Audit Staff Responsibilities
The audit staff reports to the manager or the partner of the organization.
Audit staff responsibilities include the preparation and maintenance of the financial reports, examining the profit and loss, deriving conclusions based on the reports and making the necessary recommendations.
Evaluation and analysis of the financial data and verification of general ledger entries are some of the basic functions.
Key Responsibilities of Audit Staff
To excel in the field of auditing you must first be well-acquainted with the key responsibilities handled by the audit staff. The audit staff plays an important role in identifying, prioritizing and measuring the risks involved in an organization. Here is a detailed description of basic responsibilities of audit staff:
- He should efficiently handle the auditing of the financial statements of the client
- He should acquire a detailed knowledge about the firm's financial engagements
- He should take on the responsibility of performing various auditing procedures under a senior's supervision by applying the current auditing principles and accounting procedures
- He should constantly interact with the clients and the internal employees to increase the efficiency of the team
- He should be well-acquainted with the company's procedures and policies. He should ensure that the audits carried out are in compliance with the company's rules and regulations
- He should maintain complete confidentiality of the financial matters of the organization and the client
He also needs to perform some additional duties which are as under:
- To prepare clear, transparent work papers that have followed the standards outlined and have well-defined conclusions
- To make meaningful recommendations
- To make maximum use of the various information technology tools to complete the assigned work
- To conduct a detailed research on audit issues and analyze the results of audit work
- To train the new members on the auditing procedures and provide them a detailed insight into the rules and regulations to be followed
- To detect and prevent fraud is another most important duty of the auditing staff
Essential Skills of Audit Staff
If you are planning to make a career in auditing you can make an entry by applying for audit staff position. Before you apply, make sure that you have at least some of the following essential skills:
- Good interpersonal communication skills are a must to communicate with the client as well as with the colleagues in the organization
- Should be able to work in a team and should be able to lead the team in case a senior person is absent
- Should be proficient in handling computers and be well-versed with the usage of accounting software and spreadsheet programs
- Should have an ability to multi task and complete the assignments within the given time constraints
- A thorough professional co-operative attitude combined with a quality of dependability and reliability
- An eye for detail with excellent time management and organizational skills
Educational Requirements of Audit Staff
A bachelor's degree in accounting from an accredited university is the minimum requirement. An advanced qualification will definitely prove to be an advantage. If an individual is trying to achieve a CPA qualification it will only add to your qualification.
Work Hours for Audit Staff
The audit staff members work in a normal office work environment. Their work hours usually last for forty to forty five per week. They may need to work for extended hours during the tax season or during the end of the fiscal year.
Career Prospects for Audit Staff
The career prospects for audit staff members are really bright and they have good chances of getting promoted to the managerial positions.
In the coming years there is definitely going to be an increasing demand for the audit staff members. So if you are aspiring to make a career in this field and wish to climb up the ladder of success you will need to shoulder the audit staff responsibilities effectively and efficiently.