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Job Summary
JOB DESCRIPTION
The State and Local Government (SLG) Experienced Audit Senior will be responsible for coordinating the day-to-day “in-charge” duties of planning, fieldwork, and “wrap-up” to include the preparing of financial statements with disclosures, applying most areas of GAAP as necessary, and documenting, validating, testing, and assessing various control systems. This position is also responsible for acting as the client contact for basic questions and information and may be involved in reviews and agreed-upon procedure engagements.
Job Duties
Control Environment
• Applies knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures
• Works with the engagement manager for the day-to-day conduct of the audit work and in particular for ensuring that the field work is executed and completed as planned, in accordance with timetable, with Firm’s policies and procedures and to budget
• Applies knowledge of transactional flow and key transactional cycles to complete audit work
• Documents, validates, and assesses effectiveness of internal control system
• Determines and communicates improvements to client internal controls and accounting procedures
• Supervise the work of audit staff and review workpapers and conclusions and explaining any shortcomings to them
GAAP
• Applies knowledge and understanding of governing principles of Governmental Accounting Standards (GASB); applying these principles to client transactions; and documenting and communicating an understanding and application of these principles
• Understands and effectively communicates GASB financial statement disclosure requirements to clients
• Reviews Basic Financial Statements for State and Local Governments including Management’s Discussion and Analysis (MD&A), notes to the Basic Financial Statements, and Required Supplementary Information for appropriateness in form, content, completeness, and accuracy
• Identifies and applies new GASB pronouncements to client situations
• Identifies, analyzes, and discusses alternative GASB accounting principles for the client, when necessary, with the Manager, Senior Manager, and engagement partner
• Identifies complex accounting issues and brings them to the attention of superiors for resolution
GAAS/GAGAS
• Applies knowledge and understanding of professional standards; application of the principles contained in professional standards; and the ability to document and communicate an understanding and application of professional standards on an engagement
• Formulates and communicates the audit plan
• Applies GAGAS to a variety of complex issues and consults others as appropriate
• Applies of audit skepticism and determines when to reduce or expand testing
• Uses BDO audit manuals as appropriate for the situation
• Documents deviations from BDO policy with approval
• Looks for opportunities to suggest improvement to company’s internal controls and prepare draft communication required by professional standards.
• Ensures compliance with engagement independence requirements and consults internally as needed.
• Reviews required communications to the client and relevant agencies, General Council, ensuring their completeness, accuracy and compliance with Firm and professional guidelines.
Uniform Guidance
• Applies knowledge and understanding of Uniform Guidance (UG) standards, application of Uniform Guidance standards, and ability to document and communicate an understanding and application of UG standards on an engagement
• Makes selections of major programs consistent with UG standards.
• Develops audit strategies for direct and material compliance requirements for each major program.
• Executes and oversees audit strategy ensuring compliance with the UG standards and BDO policies and manuals.
• Identifies audit findings and communicate such findings with engagement Manager, Senior Manager, Principal, and when necessary, the client.
• Prepares written findings and facilitate collection of management corrective action plans for inclusion in the UG report.
Methodology
• Applies knowledge and application of BDO standards that guide effective and efficient delivery of quality services and products
• Applies BDO audit approach and methodologies, including tools and technology, to execute the audit with quality, efficiency, and completeness despite pressures of deadlines
• Identifies and proposes outcomes to critical issues
Research
• Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on that information
• Applies knowledge of the use of internal and external research tools and selects methodology for routine research requests
• Researches more complex areas of accounting and forms an initial opinion on the correct treatment independently and considers and documents the impact on the client and audit engagement
• Documents and organizes complicated findings in a usable format, based on information obtained from Accounting Research Manager, BDO Assurance Manual, etc.
