The Audit Senior will be responsible for coordinating the day-to-day "in-charge" duties of planning, fieldwork and "wrap-up" to include the preparing of financial statements with disclosures, applying most areas of GAAP as necessary and documenting, validating, testing and assessing various control systems. This position is also responsible for acting as the client contact for basic questions and information and may be involved in reviews and agreed-upon procedure engagements.
External Job Description - Essential Duties/Functions
Applies knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures.
- As Auditor in charge is responsible to the engagement manager for the day-to-day conduct of the audit work and in particular for ensuring that the field work is executed and completed as planned, in accordance with timetable, with Firm’s policies and procedures and to budget
- Applies knowledge of transactional flow and key transactional cycles to complete audit work
- Documents, validates and assesses effectiveness of internal control system
- Determines and communicates improvements to client internal controls and accounting procedures
- Supervise the work of audit staff and review workpapers and conclusions and explaining any shortcomings to them
Applies knowledge and understanding of governing principles; applying these principles to client transactions; and documenting and communicating an understanding and application of these principles.
- Understand and effectively communicate financial statement disclosure requirements to clients
- Identifies and applies new pronouncements to client situations
- Identifies, analyzes and discusses alternative generally accepted accounting principles for the client, when necessary, with the Manager, Senior Manager and engagement partner
- Identifies complex accounting issues and brings them to the attention of superiors for resolution
SEC and PCAOB
Applies knowledge and understanding of SEC regulations and PCAOB guidelines, and documents and communicates the application of these principles.
- Reads and reviews clients’ SEC filings, ensuring accuracy and completeness, and also ensuring all financial information is supported in the workpapers and appropriately tested
- Prepares required communications to the Client and the Audit Committee
- Plans and executes Section 404 internal control audit including obtaining an understanding of the control environment, designing test plans, evaluating deficiencies and assessing the overall financial reporting control environment.
Applies knowledge and understanding of professional standards; application of the principles contained in professional standards; and the ability to document and communicate an understanding and application of professional standards on an engagement.
- Formulates and communicates the audit plan
- Applies GAAS to a variety of complex issues and consults others as appropriate
- Applies of audit skepticism and determines when to reduce or expand testing
- Uses BDO audit manuals as appropriate for the situation
- Documents deviations from BDO policy with approval
- Look for opportunities to suggest improvement to company’s internal controls and prepare draft communication required by professional standards.
Applies knowledge and application of BDO standards that guide effective and efficient delivery of quality services and products.
- Applies BDO audit approach and methodologies, including tools and technology, to execute the audit with quality, efficiency, and completeness despite pressures of deadlines
- Identifies and proposes outcomes to critical issues
Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on that information.
- Applies knowledge of the use of internal and external research tools and selects methodology for routine research requests
- Researches more complex areas of accounting and forms an initial opinion on the correct treatment independently and considers and documents the impact on the client and audit engagement
- Documents and organizes complicated findings in a usable format, based on information obtained from Accounting Research Manager, BDO Assurance Manual, Yahoo Finance, etc.
- Assist the engagement manager with gathering sufficient appropriate information about the business and information system, including the accounting system, to form an adequate basis for the preparation of the audit strategy
Coordinate timing of planning, fieldwork, and review with audit team and client and assist engagement executives in developing the audit engagement budget and identify appropriate resources.
- Develop the draft Audit Engagement Planning Memorandum, audit programs and budgets
- Establish with the engagement manager the responsibilities of individual audit staff for specific areas of audit work
- Monitor and report engagement budget to actual and advise engagement executives of possible overruns
- Supervise a team of audit professionals ranging in size from 1 to 5
- Provide verbal and written performance feedback to associates
- Teach/coach associates to provide on the job learning
Other duties as required
External Job Description - Qualifications
- Bachelors or Master’s degree in Accounting or equivalent
- Three (3) to five (5) years prior work experience
- Prior supervisory experience
- CPA preferred or actively studying for the CPA exam
- Microsoft Office Products, including Windows, Word, Excel, and Powerpoint
- Experience in the use of various assurance applications and research tools as is appropriate for this level
Other Knowledge, Skills & Abilities:
- Possess proven solid verbal and written communication skills
- Possess people development and delegation skills
- Possess executive presence - needs to be able to be primary contact for the client
- Able to "in-charge" all stages of the audit, including planning, fieldwork and "wrap-up"
- Able to perform the completion of an audit of a complex company
- Able to prepare and/or review financial statements with disclosures in accordance with GAAP requirements.
BDO USA, LLP - 15 months ago