Statutory Audit || Seniors / AM Job Description Template
The Statutory Audit Seniors/AM will be responsible for overseeing the audit process, ensuring accurate financial reporting, and guaranteeing compliance with statutory requirements and internal policies. This role demands a thorough understanding of financial auditing and the ability to work collaboratively with different teams.
Responsibilities
- Manage and conduct statutory audits in compliance with regulatory frameworks.
- Review financial statements for accuracy and compliance.
- Assess and improve internal control systems.
- Provide guidance and support to junior audit staff.
- Prepare detailed audit reports with findings and recommendations.
- Collaborate with internal and external stakeholders to ensure audit requirements are met.
- Identify areas of financial risk and recommend mitigation strategies.
- Stay updated with changes in auditing standards and regulations.
Qualifications
- Bachelor's degree in Accounting, Finance, or a related field.
- Professional certification such as CPA, ACA, or ACCA.
- Minimum of 3-5 years of experience in statutory auditing.
- Strong knowledge of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).
- Proven ability to manage and lead audit teams.
- Excellent written and verbal communication skills.
- Attention to detail and strong analytical skills.
Skills
- Financial Auditing
- IFRS
- GAAP
- Internal Controls
- Risk Assessment
- Audit Reporting
- Team Leadership
- Communication
- Analytical Skills
- Compliance
Frequently Asked Questions
A Statutory Audit Senior/Assistant Manager primarily ensures compliance with financial regulations by leading audit engagements. They analyze financial statements, conduct risk assessments, and manage audit teams. They also communicate audit findings with clients, ensuring their financial processes align with statutory requirements. Their role is critical in maintaining transparency and accountability in financial reporting.
To become a Statutory Audit Senior/Assistant Manager, a candidate typically needs a degree in accounting, finance, or a related field, along with professional qualifications such as CPA or CA. Relevant experience in audit, preferably within statutory audits, is crucial. Strong leadership, analytical skills, and familiarity with auditing standards are also essential for advancement into this role.
The average salary for a Statutory Audit Senior/Assistant Manager varies depending on location, industry, and experience level. Typically, salaries reflect the heavy responsibility and expertise required in the role. Factors such as company size, sector, and individual qualifications can significantly affect earning potential, making it beneficial to research industry-specific salary trends for a more accurate figure.
Qualifications for a Statutory Audit Senior/Assistant Manager usually include a bachelor's degree in accounting or finance, alongside professional certifications such as CPA, ACCA, or CA. Practical experience in statutory audits is crucial, and advanced understanding of financial reporting standards and regulatory requirements is necessary. Skills in leadership and communication are also highly valued.
Key skills for a Statutory Audit Senior/Assistant Manager include analytical thinking, effective communication, and strong leadership capabilities. Responsibilities involve overseeing audit processes, ensuring compliance with statutory requirements, managing audit teams, and liaising with clients. A deep understanding of financial reporting standards and meticulous attention to detail are essential for success in this role.