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KRA & KPI Accounting Sector Introduction...
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Job description and responsibility
Key result area(kra) & key performance indicator(kpi)
Acounting sector
Audit Manager
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Introduction
An audit manager’s job is to organize and manage internal audits according to audit plans and must oversee the process of audits, make recommendations on policies, and ensure that the organization fulfills international and governmental obligations of compliance.
Soft Skill, Technical Skills and Certification:
Soft skills
Technical Skills and Certification
- Financial Accounting
- Certified Internal Auditor (CIA)
- CERTIFIED AUDIT MANGER(CAM)
- Accouting and Taxation Mastery
- GST Compliance and Return Filling
- Financial Services Audit Certificate (FSAC)
Job description
An Audit manager needs leadership and management skills and is responsible for overseeing the work of auditors, ensuring that they complete their assignments in a timely manner and meet all relevant deadlines. Audit managers also commonly provide guidance and feedback to their team members on how best to conduct audits and interpret findings. This may include providing training or coaching on specific techniques or methods used by the organization.
Job Roles and Responsibilities
- Conducting risk assessments to identify potential financial losses
- Communicating with internal parties such as human resources, accounting, IT, and security teams to ensure that audits are performed efficiently
- Drafting recommendations on corrective measures
- Advising executives
- Developing internal auditing processes
Key Result Areas(KRA) & Key Performance Indicator(KPI)
Sr. No. | KRA | KPI |
1 | Preparing and executing operational and monetary audits | No. of preparing and executing operational and monetary audits |
2 | Developing references and reports centered on audits and offering these concepts to the management Status | No. of references and reports developed, centered on audits and offering these concepts to the management |
3 | Ascertaining business process threats Mention If any | Detailed monthly report on ascertaining business process threats. |
4 | Developing professional development procedures for the low-ranking staff of the organization Status | Developing professional development procedures for the low-ranking staff of the organization, monthly report |
5 | How many reports generated with underlining problems and providing prospective Audit report | No. of reports generated with underlining problems and providing prospective Audit Report |
Example of KRA VS KPI Mapped in Organisation and Reporting
Sr. No. | Reporting by the employee | Reporting by the employee |
1 | Preparing and executing operational and monetary audits | Operational and monetary audits reports generated:2 |
2 | Developing references and reports centered on audits and offering these concepts to the management Status | Reports centered on audits:2 |
3 | Ascertaining business process threats Mention If any | Ascertaining business process threats Mention If any :0 |
4 | Developing professional development procedures for the low-ranking staff of the organization Status | Professional development procedures for the low-ranking staff of the organization reports :3 |
5 | How many reports generated with underlining problems and providing prospective Audit report | Underlining problems and providing prospective Audit Report: 4 |
Audit managers can be found in various work environments including corporate offices, government agencies, and accounting firms and their work time is the same as the business hours of the organization. Audit managers typically work on teams of auditors, and they may travel to different locations to conduct audits. The work can be stressful, and audit managers must be able to handle deadlines and pressure.
Salary
Audit Manager salary in India ranges between ₹ 2.4 Lakhs to ₹ 24.0 Lakhs with an average annual salary of ₹ 6.0 Lakhs.
Conclusion
With Experience in accounting and bookkeeping one can build a successful career as a Chief Accountant. Usually, they start as an intern or in a junior post and have to work to the level of being a senior Chief Accountant. They must also be familiar with the latest tax laws and regulations and other soft skills.
To get a Detailed Overview of the Accounting Sector, Click Here.Â
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