Audit Quality Assistant Manager / Manager (0395)

The Technical and Compliance Department (TCD) ensures that the Firm’s business is conducted in  accordance with applicable laws, regulations, codes, and standards issued by the regulators and  standard setters.  TCD also plays a vital role in the Firm’s system of quality management (SOQM)  through the performance of audit quality reviews on selected audit engagements, performing  monitoring activities in relation to the engagement performance and the development and delivery  of audit quality related guidance and training materials.  

As an Audit Quality Assistant Manager / Manager, you will play a key role in supporting partners and  staff to achieve audit quality in their engagement and ensure compliance with applicable auditing  and accounting standards. You will apply your audit knowledge and experience in supporting the  needs of the Firm with the main part of your role involving answering audit related queries, 
performing cold, in-flight and thematic reviews and issuing guidance and training on audit quality  initiatives.  You must be a strong team player and be able to work effectively within TCD and across  the Firm.  You must also have the ability to liaise with and win the confidence of senior partners and  staff within the Firm, the Firm’s network and externally including the Firm’s regulatory bodies.    

RESPONSIBILITIES

Audit Quality Reviews

• Performing audit quality reviews of selected audit engagements which includes, but is not 
• limited to, in-flight reviews, thematic reviews, follow-up of regulatory findings and cold file  reviews. 
• Preparing and submitting of reports on the findings from all audit quality reviews to the relevant  compliance  partners,  the  Professional  Standards  Committee  (PSC),  the  Audit  Quality  Oversight Team (AQOT), and, where required, the wider Firm. 
• Identification of areas for improvement in the Firm’s audit methodology and/or audit training  as  a  result  of  the  findings  from  the  audit  quality  reviews  and  delivery  of  those  actions  in  conjunction with other members of the Technical and Compliance Department (TCD). 
• Participating in the relevant audit quality projects and initiatives devised by the AQOT.  
• Undertaking a review of existing working practices, suggesting improvements and delivery of agreed monitoring and recommendations. 

Audit Quality Liaison & Queries

• Supporting in the development of audit quality sessions, guidance and materials for managers, RIs and engagement quality reviewers.  
• Responding to queries and information requests from the audit regulators, audit engagement teams and others in relation to audit quality matters. 
• Ensuring liaison and co-operation with divisional audit quality teams to ensure the objectives of AQOT are addressed and to identify findings and trends arising from divisional audit teams. 
• Providing support to the Technical and Compliance Department by answering audit related queries and development of audit related, including audit methodology, materials, and  training.
• Reviewing the audit reports of public interest entities and other entities in scope of the Firm’s  technical review requirements to confirm compliance with auditing standards, company legislation and applicable regulatory requirements. 
• Reviewing the proposed modified audit reports of the Firm’s audited entities prior to issuance. 
• Sharing best practices with audit teams to improve overall audit quality initiative that reduce risk and enhance audit quality. 

Monitoring & Remediation

• Undertaking the relevant audit quality related monitoring activities relating to the quality risks and responses devised for the Firm’s system of quality management and reporting the findings  of  those  activities  to  the  Technical  and  Compliance  Partner  (individual  responsible  for  monitoring and remediation).
• Involvement in the relevant root cause analysis requirements for identified deficiencies from  reviews of completed engagements and audit regulatory findings. This includes, but is not  limited  to,  taking  the  notes  of  those  meetings,  communicating  the  outcomes  from  the  meetings,  and  performing  the  monitoring  activities  to  ensure  the  remedial  actions  are  effectively implemented.    

SKILLS & EXPERIENCE

• Professional accountancy qualification (e.g. ICAEW, ACCA or equivalent) with at least 3 years post-qualification experience (Manager) / 1-year post-qualification experience (Assistant  Manager). 
• Good working skills, knowledge and understanding of the UK auditing requirements including legislation (e.g., Companies Act 2006), auditing standards (ISAs (UK)), the FRC’s Revised  Ethical Standard and accounting standards (UK GAAP and IFRS). 
• Previous experience working in audit practice and/or in a similar audit quality position. The role would also be suited to an auditor demonstrating strong technical aptitude looking to move into an audit quality role.  
• Able to develop and deliver audit quality training initiatives and materials.
• Deal with complex, multi-faceted issues and reach clear evidenced based conclusions.  
• Possess excellent communication skills (verbally and written).
• Proficient in Microsoft Office and other applications (Excel, Word, PowerPoint and SharePoint). 

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