Profession audit supervisor

Audit supervisors oversee audit staff, planning and reporting, and review the audit staff's automated audit work papers to ensure compliance with the company's methodology. They prepare reports, evaluate general auditing and operating practices, and communicate findings to the superior management.

Personality Type

• Conventional / Enterprising

Knowledge

• Financial statements

  The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

• International financial reporting standards

  The set of accounting standards and rules aimed at companies listed in the stock exchange which are required to publish and disclose their financial statements.

• National generally accepted accounting principles

  The accounting standard accepted in a region or country specifying the rules and procedures to disclose financial data.

• Audit techniques

  The techniques and methods that support a systematic and independent examination of data, policies, operations and performances using computer-assisted audit tools and techniques (CAATs) such as spreadsheets, databases, statistical analysis and business intelligence software.

• Corporate law

  The legal rules that govern how corporate stakeholders (such as shareholders, employees, directors, consumers, etc) interact with one another, and the responsibilities corporations have to their stakeholders.

• Tax legislation

  Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.

• Internal auditing

  The practice of observing, testing, and evaluating in a systematic manner the processes of the organisation in order to improve effectivity, reduce risks, and add value to the organisation by installing a preventive culture.

Skills

• Observe confidentiality

  Observe the set of rules establishing the nondisclosure of information except to another authorised person.

• Develop audit plan

  Define all organisational tasks (time, place and order) and develop a checklist concerning the topics to be audited.

• Prepare financial auditing reports

  Compile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.

• Interpret financial statements

  Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

• Pose questions referring to documents

  Revise and formulate questions in regards to documents in general. Investigate about the completeness, confidentiality measures, style of the document, and specific instructions to handle documents.

• Prepare audit activities

  Prepare an audit plan including both pre-audits and certification audits. Communicate with the different processes in order to implement the improvement actions that lead to certification.

• Communicate problems to senior colleagues

  Communicate and give feedback to senior colleagues in the event of problems or non-conformities.

• Arrange audit

  Arrange a systematic examination of books, accounts, documents, and vouchers to ascertain how far the financial statements present a true and fair view, and to ensure that the books of accounts are properly maintained as required by law.

• Ensure continuous preparedness for audits

  Ensure constant compliance with standards and requirements, such as keeping certifications up to date and monitoring activities to ensure correct procedures are followed, so that audits can occur smoothly and no negative aspects can be identified.

• Supervise staff

  Oversee the selection, training, performance and motivation of staff.

• Analyse financial performance of a company

  Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

Optional knowledge and skills

Source: Sisyphus ODB