Audit Quality RCA Senior Manager
Date: 30 Aug 2024
Location: London, ENG, GB, EC2Y 5AU
Company: MHA
Who we are
Here at MHA , we take the time to create great relationships with our clients to become not just their trusted advisers, but valued partners that face the future together.
As a Top 13 firm of chartered accountants, tax and business advisers, we work in partnership with clients ranging from entrepreneurs and individuals to multi-national corporations. We work together to navigate an ever-changing business world and proactively identify the opportunities that tomorrow presents.
Leveraging our national network of offices, we offer a comprehensive range of financial and business strategy services to clients across the UK, enabling them to achieve profitable growth and build sustainable long-term success.
As a member of Baker Tilly International, we have a global reach that allows us to offer our insight and expertise wherever our clients need us to be. We believe this makes us a national and international partner of choice for entrepreneurs and multi-national enterprises across the world.
Our agile and responsive approach means we are always on hand to have the right conversations about with clients at the right time, allowing us to identify their goals and business needs both now, and in the future.
Purpose of the role
This role is an opportunity to join our growing Technical Team to help manage the implementation of the firm’s audit quality strategy. You will be primarily responsible for performing Root Cause Analysis (RCA) and managing the monitoring and remediation processes relating to findings and deficiencies noted from internal quality reviews and external inspections.
This will involve working with the Head of Technical, Audit Quality Director, other members of the Technical Team, and the firm’s Audit Policy Group (APG) as necessary.
Main responsibilities
Audit Quality and Root Cause Analysis
- Lead development of the RCA methodology and oversee the performance of RCAs on internal and external inspections. This will involve developing an approach, gathering of evidence, analysis of findings, drafting a remediation plan, implementing and monitoring remedial actions, as well as managing key stakeholder relationships.
- Communicate RCA matters and findings via written reports, policies and guidance as well as firmwide training sessions held online and in person.
- Assist in formulating and implementing the firm’s audit quality strategy and plans, in conjunction with the Audit Quality Director, Head of Technical and APG. This will include the RCA sections of the firm’s audit quality improvement plan.
- Consider outcomes from RCA and quality improvement processes and regulatory audit inspections as necessary, and liaise as necessary with Learning & Development (L&D) and the Audit Methodology Team regarding additions to and improvements in guidance, methodology, and policies and procedures, along with relevant training.
- Support the adoption of the Audit Firm Governance Code and the definition and reporting of firm-level Audit Quality Indicators.
Other responsibilities
- Assisting with the performance of other quality reviews encompassing hot and cold file reviews, Engagement Quality Reviews (EQRs), and thematic reviews.
- Assistance with technical queries relating to audit and audit methodology.
- Feed into appraisals of other Technical Team members with whom you have worked closely.
Decision making parameters
- Referring any contentious issues to the Audit Quality Director and the Head of Technical, as appropriate.
- Differentiating and identifying root causes and causal factors from observations in respect of relevant areas of improvement addressed by root cause analysis.
- Devising remedial actions to relevant quality shortcomings identified by reviews and root cause analysis.
Qualifications and skills
- Fully qualified (ACA/ACCA or equivalent) with a minimum of 5 years post-qualified experience in a technical role, external audit or equivalent.
- Excellent working knowledge and practical experience performing audit quality reviews, particularly RCA.
- Demonstrable ability to work well within a team and on your own.
- Influencing – the ability to persuade others of your point of view.
- Communication – oral and written, the ability to deal with variety of people in different environments and the ability to challenge appropriately while embracing an open mindset.
- Organisational skills – the ability to successfully manage conflicting priorities.
- Manages change in a positive way.
- Up to date in CPE and recent developments in auditing standards.
- Competent user of the Microsoft Office Suite, including Excel & Word.
- Project a positive image of MHA.
Our application form takes just a few minutes to complete and includes some diversity questions. MHA is a committed member of Access Accountancy and as such, we track our diversity stats and actively work to improve on these, year on year, looking at new ways to promote our roles to the widest audience. Any data collected is fully anonymised before sharing with any external parties, as per our Data Protection Policy and is not visible to hiring managers, or used in any way during the selection process.
Req ID: 1465