Audit Director Responsibilities

Auditing holds a significant role in ensuring the transparency of the financial transactions thereby revealing the facts and figures of any business organization. It figures out fraudulent issues and tracks the accuracy of the financial records and statements. The audit director responsibilities are thus important for any business unit.

Key Responsibilities of an Audit Director

Audit Director is responsible for effective planning and for conducting the audits to assess the operational efficiencies, risks and keep a control on it. Let us see in detail the key responsibilities that need to be handled by an audit director:

1. To identify and ensure that all the papers related to the audit are well-documented to provide sufficient evidence for audit discrepancies
2. To elicit data and information from the external and internal resources about the procedural audit methodologies and their related areas of functioning
3. To conduct an in-depth research on all the pertinent information like the reports, current issues, laws
4. To carry out the assigned duties within the given time,budget without compromising on the client satisfaction level
5. To keep himself abreast with the new trends in audit methodologies, rules and regulations and be acquainted with the latest laws
6. To assist in developing new audit plans and submit it for further approval

He conducts training workshops for the existing and new audit members. He trains them to be alert on the changes occurring and creates an awareness about the same. He participates in the meetings to promote new business solutions and ideas to the existing and prospective clients. This will assist in improving the efficiency of the operational procedures by initiating some procedural changes. He should be able to guide, supervise and resolve the issues of the team members in a timely manner. He should identify the discrepancies by conducting a thorough analysis of the the corporate books and other relevant financial records. He should immediately set up action plans and monitor it to address the issues and problems that are of great concern to the business unit.

Key Skills of an Audit Director

The post of an audit director holds great significance and needs to handle several important responsibilities. Thus to be an efficient audit director you need to imbibe at least some of the following key skills:

1. He should have an ability to function independently with good analytical ability
2. He should be able to prioritize his work and carry out all the essential functions in a timely manner by ensuring high level of customer satisfaction
3. He should be able to demonstrate a calm, patient approach while resolving the major audit issues
4. He should be able to build effective professional relationships ensuring a sense of confidence and trust amongst the internal and external resources. This is important while conducting research on the financial data and ensuring high quality of work
5. He should have a exceptional business judgmental skills, high degree of personal integrity combined with exceptional motivating ability
6. He should be able to lead, supervise and train the newly hired staff and inspire them to achieve maximum efficiency

Educational Requirements for an Audit Director

To get the dream job of audit director you need to have a bachelor's degree from an accredited university in accounting, finance, business administration, management or a closely related field. A CPA certification is an advantage.

Work Hours

Though the work hours are standard; falling in the range of forty to forty five hours per week, it is but obvious that being in a responsible position he will need to work for extended hours. By doing so it will only help in completing the audit within the allotted time. For this he may even be required to work on late evenings, nights or sometimes even on the weekends.

Salary Details

The salary offered is quite lucrative for those who have track record of handling various responsibilities in a similar profile with proven success supported by relevant educational qualifications.

Career Advancement

The career advancement opportunities are bright for those who perform the assigned tasks with a sense of responsibility thus ensuring their promotion to a senior position.

Thus, by now you must surely have realized and understood the importance of the audit director responsibilities for any business organization.