Oversee and assess the compliance of licensed audit firms with professional auditing standards, accounting standards, and relevant regulations, in order to enhance audit quality, ensure professional compliance, and support the integrity of the audit profession.
Key Responsibilities & Duties
Supervision of Audit Firms:
- Develop and implement periodic inspection plans for licensed audit firms.
- Conduct scheduled and unannounced field inspections of audit firms.
- Review audit firms’ practices, methodologies, and compliance with applicable professional standards.
- Follow up on inspection findings and monitor corrective action plans.
Inspection & Compliance Assessment:
- Review selected audit engagements and examine audit working papers to assess compliance with professional standards.
- Identify instances of non-compliance and professional violations.
- Ensure alignment with approved inspection policies, procedures, and methodologies.
Professional Findings & Reporting:
- Document inspection observations and professional findings in a clear and structured manner.
- Prepare and finalize inspection reports in accordance with approved templates and guidelines.
- Review additional information and responses submitted by audit firms following inspection findings.
- Contribute to preliminary and ongoing risk assessments related to audit firms and engagements.
- Identify high-risk practices or areas requiring enhanced inspection focus.
- Support the development of risk-based inspection approaches.
Supervisory Framework Development:
- Contribute to the development and update of inspection manuals, procedures, and quality review frameworks.
- Ensure consistency with national regulations and internationally recognized professional standards.
- Support the continuous improvement of inspection methodologies.
Coordination & Stakeholder Engagement:
- Coordinate with internal departments and relevant committees on inspection-related matters.
- Act as a point of contact with audit firms during inspection activities.
- Provide inspection-related information and reports to relevant stakeholders when required.
Professional Development & Awareness:
- Participate in professional development initiatives related to audit quality and inspection practices.
- Contribute to awareness efforts regarding professional standards and compliance requirements.
Qualifications & Requirements:
- Bachelor’s degree in Accounting or a related field.
- Minimum 3 years of experience as an External Auditor in an audit firm.
- Strong knowledge of professional auditing and accounting standards.
- Proficiency in Arabic and English (written and spoken).