Internal Auditor - Accounts & Finance

MODERN LIFESTYLE LTD

JOB DESCRIPTION

Internal Auditor – Accounting & Financial Controls
Company Modern Lifestyle Ltd Location Tanzania
Department Finance & Accounts Employment

Type Full-time

Position Internal Auditor – Accounting &

Financial Controls Reports To Group CFO / designated
management authority

COMPANY AND BUSINESS CONTEXT
Modern Lifestyle Ltd (MLL) is a Tanzania-based trading and distribution company dealing in construction materials,
including tiles and related products. Its accounting environment includes imported and local purchases, landed-cost
allocation, warehousing, stock transfers, domestic and export-related logistics, cash and credit sales, customer
collections, supplier settlements, foreign-currency transactions, tax compliance and related-party dealings within
the Modern Group.
JOB PURPOSE
To strengthen the accuracy, completeness and timeliness of the company’s books of account and financial
reporting. The role will independently review accounting entries, reconciliations, inventory records, receivables,
payables, taxes, cash and bank transactions, landed costs and period-end financial statements. The position is
accounting-centric: its primary focus is preventing and correcting accounting errors, closing gaps in supporting
documentation, improving financial controls and ensuring that management receives reliable financial information.
PRIMARY RESPONSIBILITIES
1. Books of Account and Transaction Accuracy
 Review daily accounting entries for sales, purchases, receipts, payments, expenses, journals, debit notes, credit
notes and stock movements.
 Verify correct ledger selection, accounting period, cost centre, branch or warehouse, tax treatment, currency
and supporting documentation.
 Check that transactions are recorded completely, promptly and in accordance with approved accounting
policies and applicable financial reporting requirements.
 Identify duplicate entries, unsupported postings, unusual adjustments, back-dated entries, incorrect
classifications and unreconciled suspense balances.
 Ensure corrections are passed through properly approved journal vouchers with a clear audit trail.

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2. Month-End and Year-End Closing
 Maintain and monitor a structured monthly closing checklist with responsibility and completion dates.
 Review cut-off for sales, purchases, goods received, goods in transit, expenses, customer returns, supplier
claims and inventory transfers.
 Verify accruals, prepayments, provisions, depreciation, amortisation, foreign-exchange differences and other
period-end adjustments.
 Reconcile the general ledger with all subsidiary ledgers before monthly and annual financial statements are
finalised.
 Report unresolved closing items, quantify their financial impact and follow up until correction.
3. Financial Statements and Management Reporting
 Review monthly trial balance, statement of profit or loss, statement of financial position, cash-flow statement
and supporting schedules.
 Ensure all financial statement balances are traceable to reconciled ledgers and supporting records.
 Perform monthly variance analysis against budget, prior month and prior year, with particular attention to
revenue, gross margin, landed cost, freight, warehousing and operating expenses.
 Validate gross profit by product, customer, branch and sales channel, and investigate abnormal or negative
margins.
 Assist the Finance Head in preparing accurate management accounts, board information, lender information
and statutory financial statements.
4. Sales, Receivables and Customer Accounting
 Review sales invoices, delivery notes, credit notes, discounts, rebates, returns and customer pricing against
approved terms.
 Reconcile sales registers, customer ledgers, inventory dispatch records, electronic fiscal records and the
general ledger.
 Review receivable ageing, credit limits, overdue balances, disputed invoices and expected credit-loss
provisions.
 Confirm customer balances periodically and follow up differences with Sales and Finance.
 Monitor collections, receipts allocation and cash or mobile-money settlements to prevent unallocated or
misapplied receipts.
5. Purchases, Payables and Supplier Accounting
 Verify purchase orders, supplier invoices, goods received notes, import documents and payment approvals
through a proper three-way match.
 Review supplier ledger reconciliations, debit balances, advances, ageing, claims and unrecorded liabilities.
 Confirm that freight, clearing, insurance, port, handling and other directly attributable costs are correctly
allocated to inventory or expense.
 Review supplier payments for completeness of documentation, duplicate-payment risk, agreed credit terms
and correct withholding or other tax treatment.
 Obtain and reconcile supplier statements regularly and ensure old differences are resolved.
6. Inventory, Warehousing and Landed Cost
 Reconcile inventory quantities and values between the ERP/accounting system, warehouse records, goods
received notes, dispatch documents and the general ledger.
 Review product codes, units of measure, batch or lot information, warehouse transfers, damaged goods,
samples, breakages and customer returns.

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 Verify landed-cost calculations for imported construction materials, including purchase price, freight,
insurance, clearing and other attributable costs.
 Participate in periodic and surprise stock counts; reconcile physical stock with book stock and investigate
shortages, excesses and slow-moving or obsolete items.
 Review inventory valuation, ageing and provisions, and ensure stock write-offs or adjustments are properly
authorised.
7. Cash, Bank and Treasury Accounting
 Review daily cash and bank postings, petty cash, bank charges, transfers, deposits and payment vouchers.
 Ensure all bank accounts are reconciled monthly and reconciling items are supported, aged and cleared
promptly.
 Review foreign-currency purchases, payments, receipts, revaluation and realised or unrealised exchange
differences.
 Verify that cash collections are deposited intact and promptly and that access to cash, banking platforms and
payment instruments is appropriately segregated.
 Review borrowing, interest, bank facilities and related accounting where applicable.
8. Tax and Statutory Accounting Compliance
 Reconcile VAT, withholding taxes, payroll-related taxes and other statutory balances between returns, control
accounts and underlying transaction records.
 Review the accounting treatment of imports, local purchases, taxable sales, credit notes and exempt or zero-
rated transactions, where applicable.
 Ensure returns and statutory payments are supported by reconciled schedules and submitted within applicable
deadlines.
 Maintain an organised compliance file containing returns, payment evidence, assessments, correspondence
and reconciliations.
 Support tax reviews, statutory audits and responses to the Tanzania Revenue Authority or other regulators,
under management guidance.