Audit Readiness Consultant Job Description
Audit readiness consultant
provides technical guidance and counsel to management regarding the application of generally accepted accounting principles and cost accounting standards for government contractors.
Audit Readiness Consultant Duties & Responsibilities
To write an effective audit readiness consultant job description, begin by listing detailed duties, responsibilities and expectations. We have included audit readiness consultant job description templates that you can modify and use.
Sample responsibilities for this position include:
Document business processes in narrative and risk control matrix format, according to OMB A-123 requirements
Perform analysis of business processes to identify key risks and internal controls
Perform analysis of business processes and internal controls to identify risks and help develop mitigation strategies
Ability to utilize knowledge of Federal accounting and transaction processes, internal control objectives and generally accepted accounting principles (GAAP) to provide corrective actions for audit readiness and remediation
Serve as a direct liaison to auditors and key stakeholders to provide audit support through each phase of the client’s financial statement audit
Prepare responses to auditor questions relating to audit samples for review and approval by the Government
Ensure that audit samples provided to auditors are accurate, complete, compliant with client policy/Federal regulations, and have been reviewed and approved by the client prior to submission to auditors
Review work products to ensure technical accuracy, deliverable quality, and overall value to client
Report potential and actual delinquent items to client management
Provide suggestions to management leaders and external clients to improve client internal controls
Audit Readiness Consultant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Audit Readiness Consultant
List any licenses or certifications required by the position: CISA, CPA, CGFM, CDFM, CISSP, CIA, CFA
Education for Audit Readiness Consultant
Typically a job would require a certain level of education.
Employers hiring for the audit readiness consultant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's Degree in Accounting, Finance, Business, Economics, Business/Management, Information Technology, Technical
Skills for Audit Readiness Consultant
Desired skills for audit readiness consultant include:
Business processes
GAAP
GAAS
Similar accounting
DoD working capital funds
Financial management practices
Practical field work in governmental accounting and auditing
Financial statements focusing on federal accounting
–123
Accounting with a focus on government accounting standards and audit standards
Desired experience for audit readiness consultant includes:
Research accounting pronouncements to support the development of white papers
Support the preparation of presentations and briefings, and participate in client meetings and day-to-day interactions
Attend appropriate training, business seminars and/or conferences to stay up to date with technical skills that align with the firm’s direction and changes in the industry
Perform an initial audit assessment to identify any potential risks based on the previous year’s audit findings
Participate in walkthrough meetings with process owners
Develop test plans and test controls for operating effectiveness
Audit Readiness Consultant Examples
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Audit Readiness Consultant Job Description
Job Description Example
Our growing company is looking for an audit readiness consultant. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for audit readiness consultant
- Research new accounting pronouncements and identify opportunities to improve overall operational efficiency
- Validate data elements to meet reporting parameters
- Support research and analysis on audit regulation and policy relating to audit requirement standards
- Provide data analysis in support of high-risk audit areas
- Perform initial audit readiness reviews and assessments to identify any potential risks and control gaps based on the previous year’s audit readiness findings
- Test controls related to OMB A-123, SFFAS 6, SFFAS 10, SFFAS 23, and FIAR
- Document and update process flow documentation and/or procedures
- Review, edit, and develop Policies and Procedures to meet the audit readiness objectives as part of the Corrective Action Phase
- Develop internal controls and related test plans to support internal test work in preparation for a financial statement audit
- Test controls related to OMB A-123 and FIAR compliance
Qualifications for audit readiness consultant
- Develop Notification of Findings and Recommendations (NFRs) to formally communicate to management material weaknesses, significant deficiencies and internal control deficiencies in order to mitigate risks identified during substantive and internal control testing
- Support documenting, analyzing and evaluating all audit related test results to determine effectiveness of controls in all assertion areas
- Develop and implement Corrective Action Plans (CAPs) to address material weaknesses identified through audit findings, control assessments and testing
- Perform reconciliations of budgetary and proprietary accounts, general ledger and subsidiary ledger accounts, other program accounts, and finance and accounting systems
- Represent client leadership at meetings in support of audit activities
- Perform quarterly and year-end financial reporting/financial statement analysis and footnote disclosure
2
Audit Readiness Consultant Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of audit readiness consultant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for audit readiness consultant
- Ability to review, analyze, validate, and reconcile financial/accounting information
- Ability to review and provide guidance on the creation/updates of financial improvement plans, test plans, and audit sustainment requirements
- Assessing solution audit readiness and evaluating internal control processes
- Evaluating the Oracle ERP solution for compliance with applicable federal laws, regulations and policies
- Performing risk assessments to identify potential DoD Agency risks and mitigation strategies
- Performing Compliance Readiness Assessments of the DoD solution to assist in planning and preparation for future compliance audits
Qualifications for audit readiness consultant
- Readiness Exp
- Certifications including CPA, CDFM, CGFM, CISA, or PMP (preferred)
- Demonstrated experience with formulating and evaluating audit support documents and responses
- Prior experience assessing/auditing Federal Financial Management solutions and processes for compliance with applicable laws, regulations and statutes
- Prior experience planning and implementing risk management activities in for financial management in Federal or Defense workspace
- Prior experience planning and executing Compliance Readiness Assessments