Experienced Audit Associate Responsibilities

As the name says, experienced audit associates are expert accounting specialists who verify the financial information. They are responsible for preparing budget analysis by carrying out detailed study of the organization's financial status. The experienced audit associate responsibilities also include providing suggestions to the organizations about various financial and investment planning schemes and strategies. The experienced audit associates are also experts in finance related legal matters and provide legal consulting to the clients. They generally keep a track of their client records and are responsible of paying taxes on time. The experienced audit associates generally work in any of the following auditing fields:

Public
Management
Government
Internal Auditing

The experienced audit associates are generally provided with complicated and complex financial issues. Some of the common duties of an experienced audit associate are as follows:

Audit and Accounting: The experienced audit associates carry out the complex level of auditing and accounting tasks. They perform various accounting procedures and carry out tax applications in accordance with the organization's standards. They carry out timely accounting systems of the client's accounts and generate tax theory accordingly. The experienced audit associates often make use of materiality and audit risk theories to deal with any auditing issues. They also draft informative, indexed, and cross referenced work papers that can be easily understood.
Project and Task Management: The experienced audit associate uses all the company resources to complete the allocated project. They are highly professional auditors and are able to manage multiple client projects efficiently within a given time.
Personal and Professional Development: The experienced audit associates are responsible for representing the firm in a professional manner and earn confidence and trust from the clients. The good auditor is always recognized by various courses undertaken and proficiency in demonstrating sound business judgments.

To start a career as an experienced audit associate, the candidate must possess essential qualification and skills. Along with the qualifications, the candidate must also be aware of the various job responsibilities of an experienced audit associate. Following is the detailed information about the educational qualification, skills, and experienced audit associate responsibilities that will help you in gaining ample knowledge about this field.

Educational Qualification of an Experienced Audit Associate

The experienced audit associate is expected to have at least a bachelor's degree in accounting, finance, economics, or any other relevant subject. Along with the bachelor's degree, the candidate must also possess a minimum experience of 130 credit hours. The post of an experienced audit associate is a highly responsible post and thus many employers prefer hiring candidates with a master's degree and some professional experience as an auditor. The candidates can even achieve the post of an experienced audit associate by qualifying certain certified courses such as the certified public accountant course. The experienced audit associates must also possess sound knowledge about various software applications used during auditing and accounting.

Key Skills of an Experienced Audit Associate

Expert mathematical skills is one of the most common skills of an experienced audit associate. Along with the mathematical skills, the experienced audit associate must also possess the following skills:

Expert research and analytical skills
Ability to interact effectively
Excellent verbal as well as written communication skills
Expert time management skills
Punctual
Professional attitude while interacting with co-workers and clients
Flexible and enthusiastic nature
Ability to handle confidential and sensitive information
Knowledge about financial laws decided by the government

Job Responsibilities of an Experienced Audit Associate

The experienced audit associate is responsible for carrying out complex auditing assignments. Along with this, they are also responsible for carrying out the following tasks:

Developing professional relationship with the clients
Keeping a track of the client's accounts and assisting them about their routine accounting functions
Preparing audit reviews after detailed checking of the client accounts
Solve all complex auditing issues within the framed time
Design, manage, and ensure the accuracy of the financial statements
Prepare and analyze all accounting and financial records
Interact with the clients and assist or solve their queries in a timely manner
Coordinate with the clients to perform tests on all internal controls of the organization
Prepare financial reports and suggest the appropriate estimates
Ensure that all the transactions are undertaken with respect to the laws decided by the government

Salary of an Experienced Audit Associate

According to the United States Bureau of Labor Statistics, the median annual salary of an experienced audit associate is about $69,000. According to various employers, the salary of an executive audit associate generally ranges in between $36,000 to $102,000. This salary, however, may fluctuate according to the employer and the experience level of the audit associate.

The experienced audit associate responsibilities mentioned above will make you aware about the essential qualifications, key skills, and salary earned by the these experts. This information will also educate you about the work profile and job duties of an experienced audit associate. The above provided information will thus definitely guide you in planning your career in this field.