• Assists the engagement manager with gathering sufficient appropriate information about the business and information system, including the accounting system, to form an adequate basis for the preparation of the audit strategy
Project Management
• Coordinate timing of planning, fieldwork, and review with audit team and client and assist engagement executives in developing the audit engagement budget and identify appropriate resources
• Develops the draft Audit Engagement Planning Memorandum, audit programs and budgets
• Establishes, with the engagement manager, the responsibilities of individual audit staff for specific areas of audit work
• Monitors and reports engagement budget to actual and advise engagement executives of possible overruns
Supervisory Responsibilities
Other duties as required
• Supervises a team of audit professionals ranging in size from 1 to 5
• Provides verbal and written performance feedback to associates
• Teaches/coaches associates to provide on the job learning
Education
Qualifications, Knowledge, Skills, and Abilities:
• Bachelor’s in Accounting or equivalent, required
• Master’s degree in Accounting, preferred
Experience
• Three (3) or more years prior work experience in public accounting, required
• Prior supervisory experience, preferred
• Experience with public sector entities and related organizations, preferred
• Single audit experience, preferred
License/Certifications
• Actively pursuing CPA, required
Software
• Microsoft Office Products, including Windows, Word, Excel, and PowerPoint, required
• Experience in the use of various assurance applications and research tools as is appropriate for this level, required
Other Knowledge, Skills & Abilities
• Possess proven solid verbal and written communication skills
• Possess people development and delegation skills
• Possess executive presence – needs to be able to be primary contact for the client
• Able to “in-charge” all stages of the audit, including planning, fieldwork and “wrap-up”
• Able to perform the completion of an audit of a complex company
• Able to prepare and/or review financial statements with disclosures in accordance with GAAP requirements
Individual salaries that are offered to a candidate are determined after consideration of numerous factors including but not limited to the candidate’s qualifications, experience, skills, and geography.
Washington DC Range: $105,000 – $130,000
About Us
Join us at BDO, where you will find more than a career, you’ll find a place where your work is impactful, and you are valued for your individuality. We offer flexibility and opportunities for advancement. Our culture is centered around making meaningful connections, approaching interactions with curiosity, and being true to yourself, all while making a positive difference in the world.
At BDO, our purpose of helping people thrive every day is at the heart of everything we do. Together, we are focused on delivering exceptional and sustainable outcomes and value for our people, our clients, and our communities. BDO is proud to be an ESOP company, reflecting a culture that puts people first, by sharing financially in our growth in value with our U.S. team. BDO professionals provide assurance, tax and advisory services for a diverse range of clients across the U.S. and in over 160 countries through our global organization.
BDO is the first large accounting and advisory organization to implement an Employee Stock Ownership Plan (ESOP). A qualified retirement plan, the ESOP offers participants a stake in the firm’s success through beneficial ownership and a unique opportunity to enhance their financial well-being. The ESOP stands as a compelling addition to our comprehensive compensation and Total Rewards benefits* offerings. The annual allocation to the ESOP is fully funded by BDO through investments in company stock and grants employees the chance to grow their wealth over time as their shares vest and grow in value with the firm’s success, with no employee contributions.
We Are Committed To Delivering Exceptional Experiences To Middle Market Leaders By Sharing Insight-driven Perspectives, Helping Companies Take Business As Usual To Better Than Usual. With Industry Knowledge And Experience, a Breadth And Depth Of Resources, And Unwavering Commitment To Quality, We Pride Ourselves On
• Welcoming diverse perspectives and understanding the experience of our professionals and clients
• Empowering team members to explore their full potential
• Our talented team who brings varying skills, knowledge and experience to proactively help our clients navigate an expanding array of complex challenges and opportunities
• Celebrating ingenuity and innovation to transform our business and help our clients transform theirs
• Focus on resilience and sustainability to positively impact our people, clients, and communities
• BDO Total Rewards that encompass so much more than traditional “benefits.” Click here to find out more!
• Benefits may be subject to eligibility requirements.
Equal Opportunity Employer, including disability/vets
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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability or protected veteran status.
“BDO USA, P.A. is an EO employer M/F/Veteran/Disability”
