1) Execution & Reporting: - Type of audit (Operational, Conformance, Investigative and Management) - Conducting a methods study of all activities of the locations being audited and suggest improvements - Using PC as a tool of audit to improve the areas of coverage - Assessing adequacy and correctness of accounting records - Carrying out adhoc reviews to investigate any area identified - Checking the processes and ensuring internal controls systems are adequate - Ensuring proper segregation of duties and study the adequacy of the same - Ensuring compliance to various statutes applicable, accounting standards and also compliance with the company procedures and policies laid down - Identifying non value added activities - Ensuring that audit findings are correctly and factually reported - Providing inputs for improvements in internal control systems, processes, avenues for cost savings and profit maximization - Ensuring that the report is concise and should convey the observations and create the desired impact on the reader
2. Following up on implementation of audit suggestions: - Constant written follow up with auditees for implementation of audit suggestions - Periodic meetings with the auditees - Reporting the implementation of the audit suggestions periodically, and summarizing the implementation status - Recording the reasons for non-implementation wherever applicable
3. Documentation: - Preparing work papers during audit activity - Documenting process flow chart, collect and file relevant policies and procedures - Maintaining copies of all query sheets - Documenting how the query has been resolved - Having proper referencing with all documents and audit points - Assisting in preparing the audit check list and internal control check list and to update the audit check list and internal control check list periodically - Filing properly all documents and work papers for easy retrieval in future - Analyzing control flow charts for key business processes and critical parts of key processes, with a view to identify weaknesses - Efficiency of use of resources, duplication of work, adequacy of control procedures. Travelling is required in this role.
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