Statutory Audit

Role & responsibilities

The professional will work as part of the Indian Statutory Audit team and be responsible for executing end-to-end audit procedures in line with Indian Accounting Standards (Ind AS), Companies Act, and other regulatory frameworks. The role involves direct client interaction and managing junior team members across audit phases.

1 Planning & Risk Assessment

Understand the client business, industry, and regulatory environment

Assist in audit planning and risk identification

Prepare audit strategy and execution plans

2. Execution & Review

Perform walkthroughs and test controls

Execute substantive audit procedures for key financial statement areas

Review work papers and documentation for compliance with audit methodology

Identify audit findings and assist in drafting observations and recommendations

3. Reporting & Closure

Support preparation of financial statements, audit reports, and management letters

Ensure compliance with regulatory timelines and deliverables

Assist in internal process improvements and knowledge sharing

Participate in firm-wide initiatives and training

Mentor and guide junior team members

Stay updated with evolving accounting and auditing standards (Ind AS, CARO, GST, etc.)

Know Your Role

Function: Assurance Statutory Audit (India)

Service Line: Audit & Assurance

Job Level: Audit Senior / Audit Assistant Manager

Required Qualifications

Graduation: B.Com / M.Com

Professional Qualification: Chartered Accountant (CA)

Skills:

Sound knowledge of Indian GAAP / Ind AS

Strong communication and documentation skills

Experience in statutory audit of listed and unlisted companies

Team management and client handling capabilities

Independently lead and execute audits of Indian clients

Ensure quality and timeliness of deliverables

Maintain audit documentation as per firm methodology and regulatory standards

Identify process improvements and contribute to internal knowledge management

Build rapport with client stakeholders and internal teams

Provide guidance to interns and junior staff during audit engagements

Report audit progress and concerns to engagement manager/partner