We are looking for suitable candidates for Audit Engagement Quality Control Reviewer (EQCR)-Microfinance/banking audits
Background
ACCMIN Consulting and Services Co., Ltd. is a sustainable growth oriented consulting firm that delivers a comprehensive range of accounting, audit and financial management services with an emphasis on system set up, system review, risk assessment, and reporting preparation as well as providing capacity building services to the local and international community in Lao PDR.
ACCMIN entered contracts with executive agencies for financial audit of their micro finance/banking audit.
The audit will be carried out in accordance with the International Standards on Auditing (ISA).
ACCMIN is looking for Engagement quality control reviewer to perform review of ACCMIN audit on an ad hoc basis.
The objective of the assignment
The assignment will perform Engagement quality control review of ACCMIN audit assignments on an ad hoc basis.
The scope of work of EQCR
The scope of work is to:
Information requirement
In order to carry out this assignment, the EQCR will have to familiarize with
Qualification
General qualification:
The EQCR should have a postgraduate level qualification in accounting or related discipline; at least 10 years experience in financial auditing and auditing of financial statements with substantial experience in auditing public sector clients; not less than 5 years in a lead position in charge of audit teams.
Deliverables:
The engagement quality control reviewer shall document, for the audit engagement reviewed, that:
Institutional arrangement and inputs
The EQCR will work closely with the audit partner/director of the ACCMIN and its team members during the review.
The EQCR will communicate to ACCMIN manager/director and team member for any technical audit issues or fundamental internal control weaknesses identified in the course of the engagement.
Discuss significant matters arising during the audit engagement, including those identified during the engagement quality control review, with the engagement quality control reviewer.
The ACCMIN will provide the following supports:
Salary/fee levels will be based on qualifications and experience.
Interest person can send application letter and updated CV to the address below or fill our online application form.
ACCMIN Consulting and Services Co., Ltd.
Unit 32, Nongtaeng Nuea Village, Sikhottabong District
Vientiane Capital, Lao PDR
Telephone: 856 21 620424, 620522
Email: thanida@accminlao.com
ACCMIN Consulting and Services Co., Ltd. is a sustainable growth oriented consulting firm that delivers a comprehensive range of accounting, audit and financial management services with an emphasis on system set up, system review, risk assessment, and reporting preparation as well as providing capacity building services to the local and international community in Lao PDR.
ACCMIN entered contracts with executive agencies for financial audit of their micro finance/banking audit.
The audit will be carried out in accordance with the International Standards on Auditing (ISA).
ACCMIN is looking for Engagement quality control reviewer to perform review of ACCMIN audit on an ad hoc basis.
The objective of the assignment
The assignment will perform Engagement quality control review of ACCMIN audit assignments on an ad hoc basis.
The scope of work of EQCR
The scope of work is to:
- The engagement quality control reviewer shall perform an objective evaluation of the significant judgments made by the engagement team, and the conclusions reached in formulating the auditor’s report. This evaluation shall involve:
- Discussion of significant matters with the engagement partner;
- Review of the financial statements and the proposed auditor’s report;
- Review of selected audit documentation relating to the significant judgments the engagement team made and the conclusions it reached; and
- Evaluation of the conclusions reached in formulating the auditor’s report and consideration of whether the proposed auditor’s report is appropriate.
- Other matters relevant to evaluating the significant judgments made by the engagement team that may be considered in an engagement quality control review include:
- Significant risks identified during the engagement in accordance with ISA 315 (Revised), and the responses to those risks in accordance with ISA 330, including the engagement team’s assessment of, and response to, the risk of fraud in accordance with ISA 240.
- Judgments made, particularly with respect to materiality and significant risks.
- The significance and disposition of corrected and uncorrected misstatements identified during the audit.
- The matters to be communicated to management and those charged with governance and, where applicable, other parties such as regulatory bodies.
- The engagement partner may consult the engagement quality control reviewer during the engagement, for example, to establish that a judgment made by the engagement partner will be acceptable to the engagement quality control reviewer. Such consultation avoids identification of differences of opinion at a late stage of the engagement and need not compromise the engagement quality control reviewer’s eligibility to perform the role.
- The engagement partner is also required to discuss, among other things, significant matters arising during the audit engagement with the engagement quality control reviewer
- Conducting the engagement quality control review in a timely manner at appropriate stages during the engagement allows significant matters to be promptly resolved to the engagement quality control reviewer’s satisfaction on or before the date of the auditor’s report.
Information requirement
In order to carry out this assignment, the EQCR will have to familiarize with
- Micro finance/Banking procedures including financial statements under IFRS and internal control system
- Client business
- Accounting and financial procedures and system
- Financial statements under IFRS
- ACCMIN QC manual and ISA
- Online audit platform
Qualification
General qualification:
- Hold relevant professional and educational qualifications. They should hold a relevant professional auditing license/registration in a country that is member of IFAC
- Have in-depth experience in reviewing audits of donor funded projects and project financial statements.
- Have experience in auditing in Asian Pacific region or the similar region
- Have no conflict of interests in relation to the project and its activities
The EQCR should have a postgraduate level qualification in accounting or related discipline; at least 10 years experience in financial auditing and auditing of financial statements with substantial experience in auditing public sector clients; not less than 5 years in a lead position in charge of audit teams.
Deliverables:
The engagement quality control reviewer shall document, for the audit engagement reviewed, that:
- The procedures required by the firm’s policies on engagement quality control review have been performed;
- The engagement quality control review has been completed on or before the date of the auditor’s report; and
- The reviewer is not aware of any unresolved matters that would cause the reviewer to believe that the significant judgments the engagement team made and the conclusions it reached were not appropriate.
Institutional arrangement and inputs
The EQCR will work closely with the audit partner/director of the ACCMIN and its team members during the review.
The EQCR will communicate to ACCMIN manager/director and team member for any technical audit issues or fundamental internal control weaknesses identified in the course of the engagement.
Discuss significant matters arising during the audit engagement, including those identified during the engagement quality control review, with the engagement quality control reviewer.
The ACCMIN will provide the following supports:
- Provide all related information for the engagement
- Provide access to online working papers of audit team
- Assign team members to work with EQCR through the entire assignment period.
- Make all logistic arrangement for the EQCR during the assignment if any
Salary/fee levels will be based on qualifications and experience.
Interest person can send application letter and updated CV to the address below or fill our online application form.
ACCMIN Consulting and Services Co., Ltd.
Unit 32, Nongtaeng Nuea Village, Sikhottabong District
Vientiane Capital, Lao PDR
Telephone: 856 21 620424, 620522
Email: thanida@accminlao.com