified accountant from a professional body that is a full member of the International Federation of Accountants (IFAC).
• 12–14 years of experience in the field of audit, with a minimum of 9 years post-qualification experience.
• Evidence of continuous professional development.
• Strong preference for experience within an audit regulator, oversight body, or similar supervisory environment (desirable).

Skills & Competencies

• Strong technical skills and knowledge of International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs), other assurance and sustainability reporting standards.
• Familiarity with sustainability reporting and assurance standards (e.g. ISSB or equivalent) is desirable.
• Fluent business English speaker with ability to write detailed and precise supervisory reports and briefings within tight deadlines.
• Proficient in Arabic or other language(s) and understanding of Arabic culture (desirable).
• Understanding of the public interest role of regulatory bodies.
• Knowledge of regulatory and supervisory policies and frameworks.
• Analytical, problem-solving, communication and interpersonal skills.
• Ability to make sound decisions based on good professional judgement, analysis and evidence that are well documented.
• Internal and external stakeholder management skills.
• Demonstrated project management, planning, organisation and analytical skills.
• Risk assessment and early recognition of trends.
• Excellent influencing, negotiation and strong leadership skills.
• Understanding of the impact of emerging technologies, including artificial intelligence and automation tools, on audit quality, audit methodologies and regulatory supervision (desirable).
• Strong understanding of UAE corporate tax regime and experience in auditing tax (desirable).

Additional Information

• Reports to the Associate Director, Monitoring.