Anyone interested in advancing their career in auditing will be eager to learn more about the job description and job specification of an audit assistant. This field has its own advantages and necessitates a highly specialized role in finance, accounting, economics, or other relevant subjects.
This article focuses on providing you with the necessary details about audit assistant jobs and how you can leverage your skills for an optimum result.
Before it begins, it’s important we understand,
What is Audit?
EconomicTimes define audit as,
An audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation.
An audit can be done in two ways: internally and externally. Internal audits are done either by employees or the heads of departments of an organization. External audits are mostly done by a self-governing auditor or a separate firm.
The law mandates every publicly listed firm to get their accounts audited by a self-governing auditor before the closing period or any time in between the years. In India, chartered accountants from ICAI have the authority to conduct independent audits of any firm.
What is the job description for audit assistant jobs?
Audit assistant jobs‘ work duties and responsibilities revolve around the financial and accountancy matters of a company. Audit assistants must regularly assist in analyzing a company’s financial reports and ensure the company’s compliance with the legal guidelines.
These auditors generally work for a bigger firm that has large financial transactions to look after. They support the senior auditor in terms of providing suggestions and any modifications that need to be made to improve the current status of the company.
Audit assistants are expected to
- Prepare and maintain audit budgets.
- Build internal auditing systems and guarantee their right usage and application.
- Ensure the organization’s compliance with existing laws and liable duties.
- Verify the company’s financial statistics.
- Plan and direct the company’s financial audits
- Assist the accounting and auditing teams regularly.
- Prepare audit reports and statements for review.
- Be answerable to the client’s query.
What is the job specification for audit assistant jobs?
Audit assistant jobs in Bangalore require professionals who have completed specialized courses in finance, economics, accounting, or any other relevant subject. The job description emphasizes the individual’s practical experience gained during his studies. Mostly, it requires a bachelor’s or master’s degree in accounting or a related field. Aside from that, there are other job specifications that audit assistant jobs in Bangalore involve.
- Practical experience during study time
- strong grasp on research and analytics.
- team player
- excellent verbal and written communication skills.
- Project planning and time management skills
- Knowledge of accounting and office software
- Confidentiality and sensitivity
- Quantitative aptitude
What are the types of audits?
Audit assistants can choose to be financial assistants or account assistants as per their interests and choice of field. They can also enroll themselves as an accounting technician and payroll manager.
There are different kinds of audits that an audit assistant has to assist in. These audits encompass their specific responsibilities. Types of Audits are:
- Internal audit
- Management audit
- Tax audit
- Statutory audit
- Information system audit
- SOX and Clause 49
- Due Diligence Audit
Ending note
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