Audit Associate

Job Description
Statutory Audit Associate (0 - 2 Years)

Role overview
We are hiring an Audit Associate to execute statutory audits of companies under the Companies Act, 2013, working under the guidance of an Audit Manager of Partner. The role suits a newly qualified CA candidate looking to build a strong foundation in assurance.

Key responsibilities
The Associate will carry out audit fieldwork end to end, from planning support to drafting the audit report, across clients in manufacturing, trading and services.

Planning and risk assessment
* Assist in understanding the client's business, internal controls and accounting systems.
* Help prepare the audit plan, materiality workings and risk assessment under the Standards on Auditing (SAs) issued by ICAI.

Audit execution
* Perform vouching, verification and substantive testing of revenue, purchases, expenses, fixed assets, inventory, receivables, payables and borrowings.
* Carry out analytical procedures and investigate significant variances.
* Test internal financial controls (IFC) over financial reporting where applicable.
* Obtain and reconcile external confirmations for bank balances, debtors and creditors.
* Attend physical verification of inventory and fixed assets at client locations.

Compliance and reporting
* Check compliance with the Companies Act, 2013, applicable Accounting Standards (AS / Ind AS) and Schedule III presentation.
* Prepare CARO 2020 reporting workings and draft observations.
* Review statutory dues (GST, TDS, PF, ESI) and related-party transactions.
* Assist in drafting the audit report, management letter and notes to accounts.

Documentation and client coordination
* Maintain complete, well-referenced working papers in line with SA 230.
* Raise and follow up on audit queries with client accounts teams.
* Meet assigned deadlines and keep the audit senior updated on progress and issues.
* Support tax audit (Form 3CD) and limited review assignments when required.

Qualifications and eligibility
Candidates should hold a CA degree, with hands-on statutory audit exposure from articleship or a first role.

Education - Chartered Accountant (newly qualified)

Alternatives considered - B.Com / M.Com with relevant audit experience; ACCA or CMA candidates

Experience - 0 - 2 years in statutory audit, including articleship with a CA firm

Preferred exposure - Audits of private and public limited companies; CARO and IFC reporting

Mobility - Willing to travel to client sites, sometimes outstation, during audit season