Team Inspector - Audit Quality Review
The Financial Reporting Council (FRC) is responsible for promoting transparency and integrity in business. We are the UK Competent Authority for audit and set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about the role of the FRC can be found at www.frc.org.uk.
AQR monitors the quality of listed and major public interest audits undertaken by the major UK audit firms and is a leading international audit regulator, playing a significant role internationally in the promotion and development of audit regulation.
As a member of the AQR team, successful candidates will participate in reviews of the Big 4 and other large audit firms dealing with senior partners and staff at those firms
The role provides a unique insight into how the major firms operate and how they are responding to current issues in the profession and changes in regulatory requirements. Successful candidates will also have the satisfaction of being able to influence changes in the practices and procedures of the major audit firms to enhance quality. The successful candidate will be responsible for:
- Visiting audit firms and reviewing their processes and audit methodologies
- Making an assessment of the work carried out on major audits with a focus on insurance audits, including the judgements made by audit partners on key audit and accounting issues
- Interviews/ meetings with the senior audit partners and other team members on the relevant audits and meeting with senior partners and staff
- Reporting of findings to the firms
An accounting qualification coupled with membership of ICAEW, ACCA, ICAS or ICAI (or equivalent) are required. Experience at Audit Senior Manager or above in public practice is also essential with experience working in a major UK audit firm preferred. The ideal candidate will have:
- Significant experience in auditing the various types of UK insurance entity
- A good knowledge of IFRS and recent experience of auditing of UK listed companies/ other major entities
- Excellent written and oral communication skills and the confidence and ability to engage with and, where appropriate, challenge senior partners
- Excellent attention to detail and accuracy
- Ability and confidence to work autonomously
The role is based in our Central London Office. The post holder should be able to work flexibly to support the team’s activities and also provide cover within the FRC as necessary. Part Time & Flexible Working Available.
The FRC believes that equality of opportunity and diversity is important in the work that we do and we are strongly committed to being an inclusive employer. Our values of being fair and independent supports this commitment. We're a signatory to the Government's Disability Confident scheme, which means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.
Equal opportunities monitoring is an important means of demonstrating and implementing our commitment to promoting equality of opportunity and diversity. Completing our diversity form will assist the FRC to identify any barriers that prevent access to employment and career development for certain groups of people, and to develop solutions, such as action plans, new policies and practices. The form is completed on a voluntary basis and we strongly encourage all job applicants to complete it.
When applying, please set out, by reference to the person specification above, how you meet the required skillset.
- confirm that you have the right to work in the UK
- confirm your current package and benefits, and
- tell us where you heard about this job
Please note that we can only accept applicants who have the right to work in the UK.