Job title/position:
DPP 2LoD Senior Manager
Number of positions:
Two (2)
Function and Business Unit: Audit - DPP National: Audit & Assurance
Office: Johannesburg or Cape Town
Description of the role and purpose of the job:
We are looking for a candidate who has at least four years practical audit review experience and who is passionate about audit quality to work within a dedicated team of Second Line of Defense (2LoD) reviewers to help engagement teams meet KPMG South Africa's audit quality requirements and initiatives.
Purpose of the position:
• To form an integral part in the Second line of defense team and perform reviews of audit engagement files in the firm (during the audit process and immediately prior to audit opinion sign off) to identify deficiencies in audit quality and non-compliance with the KPMG Audit Execution Guide (methodology), KPMG Policies, International Standards on Auditing (ISA), Public Company Accounting Oversight Board (PCAOB) standards and International Financial Reporting Standards (IFRS), as applicable.
• To assist and play an important role in implementation of audit quality initiatives in the firm.
• To assist with determining remedial actions to be implemented by audit teams to enhance audit quality across all audit engagement files and provide audit quality support, including coaching and training, to audit teams within the firm. Participation in assisting with the implementation of these remedial plans.
This position can be filled through a permanent internal transfer from Audit (or other function to the extent that the applicant has the required skills), a long-term secondment from audit or another function (ie 18 - 24 months - out of the box experience) or an external appointment.
Key responsibilities:
- Perform 2LoD reviews on selected engagement files in line with global policies and programmes.
- Being part of the team that liaises with DPP, Risk management and Quality Performance Liaison Partner (QPLP) to identify the risk areas to focus the 2LoD in addition to items on the global programme
- Discuss and report findings from the 2LoD reviews to engagement teams, including Partners and EQCRs, and assess whether significant findings have been adequately resolved before the audit opinion is signed.
- Assist engagement audit teams, as part of the 2LoD review process, with guidance and coaching in relation with the KPMG Audit Execution Guide (KAEG) (KPMG audit methodology), KPMG policies, International Standards of Auditing (ISA's), PCAOB standards, ISAE, ISRS, the International Standards Reporting Manual (ISRM) and locally issued South African Auditing Practice Standards (SAAPS) and JSE reporting guide.
- Assisting with the preparation and presentation of training to engagement audit teams on trends identified during the 2LoD reviews, relating to KAEG, KPMG policies, Clara (audit software tool), ISA's, ISRM and SAAPS.
- Stay up to date with developments in local standards, ISA's and PCAOB standards through timely attendance and completion of training, involvement in internal research and involvement on local topic teams.
- Stay up to date with developments in IFRS through attendance and completion of firm training.
- Assist in reporting 2LoD review results to key stakeholders within the firm, specifically to the Head of Audit, Head of Risk and the Audit and Assurance Quality Council (AAQC).
Skills and attributes required for the role:
- Keen interest in researching and dealing with audit & assurance related matters
- Ability to respond and adapt to changes quickly
- Interest and drive to enhance audit quality
- Good working knowledge and understanding of ISA, PCAOB, ISAE, ISRS, ISRM, SAAPS's and JSE listing rules and requirements.
- Good working knowledge of accounting reporting standards, specifically IFRS
- Strong problem solving and analytical skills
- Proactive and being a "self-starter"
- Works well under pressure
- Good organisational and time management skills
- Able to deal with various tasks at once and meet deadlines
- Strong communication, presentation and interpersonal skills (including writing), including coaching and training skills
- Able to deal effectively with challenges from individuals at all levels within KPMG
- Ambition to contribute to building a successful department
- Ability to think strategically and apply commercial acumen to the direction and development of the department
- Able to work independently and as part of a team
- Good computer skills (Microsoft Word, Excel and PowerPoint)
Minimum requirements to apply for the role (including qualifications and experience):
¾ Chartered Accountant (or equivalent qualification) with experience in performing QP reviews or coaching or audit technical support or similar experience.
¾ Minimum of five (5) years of audit engagement review experience post articles ( cumulative experience in the roles of manager and/or senior manager).
¾ History and proven track record in achieving audit quality ( satisfactory ratings for recent QP and/or regulatory reviews).
