The Audit Manager is responsible for managing a portfolio of audit and assurance engagements, overseeing audit teams, and ensuring that engagements are completed efficiently, professionally, and in compliance with applicable auditing and financial reporting standards.
The role involves managing client relationships, reviewing audit work, resolving significant accounting and audit matters, developing team members, and supporting the Partners in practice management and business development activities.
Key Responsibilities
- Manage a portfolio of audit and assurance engagements from planning through completion.
- Develop appropriate audit strategies and plans based on an understanding of the client's business, operations, internal controls, and key risks.
- Ensure engagements are performed in accordance with the Philippine Standards on Auditing, applicable financial reporting standards, the firm's audit methodology, and relevant regulatory requirements.
- Monitor engagement progress, budgets, deadlines, staffing requirements, and deliverables.
- Review audit working papers and financial statements to ensure that sufficient and appropriate audit evidence has been obtained.
- Identify significant accounting, auditing, internal control, and financial reporting issues and recommend appropriate solutions.
- Ensure all significant audit findings and outstanding matters are resolved before the audit report is issued.
- Coordinate with component auditors, specialists, internal auditors, and other professional advisers, where applicable.
- Support the Engagement Partner in forming audit conclusions and finalising audit reports.
Client Relationship Management
- Serve as the primary point of contact for assigned clients.
- Develop and maintain strong professional relationships with clients management, finance teams, and those charged with governance.
- Communicate audit findings, internal control deficiencies, accounting issues, and recommendations clearly and professionally.
- Manage client expectations and ensure the timely submission of information and completion of agreed deliverables.
- Identify opportunities to provide additional audit, assurance, accounting, tax, or advisory services, subject to applicable independence requirements.
Team Leadership and Development
- Lead, supervise, coach, and motivate audit teams throughout each engagement.
- Allocate work based on team members experience, competence, and development needs.
- Provide timely guidance and technical support to team members.
- Review staff performance and provide constructive feedback after each engagement.
- Participate in recruitment, training, performance evaluation, and career development activities.
- Promote a professional, collaborative, accountable, and quality-focused working environment.
Quality and Risk Management
- Ensure compliance with the firm's quality management policies, ethical requirements, and independence procedures.
- Identify engagement risks and promptly escalate significant matters to the Engagement Partner.
- Ensure proper documentation of professional judgments, consultations, and conclusions.
- Monitor compliance with client acceptance, continuance, conflict-of-interest, and customer due diligence requirements.
- Assist with internal and external audit quality reviews and regulatory inspections.
- Keep abreast of developments in auditing, accounting, financial reporting, ethics, and regulatory requirements.
Practice Development
- Assist Partners with the preparation of audit fee proposals, tenders, presentations, and engagement letters.
- Participate in client meetings, networking activities, and business development initiatives.
- Contribute to the improvement of the firm's audit methodology, templates, policies, and operating procedures.
- Assist with resource planning, engagement scheduling, fee monitoring, billing, and collection.
- Undertake other professional and administrative responsibilities assigned by the Partners.
Qualifications and Experience
- Bachelor's degree in Accountancy, Finance, or a related discipline.
- Professional accounting qualification such as CPA, ACCA, or an equivalent recognised qualification.
- At least five to eight years of relevant external audit experience, including supervisory or managerial experience.
- Experience managing statutory audits of private companies, groups, and other entities.
- Strong working knowledge of Phlippine Financial Reporting Standards and applicable regulatory requirements.
- Experience with group audits, consolidation, and audits involving component auditors would be advantageous.
- Proficiency in audit software and Microsoft Office applications.
Skills and Competencies
- Strong technical accounting and auditing knowledge.
- Effective engagement and project management skills.
- Strong analytical, problem-solving, and professional judgment.
- Excellent written and verbal communication skills.
- Strong leadership, coaching, and people-management capabilities.
- Ability to manage multiple engagements and meet demanding deadlines.
- Commercial awareness and a client-service-oriented mindset.
- High standards of professionalism, integrity, confidentiality, and ethical conduct.
- Ability to work independently and collaboratively in a team environment.
- Willingness to travel or work at client locations when required.
