City of London
13 days ago
Financial Reporting Council
Permanent, Full Time (Part Time Considered)
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 be responsible for the technical and quality aspects of the inspection reviews at the Big 4 and other audit firms. AQR work covers both inspections of individual audits and reviews of firm-wide arrangements to support audit quality and meet ethical requirements. AQR also periodically undertakes thematic inspections which focus on particular aspects of audit across a sample of audits and firms.
The successful candidate will be a member of AQR’s technical and quality team. The role provides a unique insight into how the major firms operate and how they are responding to current issues in the profession and the changes in regulatory requirements. Successful candidates will have the satisfaction of being able to influence the practices and procedures of the major audit firms to enhance quality. They will be given responsibility for significant elements of projects relevant to the regulation of auditors and accountants, including:
- Providing high quality support and guidance on technical and reporting matters to AQR inspection teams. This can include participating in ongoing discussions with AQR inspection teams and the audit team including senior partners for major audits
- Overseeing the AQR quality review process
- Contributing to the assessment of the work carried out on major audits. This includes the appropriateness of judgements made on key audit and accounting issues and the sufficiency and appropriateness of the audit evidence obtained
- Collating and analysing findings across the major firms
- Developing summaries and insights arising and communicating these both within the FRC and externally
- Building constructive and professional relationships with senior management at the audit firms and other regulators
- Active involvement in cross-FRC initiatives and working with other FRC teams as appropriate
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 essential with experience working in a large UK audit firm preferred. Prior experience in a technical or quality review role would be advantageous. The ideal candidate will have:
- Excellent knowledge of current auditing and ethical requirements
- Experience of auditing UK listed companies and/ or other major entities
- Strong technical auditing and accounting skills (including a good knowledge of IFRS)
- Excellent analytical skills and can make sound decisions about the significance of issues
- Strong team working skills with the confidence and the ability to engage with and, where appropriate, challenge the judgements made.
- Experience at managing the resolution of sensitive issues and potentially confrontational situations in a constructive and professional manner
- Advanced oral communication and written skills with the ability to express issues in a clear, balanced and concise manner
- Excellent attention to detail and accuracy
- Experience of working in highly effective teams and recognises when it is appropriate to consult with /involve others
- Strong understanding of the regulatory and audit environment
The role is based in our central London office. Flexible working arrangements will be considered, including occasional working from home where practicable.
Rewards and benefits
- The FRC offers competitive remuneration packages, with benefits including 30 days annual leave plus the ability to buy extra leave
- The FRC has a strong work/life balance ethos
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.
Please apply with a copy of your CV and covering letter. In the covering letter, 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