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Job Profile - Audit Associate, Co-op
JOB PROFILE
Position #00111347, 00114314
Position Title: | Audit Associate, Co-op Student | Supervisor Title: | Senior Auditor, FARS |
Classification: | Co-op Level 1 | Supervisor Position #: | Various |
Work Unit: | Financial Audit and Related Services | Office: | Office of the Auditor General |
JOB OVERVIEW
Co-op students participate primarily in financial statement audits. Audit results provide the public and members of the Legislative Assembly with assurance that the Government’s Financial Statements are presented fairly and in accordance with Canadian Public Sector Accounting Standards. Work may also involve coordination with other groups within the office.
Co-op students work in a team, receiving assignments from Engagement Managers and usually working under the supervision of a Senior Auditor. With support, they may interact with staff, primarily in financial management and potentially with program managers, of ministries, Crown corporations, universities, colleges, school districts, and health authorities.
ACCOUNTABILITIES
Co-op students may be exposed to different steps of the financial statement audit process (planning, conducting, and reporting) in accordance with OAG and professional standards. They may have exposure to various business processes, identify relevant controls or weaknesses, carry out analytical procedures, perform substantive sampling, and other audit tasks. They will work on at least two different audits and possibly other projects depending on scheduling needs.
JOB REQUIREMENTS
Education and Experience:
- Working towards an undergraduate degree OR has an undergraduate degree and is working towards post-graduate diploma to fulfill Chartered Professional Accountant (CPA) Professional Program prerequisite courses.
- Successful completion of a CPA “Intermediate Financial Reporting 2” course equivalent as defined in the CPA Academic Prerequisites Guides.
- For example, Camosun College’s ACCT-211 Financial Accounting 4.
- A minimum GPA of 65% on all post-secondary accounting courses.
- General work experience in a team-focused, client-centred environment.
Knowledge, Skills and Abilities:
- General knowledge of Canadian generally accepted accounting principles (GAAP).
- Ability to work effectively in a team.
- Ability to prepare and review reports and documents, ensuring accuracy, clarity, and completeness.
- Ability to continually receive and incorporate feedback to develop skills and professional judgment.
- Strong analytical and problem-solving skills with a focus on solutions.
- Excellent verbal and written communication skills.
- Exceptional time management and organizational skills.
- Proficiency with MS Word, Excel, and Outlook.
PREFERENCES
Preference may be given to candidates who have:
- Experience with Caseware audit software.
- Higher grade averages.
- Successful completion of a CPA “Audit and Assurance” course equivalent as defined in the CPA Academic Prerequisites Guides.
- For example, Camosun College’s ACCT-380 Auditing 1.
DEVELOPMENTAL COMPETENCIES
Risk and Issue Identification and Assessment | Performs basic risk assessment procedures (enters trial balance, notices changes from the prior year, takes notes in meetings, updates business process documentation, attends business process discussions to support more senior staff, performs and documents implementation tests for control as directed) with supervision. Properly escalates issues found while conducting audit procedures (i.e., communicates with their supervisor, and drafts entries for summary of audit differences). With support, identifies inherent risk factors (complexity, subjectivity, change, uncertainty, susceptibility to management bias or fraud), and identifies which accounts or disclosures may be affected. |
Risk and Issue Response and Resolution | Understands how and why audit procedures planned will address the risk. Can sometimes suggest changes to audit procedures to improve efficiency or to adjust to new conditions and risks. |
Performing Audit Procedures/Following Audit Programs | Understands the purpose of procedures assigned to them. With some supervision, can perform and document results of basic audit procedures, such as confirmation, inspection (vouching), recalculation (add, agree, foot), sample selection, and substantive analytical procedures. With support is able to meet minimum documentation requirements (labeling, reference, purpose, source, identifying characteristics of items tested, analysis and judgments, conclusion, signoff, and date). Understands foundational concepts of accounting framework and is able to research primary sources of GAAP and apply requirements in the context of basic audit procedures. |
BEHAVIOURAL COMPETENCIES
Leading Self and Others
Holding People Accountable | Involves setting high standards of performance and holding team members, other government jurisdictions, outside contractors, industry agencies, etc., accountable for results and actions. |
Achieving Business Results
Planning, Organizing, and Coordinating
| Involves proactively planning, establishing priorities, and allocating resources. It is expressed by developing and implementing increasingly complex plans. It also involves monitoring and adjusting work to accomplish goals and deliver to the organization's mandate. |
Interpersonal Relationships
Teamwork and Cooperation
| Is the ability to work co-operatively within diverse teams, work groups, and across the organization to achieve group and organizational goals. |