WHAT DOES AN AUDIT MANAGER DO?

The Audit Manager possesses a comprehensive understanding of the business's processes, risk profile, and strategic objectives, ensuring alignment with the General Internal Audit (GIA)’s risk-based audit plan. This role focuses on evaluating the effectiveness of governance, risk management, and internal control systems, particularly in finance, risk, and regulatory areas. The manager actively engages with stakeholders to define audit scopes and deliverables, ensuring clear communication and impactful findings through robust root cause analysis.

A Review of Professional Skills and Functions for Audit Manager

1. Audit Manager Duties

  • Leadership: Develop, coach, and manage Audit Specialists to support their ongoing development and in the execution of the annual audit plan.
  • Analysis: Support in the development of opinions on the risk and control environment across the Group.
  • Analysis: Seek and analyze relevant information and integrate data from different sources.
  • Reporting: Support in Audit and Risk Committee reporting.
  • Time Management: Deliver multiple audit assignments on time, in accordance with IA methodology.
  • Management: Manage and perform issues assurance activities on a quarterly basis.
  • Relationship Building: Establish, influence, build, and maintain relationships with key stakeholders.
  • Risk Assessment: Understanding the risks and control environment within areas of focus.
  • Continuous Improvement: Support in the delivery of GIA’s continuous improvement program.
  • Attention to Detail: Identify irregularities/errors in the audit review process.

2. Audit Manager Details

  • Audit Theory: Deep understanding of audit theories and procedures on client engagements.
  • Procedure Execution: Perform audit procedures on assigned audit areas.
  • Issue Resolution: Identify and resolve client audit issues.
  • Feedback Provision: Review staff work product while providing constructive feedback and identifying developmental needs.
  • Opportunity Development: Assist managers in developing operational and control opportunities, client presentations, and selling opportunities.
  • Policy Preparation: Enforce audit standards; prepare policies, procedures, and manuals in accordance with internal and regulatory requirements.
  • Weakness Identification: Identify areas of weakness and engage with Operational.
  • Writing: Write thought leadership commentary/blogs and technical articles for BDO.
  • Public Speaking: Participate in interviews and panel discussions representing BDO and Audit initiatives.

3. Audit Manager Responsibilities

  • File Review: Conducts a review of service center-business office files.
  • Report Management: Reviews and distributes reports as needed for the proper functioning of the business.
  • Workflow Management: Manage WIP, Open Ticket, Policy Adjustment, EOM closing, parts inventory, and others.
  • Procedure Implementation: Ensures that office procedures are communicated and implemented uniformly across all service centers.
  • Training Delivery: Provides continuous training to office staff by creating and maintaining training materials for office staff.
  • Calendar Management: Manages calendars, conference calls, and conference room schedules.
  • Meeting Preparation: Prepares agendas and sign-up sheets for operations meetings and events.
  • Confidentiality Maintenance: Maintains the confidentiality of all corporate, personnel, and research matters.
  • Communication Handling: Answers incoming calls and correspondence and responds independently.
  • Alignment with Company Values: Demonstrates behaviors consistent with the company's vision, mission, and values in all interactions with customers, co-workers, and suppliers.

4. Audit Manager Job Summary

  • Engagement Management: Manage all aspects of audit engagement including planning, fieldwork, and review.
  • Work Paper Review: Review work papers and reports to ascertain compliance with both professional auditing standards and company policy.
  • Problem Resolution: Resolve problems, finalize work papers, and financial statements timely for signoff by the partner and issuance of audit report.
  • Supervision: Oversee multiple audit engagements simultaneously and independently within allotted time budgets.
  • Supervision: Supervise and mentor audit staff through technical guidance and education.
  • Client Relationship Management: Develop and maintain a positive working relationship with clients through addressing client needs, resolving audit issues, and making recommendations.
  • Growth Identification: Identify and promote areas of growth for the firm.
  • Hands-on Experience: Hands-on experience in handling listed companies' audit, due diligence, and IPO projects.
  • Planning and Leadership: Plan and lead the team to execute audit assignments.

5. Audit Manager Accountabilities

  • Understanding Development: Develop a thorough understanding of the business processes, risk profile, and strategic objectives.
  • Adaptability: Reacting and responding to the evolving demands of the business.
  • Strategic Input: Provide input into the development and ongoing appropriateness of GIA’s risk-based audit plan.
  • Evaluation: Assess the effectiveness of governance, risk management, and systems of internal control.
  • Stakeholder Engagement: Engage with business process owners to agree on audit scope and deliverables.
  • Project Management: Take responsibility for end-to-end audit delivery on a timely basis and within budget.
  • Specialization: Particular focus on finance, risk, and regulatory.
  • Specialization: Act in a specialist/advisory capacity for finance, risk, and regulatory topics.
  • Communication: Provide clarity of messaging, both verbally and in report writing, which clearly communicates control weaknesses identified.
  • Analysis: Application of root cause analysis to drive impactful value-add audit findings.
Relevant Information
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