Statutory Audit Manager – Financial Services – CA Promaynov Advisory Services

The Corporate Institute; Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

The Corporate Institute in Mumbai seeks an audit professional to join our External Audit team. You will deliver assurance services to clients ranging from fast-growing to large entities, helping strengthen governance and the reliability of client information.

Responsibilities include planning audits, guiding juniors, and applying Indian GAAP, Ind AS, IFRS with knowledge of US GAAP. Experience with ERP systems and strong client communication are valued.

Qualifications

• Sound knowledge of Indian GAAP and Ind AS.
• Familiarity with IFRS and US GAAP preferred.
• Experience with Big 4 or industry audit roles.
• Ability to manage multiple engagements and mentor staff.
• Strong risk management and quality controls.

Responsibilities

• Plan and supervise audits from start to finish.
• Guide junior team members and reviews.
• Define engagement scope balancing risk and value.
• Negotiate billing schedules and raise invoices.
• Apply regulatory updates and ERP knowledge in engagements.

Skills

Audit Framework

Ind AS

IFRS

US GAAP

ERP Systems

MS Office

Communication

Team Leadership

Billing & Invoicing

Tools

SAP

Tally

Oracle

Job description

Job Description & Summary:

A career in our Financial Services Audit practice, within External Audit services, will provide you with the opportunity to provide a range of Assurance services and business advice to a variety of clients from small, fast growing clients to large entities. Our clients are often well known brands and many have broad international reach. We focus on using the latest technology to reduce the level of manual testing ensuring you’ll focus on the most valuable areas of client service and on enhancing corporate governance and the reliability of our clients’ information.

Our team helps financial organizations navigate regulatory complexity while strengthening trust and transparency in their business. Our clients cover industries within banking and capital markets, broker dealer, Asset managers, NBFCs, private equity, AIFs, insurance, investment advisors and consumer finance. While many of the rules of business have changed, the fundamentals haven’t. You’ll work alongside senior members of the client’s management team in planning the audit process from beginning to end, ensuring completeness, accuracy and fair presentation of our client’s information.

Responsibilities:

• – Should possess sound technical knowledge of Indian GAAP, Ind AS as well as IFRS and working knowledge of US GAAP.
• – Should have worked with reputed India firms (candidates from Big 4 firms or from industry with prior audit experience – not away for more than 2 years from audit – would be preferred).
• – Can actively manage multiple small and/ or medium-sized engagements simultaneously, or a large multi-location engagement, involving on an average 3 or more staff. Adopts a holistic approach to the engagement by:

1. 1. understanding the rationale for the engagement;
2. 2. making a conscious effort to understand the client’s industry and business; and
3. 3. having skeptical and critical thinking.

– Contribute to quality and timely reviews. Guiding the junior team members on timely basis.

– Negotiate billing (Fees & Expenses) schedules and raising invoices accordingly.

– Is able to actively define the scope of the engagement so as to maintain a balance between risk, effort, cost and expected value add to the client.

– Apply rigorous financial controls and focus on successful completion of agreed deliverables while maintaining quality and risk management priorities.

Mandatory skill sets:

• – Demonstrate thorough knowledge of the Audit Framework w.r.t:

1. 1. Sampling guidance
2. 2. Working paper requirements (including re-performance standards)
3. 3. Overall quality requirements

– Demonstrate ability to tailor and use appropriate methodology/ practice aids/work plan for use during a client engagement.

– Technical skills – recent amendments and regulatory requirements, Ind AS, RBI regulations, IFCFR, basic understanding of SOX, basic understanding of ERP systems like SAP/Tally Oracle, etc.

– Stay at the forefront of technical, industry and business issues, regulations and developments and maintain all required qualification(s)/ credentials.

– Demonstrate knowledge of risk management and the protection of intellectual assets including Firm policies and procedures; perform work in accordance with standards.

– Contribute to learning and education, design activity or instruct at training events.

Preferred skill sets:

• – Thorough technical knowledge on Corporate Law, Accounting Standards, Auditing Standards, CARO, Companies Act.
• – Basic knowledge of Indirect tax, FEMA and Transfer Pricing.
• – General business awareness.
• – Project management – leading the project from the front, timely execution and completion, ability to foresee project pain areas and work out alternate solutions.
• – Address situations before they become crises and develop solutions to avoid recurrence.
• – Good communication, interpersonal and presentation skills, ability to discuss with and handle senior management of clients; connecting well with clients and team members.
• – Report writing – clarity of thought, articulation of observation/ issues, good command over written language.
• – Involving in business development and contributing to sales – ability to prepare good proposals, effectively handle client presentations.
• – General – self starter, highly committed, self motivated, driven by objectives and high value system.
• – Working knowledge of MS Office – Word, PowerPoint and Excel.