Statutory Audit - Assistant Manager

Email your resume: [HIDDEN TEXT]

Job Title: Assistant Manager – Audit & Assurance

Years of Experience: 3-6 years

Location: Mumbai

Department: Audit & Assurance

Reports to: Partner

Email Resume: [HIDDEN TEXT]

Connect with Ms. Uttara Srinivas (Human Resources) here.

About the Company

Bhuta Shah & Co. LLP is a fast-growing, multi-disciplinary Chartered Accountancy firm with a strong pan-India presence. Our practice spans Direct Tax & Regulatory, Transaction Advisory, Audit & Assurance, Indirect Tax, Corporate Finance, Due Diligence, Forensic, Outsourcing, Legal, Technology and Risk Consulting, etc.

Key Responsibilities:

1. Statutory Audit Execution

• Execute statutory audits in accordance with Standards on Auditing (SAs).
• Review financial statements and ensure compliance with Indian GAAP, Ind AS, IFRS, Companies Act, and applicable regulatory requirements.
• Handle CARO reporting, audit documentation, and preparation of audit observations/reports.
• Perform risk assessment, substantive testing, and evaluation of internal financial controls (IFC).
• Coordinate with client stakeholders for audit queries, schedules, and issue resolution.
• Assist in finalization of accounts, reporting packages, and group reporting requirements.
• Review and guide junior team members to ensure timely completion of engagements.

2. Financial Reporting & Compliance

• Verify compliance with applicable accounting standards, Companies Act requirements, and financial reporting frameworks.
• Review financial statements, schedules, notes to accounts, and annual reports.
• Identify accounting inconsistencies, reporting gaps, and compliance issues.
• Assist clients in implementing audit recommendations and corrective actions.

3. Risk Assessment & Internal Controls

• Understand business processes and evaluate internal control systems.
• Identify financial and operational risks impacting audit engagements.
• Conduct walkthroughs and control testing across key business cycles.
• Report internal control weaknesses and recommend process improvements.

4. Client Coordination & Stakeholder Management

• Coordinate with client finance teams for audit data, schedules, and clarifications.
• Handle audit queries and communicate observations professionally.
• Maintain strong client relationships and ensure timely resolution of issues.
• Participate in discussions with senior management regarding audit findings.

5. Audit Documentation & Reporting

• Prepare and maintain audit working papers and supporting documentation.
• Ensure audit files are complete, accurate, and compliant with firm standards.
• Draft audit observations, management letters, and audit reports.
• Support managers and partners during audit reviews and finalization.

6. Team Collaboration & Supervision

• Guide articles/associates during audit execution.
• Review junior team members work for quality and accuracy.
• Ensure timely completion of assigned tasks and adherence to engagement deadlines.
• Contribute to team learning and knowledge-sharing initiatives.

7. Process Improvement & Quality Assurance

• Identify opportunities to improve audit efficiency and controls.
• Ensure adherence to internal audit methodologies and quality standards.
• Stay updated with changes in accounting, auditing, and regulatory requirements.

Key Performance Indicators (KPIs)

• Timely completion of audit engagements
• Quality and accuracy of audit documentation
• Compliance with audit and accounting standards
• Client satisfaction and responsiveness
• Identification of audit issues and risk areas
• Effective coordination and team management

Qualifications & Skills:

• Qualified CA with 2–4 years of experience in statutory audit.
• Strong knowledge of accounting standards, auditing standards, and financial reporting.
• Experience in handling audits independently.
• Proficiency in MS Excel and audit documentation tools.
• Good analytical, communication, and stakeholder management skills.