AUDIT ASSISTANT MANAGER
The Assistant Manager will work on a portfolio of clients reporting to various Audit Partners. The portfolio may include audits, accounts preparations and management accounts, as well as any other work from time to time which may reasonably be considered part of the role. The portfolio will be smaller than that of an Audit Manager, otherwise the key responsibilities are the same.
Key responsibilities and duties:
- The Assistant Manager will oversee smaller audit assignments from start to finish, managing teams of one or more trainees to meet reporting deadlines and client agreed deadlines.
- Review an audit risk analysis specific to the client with reference to the client’s activity in the year, the industry in which they operate, regulatory environments if applicable, and any other matters which may impact audit risk.
- Review preliminary analytical procedures on the draft accounts and identify how we plan to test the various audit assertions. Review materiality and sample sizes calculated.
- Ensure that the planning section of Audit Automation reflects all planning considerations and discussions, and is appropriately signed off.
- Plan audit tests which may involve, but is not limited to, physical inspection of assets, review of documents and requesting third party confirmations, and review evidence in support of conclusions to each audit test.
- Ensure that results and conclusions of audit work are documented in Audit Automation fieldwork section, and is fully signed off.
- Review the completed accounts and ensure compliance with all necessary disclosures as required by accounting standards, including completion of a disclosure checklist where considered necessary.
- Review adjusted journals for any errors identified which are in excess of materiality, or otherwise considered necessary to adjust for.
- Review list out any unadjusted journals separately during the course of the audit, to be provided to the client once the assignment has come to its conclusion.
- Prepare a list of points for Audit Partner to highlight key issues to the intended reviewer of the file.
- Review a schedule of audit highlights summarising the key points for each section of the file.
- Review a schedule of points forward to next year for any matters which we will to be brought to our attention in the following year.
- Research accounting or tax issues as and when required, and document the research with references.
- Review current processes and provide recommendations to enhance company policies and procedures to be included in a letter to management, then discuss these with the client.
- Prepare or review a letter to management and letter of representation for each audit.
- Review and update any notes to the accounts and assess that the necessary disclosures have been made in accordance with the applicable accounting standards.
- Ensure Audit Automation completion section has been fully completed and signed off.
- Liaise with AH CT department around the collection of information on tax-sensitive categories, and regarding a draft CT provision for the accounts.
- The Assistant Manager will oversee the completion of accounts from start to finish including;
- Agreeing dates with the client
- Requesting information from clients
- Reviewing the completed accounts and ensuring compliance with all necessary disclosures as required by accounting standards.
- Sending accounts to the client for approval
- Reviewing any amendments
- Finalising accounts
- Filing with Companies House
- Prepare or review consolidation workings where appropriate.
- Update any notes to the accounts and assess that the necessary disclosures have been made in accordance with the applicable accounting standards.
- Review a draft tax computation.
- Prepare or review a list of points for Audit Partner to highlight key issues to the intended reviewer of the file.
- Accurate completion of budgets to reflect actual time spent, where budgets are prepared.
- You will be required to become familiar with the following during the course of your work: Sage, Xero, QuickBooks and CCH including Accounts Production and Audit Automation, and any similar software a client may use to maintain their accounting records.
- Liaise with team members using both Microsoft Teams and Zoom
- Review the compliance of the business with all relevant internal requirements, industry regulations and government legislation.
- Ensure forms like AH KYC, ID and Risk Assessment are filled in periodically.
- Although not engaged to identify potential instances of fraud, if you come across any information which appears to be indicate fraudulent activity, to notify the firm’s MLRO.
- The Assistant Managers are responsible, along with Audit Managers, for team admin including preparing for team meetings, catch-ups, team member holiday approval, inductions, work organisation in the work planner and other team communication. Additionally they are responsible for supporting trainees in the audit and accounts process.