Audit Trainee (AGA) SA - JHB and CT at Deloitte

Job Description

As outlined in the SAICA competency framework

• Applies procedures and controls to ensure integrity and security of personal IT resources, e.g. password protection, backup procedures, anti-virus measures etc.
• Applies project management techniques, such as developing milestones, managing resources, meeting deadlines etc.
• Asks appropriate and probing questions to obtain require information
• Assesses IT risks and how they are managed
• Effectively uses IT applications including spread sheets, word processing, presentation and e-mail
• Calculate a reasonable range of values for a business, using a combination of valuation techniques.
• Document the financial implication of an investment decision using the appropriate capital budget techniques.
• Identifies and documents financial and non-financial performance indicators that are key to the entity/business unit/audit engagement, including any industry specific benchmarks.
• Assess, evaluates and documents inherent risk and fraud risk at the Annual Financial statement (AFS) level.
• Calculate profitability, efficiency (activity), solvency and liquidity ratios from the financial statements
• Analyse and calculate, or evaluate the accounting for non-routine transactions, for example mergers and acquisitions, divestitures, provisions etc.
• Analyse and calculate or evaluate the accounting for routine (non-complex / simple) transactions.
• Based on the entity's financial reporting needs and the stakeholders identified, deciding on the appropriate accounting framework
• Close down of audit section(s), clearing of queries in order to evaluate the results of audit testing and determine whether sufficient evidence exists to support the conclusion on the audit work done.
• Consider and document the need to use computer assisted audit techniques to gather suitable audit evidence. This includes the use of data interrogation techniques such as STAR, pivot tables, sorting of data and filtering data
• Develop or evaluates accounting policies in accordance with the accounting framework.  
• Evaluate the results of substantive tests of detail in conjunction with planning materiality levels and to respond appropriately to the conclusion reached.
• Evaluate the results of the substantive analytical review procedures and conclude on whether (and where) more detailed audit testing is required.
• Perform and document the planned substantive analytical review and identify situations where follow up / extended work is required.
• Perform and document the planned substantive tests of detail and identify situations where follow up/extended work is required.
• Perform or evaluate reconciliations of financial information (e.g., bank reconciliations, accounts payable reconciliation, general ledger control account reconciliations, reconciliations between management accounts and the general ledger, etc.)
• Selects or evaluates accounting policies within the appropriate accounting framework that most fairly present the financial situation.
• Design appropriate substantive audit procedures (substantive procedures) for any significant account balance to gather evidence for each relevant assertion pertaining to that account balance, including the determination of sample sizes and methods of selection
• Design appropriate substantive audit procedures (tests of detail) for any significant account balance to gather evidence for each relevant assertion pertaining to that account balance, including the determination of sample sizes and methods of selection.
• Evaluate and document the assessment of inherent control risk and fraud risk factors at the relevant assertion level for each significant account balance.
• Identify and documents the significant risks that could result in material misstatement.
• Assess the impact of the findings on the work performed relating to internal controls, risk assessments and governance. This could include the identification of a change to the audit plan.
• Design appropriate tests of control, where decisions have been taken to perform tests of control or during the performance of testing the design and implementation of controls with the relevant business cycles, including the determination of samples
• Determination of sample sizes and methods of selection to obtain sufficient testing for the performance of tests of controls or the design and implementation of controls.
• Document the entity's key business processes and key controls (including IT controls) including the control environment, information system, business processes and control activities (general and application controls)
• Identify and document the key controls (including IT controls) within the significant accounting cycles or in respect of significant risks.
• Identify weaknesses in the client's internal control system (design), possible consequences of these weaknesses and to make practical recommendations for improvement by the client and assess the impact on the audit approach.
• Perform an evaluation of the likely effectiveness of the internal control system in each significant accounting cycle or if additional controls are needed and communicate ideas to supervisor.
• Perform and document the planned tests of internal control and identifies situations where follow up/extended work is required.
• Document the components of the entity's I audit engagement's governance structure and its role (i.e., board of directors, audit committee, etc.)
• Interview client and discern relevant information regarding knowledge of the business
• Identify when there may be a cash shortfall or excess funds and documents for review and input by others, possible action plans
• Close down and wrap up the audit so that the audit opinion is supported by the audit evidence gathered during the audit.
• Identify and communicate potential unlawful acts or omissions where there may be reason to believe that it may constitute a reportable irregularity.
• Draft a letter to management summarizing audit findings, making recommendations and showing consequences of not implementing the recommended changes.
• Preparation of specific report items identified from the performance of audit procedures, ensuring appropriate recommendations are made and obtaining responses from the appropriate level of management

Qualifications

Working toward AGA (SA) qualification or have completed the SAICA accredited degree

Additional Information

Technical/Specialized Capabilities:

• Ability to prioritise
•  Excellent communication skills across all mediums
• Negotiation ability
• In-depth understanding of business operations
• Ability to think strategically as well as understand the detail
• Networking skills
• Strong analytical skills
• Strong business acumen skills
• Strong Leadership skills
• Excellent computer literacy
• Project management skills
• Highly influential
• Ability to deal with pressure
• Ability to prioritise and multi-task
• Flexibility and embracing of change
• Ability to actively engage with people at all levels
• Strong relationship building skills
• Focused on client service and satisfaction
• Ability to work in a team
• High level of energy and enthusiasm