Audit Manager Responsibilities

Auditing is important for any organization to reflect the transparency of the financial transactions by keeping a check if any fraud or error has occurred. Proper auditing helps the company to expand its business plans and puts pressure on the employees to work with complete honesty and integrity. Audit manager responsibilities need to be carried out effectively to broaden the horizons of any organization.

Key Responsibilities of Audit Manager

To make the transition from a junior position to an audit manager position requires a lot of learning and mastering of new skills. They must demonstrate excellent auditing skills and at the same time should be good listeners, communicators and good instructors. Here are some of the key responsibilities that need to be handled by an audit manager:

1. He should plan, organize the audit right from the start to the end according to the functioning of the internal audit to improve the efficiency
2. He should be able to include all the important and relevant details that are in compliance with the audit standards and the organization's goals and objectives
3. He should constantly develop new techniques and tools and ensure that they are implemented in an appropriate manner
4. He should motivate the audit staff by designing incentive and reward system keeping in mind the organization's policies
5. He should manage the key factors that play an important role in the working of auditing papers
6. He should try to build a rapport with the existing and prospective clients by establishing effective communication with them

In addition to these duties, he will also need to perform some other duties which are as follows:

• He should be able to measure the risks involved in auditing
• He should be able to train, guide and instruct the auditing team on the new methodologies that need to be adopted
• He should keep abreast with the latest auditing trends and try to implement them
• He should be able to manage the auditing team by trying to resolve their professional or personal issues
• He should effectively manage and document all the audit related work by delegating to his subordinates according to the priority of the work
• He should develop innovative methods to progress the auditing procedures
• He is involved in the budgeting of the auditing projects and evaluate the annual plans of audit. He reviews the work done by the staff members

Essential Skills of an Audit Manager

To ensure success in the role of an audit manager you need to have at least some of the following essential skills:

1. Thorough knowledge of different auditing concepts and ability to apply these advanced techniques in the auditing projects to improve the efficiency
2. He should be able to determine the material problems and resolve them
3. He should be able to review, evaluate and train the staff members
4. He should have an ability to multi task and handle multiple projects at one time
5. He should have a keen eye for details and should be able to figure out the errors in the financial transactions and reports
6. He should possess excellent communication skills both written and oral to maintain professional relationships with the clients as well as with the internal staff members

Educational Requirements of an Audit Manager

An audit manager should hold a master's or a doctorate degree in finance, tax or accounting. A professional qualification in accounting like a Certified Public Accounting or an auditing qualification will definitely prove to be beneficial.

Salary of an Audit Manager

The salary normally commensurates with the academic qualification and the relevant auditing experience.

Work Hours for an Audit Manager

Audit manager works in a normal office environment with work hours normally ranging between forty to forty five hours per week. He may need to travel occasionally. He may also be required to work extra depending on the priority of the project.

Career Advancement for an Audit Manager

You can definitely be qualified to be promoted to a senior position if you have demonstrated your auditing skills in the role of an audit manager.

Thus, for the growth of the organization, audit manager responsibilities need to carried out efficiently so as to ensure the smooth flow and reflect high moral value of the organization.