An auditing manager’s job description may evolve based upon the department that they are responsible for overseeing. The standard role that a manager will play includes examining financial statements, to ensure they are compliant with all laws and regulations and if the safeguards are in place. Additionally, the manager will be responsible for overseeing the work produced by supervisors and auditors within the department.
Auditing managers will be responsible for delegating work out to the team and analyzing the reports that are returned for each audit conducted. Taxes may need to be computed, and account books may need to be inspected.
Other responsibilities include:
•Assessing financial operations
•Making recommendations for best practices
•Organizing financial records
Ultimately, the Auditing Manager is responsible for ensuring that the organization is not mismanaging funds. The manager will use an array of ways to identify and eliminate waste, as well as fraud. Ways to reduce costs and enhance revenues will be a daily part of the job. Communication will be focused towards the team of auditors, the VP of Internal Compliance, as well as to the various department heads that are being audited.
All financial data must come from a reliable source. This will be a significant role that the auditing manager is responsible for. The financial data included in any and all reports must come from a reliable source and be properly documented, before it can be included in an official report for the organization. To obtain this data, training may have to be conducted with the individual auditors, to ensure they understand where to look for information.
The auditing manager will be responsible for going into the field on occasion, especially for larger audits, to confirm the work provided by the auditing supervisors. When an audit comes back showing waste or fraud, it will be the responsibility of the manager to determine if the report is correct. Suggestions must then be made to the department to get them back into compliance, which may include additional policies and procedures to be created, more frequent audits, and the potential of obtaining new staff members for the department in question.
The Auditing Manager must ensure that all audits are turned in on time and contain no errors. This requires working closely with the rest of the department and keeping communication flowing.
Those who are interested in the Auditing Manager position must have experience with financial audits and hold a bachelor’s degree or higher.