What does a senior auditor do?

A senior auditor in an internal audit space leads the audit team and is the face of the audit for the auditee. Senior auditor is responsible for planning, the audit, identifying key risk areas based on the planning discussions, closely monitoring execution of the audit, discussing issues, reporting and wrapping up the audit. While these are the KPIs usually discussed for a senior auditor; another critical role they play is of people management (both stakeholder and team management).

A senior auditor is like the financial detective of a company. They plan, execute, and wrap up investigations into a company's money matters, working with different types of organizations. Their job is to make sure all financial records and reports are accurate, complete, and follow the rules

A Senior Auditor is a person who looks at Governing processes accross organisations. Their role is to ensure that there are appropriate artefacts, evidence and data to support compliance of the organisations policies and procedures.

Senior Auditors in IT Companies Guardians of Trust: Ensure financial reporting accuracy and adherence to regulations. Tech-Savvy Watchdogs: Assess IT systems and controls for risks like cyber threats. Data Detectives: Analyze vast amounts of data to identify anomalies and potential fraud. Process Evaluators: Review internal controls and recommend improvements for efficiency. Collaborative Consultants: Partner with IT teams to identify and mitigate IT-specific risks. Remember: Their responsibilities can vary depending on the company size and industry.

A Senior auditor's work is not necessarily reviewing each and every transaction which has been audited by the assistants, but to ensure that the work has been done with utmost quality. So to say, he needs to take care that: - Sampling has been done correctly to ensure selection of relevant transaction which are sufficient to enable the auditor to form an opinion on the financials - The analytical procedures have been applied on the authentic data and validated by various data points . - The assistants have followed uniform approach through out the audit and haven't behaved differently for different transactions - That the concept of materiality has been applied in spirit and not just by the rulebook. Only illustrative list.

A Senior Auditor revolves around ensuring the accuracy and reliability of our company's financial information. They dive deep into internal controls, which are essentially the checks and balances in their financial systems. Think of it as making sure everything is running smoothly and there are no loopholes or errors in our financial processes. The focus extends to examining financial statements, where they meticulously review records like income statements, balance sheets, and cash flow statements. The goal is to identify any discrepancies, errors, or potential risks that could impact the integrity of the company's financial reporting.

After investigating a company's financial stuff, they share the results and suggestions with the company and other important people like external auditors, regulators, or investors. The results, called audit findings, point out what the company is doing well and where they can do better in handling money matters. The suggestions, or recommendations, are like helpful ideas to fix any problems found during the investigation. The senior auditor makes sure to explain everything clearly and convincingly in reports and presentations. They don't just stop there – they also check in with the company later to see how well they're doing in putting those suggestions into action.

In my experience a senior auditor is responsible for leading and overseeing the auditing process within a company. This includes examining financial records, ensuring compliance with regulations, identifying risks, and providing recommendations for improvement. They often supervise audit teams and communicate findings to management.

Provides oversight and recommendations, corrections and enlightenment to staff or , less qualified team members within his field of expertise and scope .

As a Senior Auditor, should perform continuous engagements and counsel the customers on the Audit findings, severity and recommendations. The key value addition here is Auditors expertise in the areas like industry best practices, standards derived by communities and learning experiences. The implementation outcome of those findings shall be continuously followed through follow up Audits to ensure the compliance and to protect the customer interest of achieving highest security in their environment.

Considero que todas áreas son criticas; sin embargo el control interno es vital en una empresa, una empresa con débil control interno es más vulnerable que se materialicen los riesgos, es por ello que un auditor senior debe cubrir el perfil necesario de acuerdo a sus competencias para poder identificar las áreas críticas de un negocio y el establecimiento de controles y mejoras que contribuyan con la eficiencia de las empresas auditadas.

Some of great skill to compliment the role are; Industry audit management certification Industry standard process management certification Industry project management certification Industry experience of minimum 8+ years in the technical domain of the related industry. Project management experience minimum of 200 hours. Good in communication and customer engagement. Good in Excel and equivalent tools.

In my opinion all these areas are critical as a senior auditor typically oversees and leads audit teams, reviews financial statements, ensures compliance with regulations, and assesses internal controls within an organization. They play a key role in evaluating and improving the effectiveness of financial reporting and risk management processes.

You are missing some key skills that senior auditor should also be seen to be a leader of…. - Regulatory comms and engagement (ASIC, ASX, APRA, ACCC, Senate Estimate, Treasury, BCA etc) - Board comms, risk management, board audit committees and internal audit oversight activities Happy to assist Vessa Playfair