Audit Planning & Execution: Assist in developing the annual audit plan based on risk assessments, plan and execute assigned internal or external audit engagements within defined timelines and budget.
Data Analysis & Testing: Collate, check, and analyze financial and operational data, conduct transaction testing, and assess internal control systems to identify risks, control weaknesses, or process inefficiencies.
Documentation: Document all audit work, procedures, and evidence in a risk-focused manner and to a high standard, in accordance with department and professional standards.
Report Writing: Prepare comprehensive audit reports that clearly articulate audit objectives, scope, findings (including design gaps, non-compliances, and irregularities), associated risks/implications, and practical recommendations for improvement.
Communication & Presentation: Liaise with managerial staff and process owners to discuss observations and recommendations, ensuring findings and reports are understood and accepted.
Follow-up & Monitoring: Monitor and track the status of management's responses and the implementation of agreed-upon corrective actions resulting from audit findings.
Compliance: Ensure that all procedures, policies, and regulations are correctly followed and complied with, including specific requirements like the Long Form Audit Report (LFAR) and adherence to ICAI (Institute of Chartered Accountants of India) or AICPA (American Institute of CPAs) standards.