Principal Consultant - Statutory Audit

Employer : Leading CA Consulting Firm

Location : Mumbai

Designation : Principal Consultant-Stat Audit

Experience : 10yrs+

Reporting to : Partner

Role

Peer Review:

Final check on:

- quality of delivery

- application of service delivery methodologies

Practice development:

- Implementing and maintaining service delivery methodologies

- Ensuring uniform audit practices across the firm

- Updation of manuals and methodologies keeping in the mind the dynamic environment

- Uniform implementation of Auditing Standards across the firm

- Developing methodologies for new areas practices

- Standardization of procedures for existing work

- Preparing partners meeting presentation

- Preparing for regular Partner manager meeting

- Planning for all audit clients and coordination with other departments

- Monitoring Project management for all clients within audit

- Research updation

- Technical support to own and other practices

- Knowledge management

- Implementation of software tools for audit

- Releasing alerts on regular basis

Administration:

- Planning & Scheduling of engagements and staff

- Engagement profitability

- Billing & Collection

- Preparation of Budgets for the Practices

- Budget V/s Actual comparison and analyze the reasons

- Preparation of Business Plan for the Practice

- Business development

- Client relationships

- Relationships are properly maintained

- Quality of delivery

- Timeliness of delivery

- Revision in fees

- Regular meetings with clients

- Pricing strategy

- New products

- Presentations

- Sales materials

- Sales pitches

- Review of Flyers

- Proposals

- Pipeline management

- Engagement acceptance terms

Training:

- Developing a training module for staff and ensuring that the same is adhered to

- Induction training

- Staff training on technical matters

- Soft skill training for staff

- Outside training at seminars

Resource Management:

- Staff Appraisals

- Interviews

- Training

- Increments

- Proper Job descriptions based on the work being handled

- Building teams

Employee Retention:

- Review of efficient and effective planning, selection and team management of all resources throughout the year including temporary resource redeployment within team / with other departments,

- Building of team morale and motivate people in the team and firm,

- Address issues at emotional / infrastructural level at work being faced by teams, take responsibility for team building and motivation of teams

- Identifying training needs of teams and assist in skill building where deficiencies identified,

- Ensure on-boarding and process training happens for new employees

- Perform timely appraisal and provide balance between firm and employee aspirations

- Develop the next manager, and other subordinates for the next levels

Crisis Management:

- Resolve by providing upfront solutions under engagement / practice crisis situations

The work under the assurance division consists of the following:

- Statutory Audit of Companies / Firms / Banks etc.

- Audit of Government Companies appointed by the CAG

- IFRS Convergence

- Group reporting

- US GAAP conversion from Indian GAAP

- Concurrent audit of Banks – only large forex and investment divisions only

- BFSI experience – Stat, internal and concurrent

- Certification work including remittance certificates

- Limited Review

- Tax Audits

- Audit Committee presentation

- Accounting opinions

- XBRL

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Saket
saket@phenomplacement.com