- Audit Intern
- Audit Senior
Audit Intern
Job at KKCO East Africa LLP
The audit internship responsibilities revolve around provision of assistance in verification of audit trail and support in all audit assignments.
KEY RESPONSIBILITIES/ACCOUNTABILITIES
Advisory
• Execute audit assistant functions to check the accuracy of accounting systems and procedures.
• Review, assess and recommend changes in accounting systems and controls of a business unit.
• Verify and inspect accounts receivable and payable ledgers and general ledgers for its accuracy.
• Check, inspect and reconcile bank deposits and payments.
• Inspect, test and assess software and hardware systems for its failure.
• Check all accounting and clients’ databases are updated and functioning properly.
• Study, inspect and assess, budgets, balance sheets and other related financial statements and records.
• Review and recommend changes in internal controls.
• Check and verify accounting books and records are in conformity with industry practices and corporate policies.
• Ensure compliance of regulatory guidelines and generally accepted auditing standards.
KEY PERFORMANCE MEASURES
• Quality and neatness
• Timeliness of reports
• Responsive to client needs
• Positive attitude
KNOWLEDGE, EXPERIENCE AND PERSONAL ATTRIBUTES.
Qualification
Minimum education level:
Bachelor’s degree in finance/Accounting from a recognized institution
• CPA(Finalist)
• ACCA (Finalist)
Personal Attributes
• Attention to detail and organized
• Proactive and team player
• Ability to handle pressure
• Have a positive attitude and the drive to excel
• Requires minimum supervision
• Good communication skill
• Demonstrates Leadership abilities
Audit Senior
Job at KKCO East Africa LLP
Responsible for undertaking complex audits and all aspects financial audit in accordance with the
International Standards on Auditing (ISAs) and ensuring compliance with International Financial
Reporting Standards (IFRS) as well as other regulatory requirements. The job involves leading a
team and will be responsible for planning and effectively complete assignments in a timely manner.
1. Accountancy
• Understand all International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) and continue to develop knowledge and skill in the interpretation of management information. Keep up to date on financial statements disclosure requirements.
• Develop specialist knowledge according to own portfolio.
2. Paper-less audit (CCH)
• Thoroughly understand and use the CCH Pro audit software to execute audit assignments.
• Attach/review working papers through CCH software
• Complete/review planning and sign off completion sections
• Advanced computer capabilities.
3. Audit Administration
• Exercise leadership and adopt a commercial approach to auditing; drafting the planning memorandum and budget; organising confirmation letters, and attendance at stock takes; be in charge of the day to day progress of the audit; brief and train junior staff, review their work and ensure field work is completed to a high standard and on time; monitor actual time against
budget; notify and resolve with the assignment partner/team leader technical problems; draft appraisal forms for junior staff.
• Monitor the execution of assigned audit engagements and review the work as each section nears completion, be responsible for Audit Completion and Opinion Summary (CCH).
• Responsible for Audit Quality Control – ref ISQC-1.
• Thoroughly understand all international auditing standards and apply accordingly in all audit engagements.
• Represent the firm in attending AGM and Board/Trustee meetings.
• Train and mentor associates and interns.
• Perform other job related duties as necessary.
4. Evaluating Systems and Responding to Weaknesses
• In respect of complicated systems and specialized undertakings, complete and evaluate the Internal Control Procedures, identify key controls and assess effect of weaknesses (CCH).
5. Transaction Tests
• Draft/tailor a transaction test programme in respect of complicated systems including specialized undertakings; apply the theory of statistical sampling.
• Carry out transactions and substantive tests on complicated computer systems; recognise the circumstances where computer audit specialists need to be involved; assist with introduction of test data and interrogation programs.
6. Substantive Tests
• On all complicated engagements, tailor a programme of substantive test and be responsible for the difficult parts of an audit e.g. stock valuation, taxation, accounts presentation including supplementary statements, handle in strict confidentiality senior staff payroll tests.
7. Management Letters/Reports
• Follow up points raised in the management letters of previous years; draft the ML report points showing amounts queried and discuss with client; draft/review the whole of the current year’s management letter or, at least, those parts for which he and his assistants have carried out the detailed work.
• Be proficient in report writing.
8. Financial statements
• Prepare financial statements in compliance with IFRS and IFRS for SMEs, Kenyan Companies Act, ICPAK Sample Accounts and other regulatory requirements.
• Purpose to ensure that financial statements are of high quality as per the firm standard.
• Ensure that notes and appendix to the financial statements are in agreement with the statement of comprehensive income and statement of financial position.
• Identify and review key accounting ratios and, on all large or complicated clients, carry out an analytical review of the accounts; tailor and completethe audit programme on the statement of comprehensive income, Review the P/L schedules.
• Ensure that lead schedules are completed and cross-referenced to the financial statements. Section conclusions are documented.
• Draft an audit opinion on the financial statements based on the audit work done.
• Present the financial statements/reports to management, board and or AGM.
9. Taxation
• Be responsible for ensuring that proper tax computations and schedules are prepared.
• Understand well PAYE, VAT systems, WHT procedures, iTax and Tax Returns. Ensure total compliance and report to the partner/manager situations where tax problems are likely to arise.
10. Client billing
• Liaise with partner/manager in charge and ensure timely billing and debt collection.
11. Self Development and Training
• Ensure that you attend at least 45 hours of structured training in house or external co-ordinated by KKCO Training unit every year.
• Undertake to familiarize self with relevant industry activities, events, new laws.
• Continuously participate in self development activities.
• Ensure that you have at least 3 formal meetings with mentor.
Key Performance Measures
1. Quality as defined in KKCO Quality Control Manual
2. Timeliness in audit completion, reviews and reports
3. Responsiveness to customer needs.
4. Good knowledge in use and application of CCH audit system.
5. Submission of timesheets
6. Training CPD requirements
Application process
If you believe that you are the right candidate, please email your application to recruitment@kkcoeastafrica.com clearly indicating the position you are applying for in your email subject and attach your CV
Visit Here > KKCO Careers
Apply on or before 31st October, 2024.
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