What are the responsibilities and job description for the Audit Manager position at W3Global Inc.?
Job Description
Job Description
JOB PURPOSE :
The purpose of the Audit Manager is to organize and manage internal audits while making recommendations on policies and ensuring that the Firm fulfills obligations of compliance. By utilizing talents and by projecting and planning the timing of the workload, the Audit Manager is expected to promote the most efficient operation of the Firm. The Audit Manager must have complete knowledge of the Firm's philosophy and be familiar with reports, policies and its opinions on financial matters. The Audit Manager works under very limited supervision and can perform all responsibilities of the Audit Supervisor, as well as the responsibilities listed below.
JOB DUTIES AND RESPONSIBILITIES :
Technical
Correspond directly with the client's attorneys or brokers, taxing authority agents and other third parties as necessary
Consistently ensures compliance with Firm and professional standards
Is an effective business advisor, demonstrating broad based accounting, tax and business skills
Prepare the billings. Properly justify negative variances and bills for "value added" when appropriate
Analytical
Review the audit programs prepared by the other team members and evaluate internal controls. Change audit programs as necessary throughout the engagement
Communication
Prepare the engagement letter for approval by a Principal and obtain the signed engagement letter prior to start of the engagement
Respond to client inquiries regarding the services and fees
Lead both in-house and client meetings with appropriate agendas, goals and action items
Keep the Senior Audit Manager or Principal informed of all important developments surrounding the engagement. Throughout the engagement, present problems that occur, with conclusions and recommendations.
Project Management
Maintain expertise in current professional practice
Review team assignments prepared by the Audit Supervisor and verify assignments are appropriately distributed
Discuss audit programs and existing budget with the Senior Audit Manager or Principal and obtain their approval prior to fieldwork
Verify all engagements are properly scheduled by the Audit Supervisor. Ensure staffing of each engagement is scheduled and appropriate
Follow the progress of the work during an engagement in relation to budgeted time and scheduled dates of completion
Ability to determine whether all phases of the engagement are being carried out properly and in the best sequence
Oversee and delegate the preparation of the report drafts by the Audit Supervisor, Senior Auditor and / or Staff Auditor based on technical expertise
Follow the drafts through processing, answering any questions that arise by the client or staff. Submit the draft reports to the Senior Audit Manager or Principal for discussion of practice review comments and supervise the distribution according to the client's instructions
Supervise the preparation of management letters and / or tax returns
Monitor your engagements to maintain high realization and minimize write offs
Develop realistic budgets with the approval of the engagement principal. Take ownership for achieving the budgeted results
Ability to manage multiple engagements and administrative duties simultaneously
Proper utilization of the Firm's financial and human resources
Development and Motivation of Others
Prepare and discuss team performance evaluations for the personnel under the Audit Manager
Be an effective buddy / mentor to your assigned Supervisor or Senior. Meet with them regularly, review performance reviews and provide professional guidance as needed
Effectively distributes team strengths
Consistently encourage team members to take on new challenges to further their development
Provide effective on-the-job training and supervision
Client Relations
Contact clients throughout the year to touch base, share news articles of interest, standard / pronouncement updates and assist with any issues
Be aware of the client's impression of the conduct of the engagement
Perform full presentations at client exit conferences of the following : financial statements, management letters and / or tax returns
Respond in a timely manner to client questions and requests
Develop and maintain positive relationships with key officers of client and other client personnel
Effectively handle business and tax inquiries of client
Initiate new and extended client services
Take initiative - function as principal where appropriate
Practice Development
Participate on a board or other community activities to further develop your leadership skills
Assist in obtaining high-quality new clients from leads generated by others. Participate in the proposal process, oral presentations and pricing and risk assessments for potential clients
Identify additional services for your clients and introduce appropriate Firm personnel who can help to communicate the value of such services to the client
Seek guidance / suggestions developing your personal marketing efforts
Continue to develop and maintain contact with set key individuals in your network
Invest 150 hours in effective practice development activities such as prospect / referral meetings
Support of Firm
Gain an understanding of Firm decisions and support management publicly
Offer constructive criticism and solutions to problems
Assume responsibility for delegated administrative duties
Act in the best interest of the Firm, even if doing so requires actions and responsibilities not listed in the above job description
Self-Development
Maintain independence with attestation clients in fact, and in appearance, in accordance with AICPA and GAGAS standards
Regularly commit time to professional and personal development
Provide frequent positive examples for engagement staff
Demonstrate willingness to take action to improve performance
Seek out opportunities to contribute to the Firm in ways other than direct client service, such as recruiting, process improvement, staff development and retention, etc.
Work with Firm management to create and maintain momentum in a niche of specialization by industry or service expertise
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