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External Auditor
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Description
ANZSCO 221213 – Private and Public Advertisers (Government, Private & Corporate Professional, Scientific and Technical Services) Positions available 3,000+ NSW VIC QLD SA WA TAS NT ACT
External Auditor is responsible for creating and managing information and reporting systems, as well as establishing procedures and controls to fulfill external financial reporting obligations.
Indicative Skill Level:
In Australia and New Zealand:
External Auditor requires a level of expertise equivalent to at least a bachelor’s degree or a higher qualification is expected. Alongside the formal education, relevant experience and/or practical training might be necessary to fulfill the requirements. (ANZSCO Skill Level 1).
Depending on the circumstances, registration or licensing might be necessary.
Estimated salary guide aud$70,000 up to aud$95,000 per year.
Your key responsibilities may vary depending on the specific mining operation and the role you hold within the industry:
- Audit Planning: You are responsible for planning the audit engagement. This involves understanding the client’s business, assessing risks, and determining the scope and objectives of the audit.
- Risk Assessment: You identify and assess the risks of material misstatement in the financial statements. This includes understanding the client’s internal controls and processes to identify areas where risks might be higher.
- Internal Control Evaluation: You evaluate the design and effectiveness of the client’s internal controls. This assessment helps you understand the control environment and determines the reliance they can place on internal controls during the audit.
- Testing and Substantive Procedures: You perform various testing procedures to gather audit evidence. These can include substantive tests of transactions, analytical procedures, and tests of details of balances.
- Materiality: You determine materiality thresholds, which guide their assessment of whether potential miss-statements could impact the fairness of the financial statements.
- Audit Evidence: You gather sufficient and appropriate audit evidence to support their conclusions on the financial statements. This evidence might come from various sources, such as documentation, confirmations, observations, and calculations.
- Communication: You communicate with management and those charged with governance throughout the audit process. This includes discussing findings, addressing concerns, and requesting additional information.
- Audit Documentation: You maintain detailed documentation of their work, including the audit plan, procedures performed, evidence obtained, and conclusions reached. This documentation serves as a record of the audit process and provides support for the audit opinion.
- Independence and Ethics: You must maintain independence and adhere to ethical principles. This ensures objectivity and impartiality in their assessment of the financial statements.
- Audit Opinion: After completing the audit procedures, you issue an audit report. This report contains your opinion on whether the financial statements present a true and fair view in accordance with relevant accounting standards.
- Regulatory Compliance: You are subjected to regulations set by the Australian Securities and Investments Commission (ASIC) and the Australian Auditing and Assurance Standards Board (AUASB). Compliance with these regulations is essential for maintaining audit quality and credibility.
- Continuing Professional Development: You are required to stay updated with changes in auditing standards, regulations, and industry practices through continuous professional development. This ensures they have the knowledge and skills to perform effective audits.
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