Financial audit
The Audit Commission is responsible for the external audit of local health and local government bodies, and for auditing and inspecting many other public services. In doing this, we work with a wide range of public sector organisations to raise the standards of public services and ensure the best possible use of taxpayers' money. The Audit Commission is responsible for helping them make the best possible use of their financial resources, and see that taxpayers get value for money in terms of the services they receive. Our audited and inspected bodies include local authorities and health bodies across the country, as well as other public sector bodies, for instance police and fire authorities.
Our financial auditors work in local teams to review the financial arrangements of our clients. This could involve looking at accounting standards, auditing grant claims, investigating fraud or testing financial systems. The majority of this work is carried out at client sites, enabling us to develop an understanding of their issues, as well as build a good working relationship with clients.
The Commission is now working under the exciting new banner of Strategic Regulation, allowing us to target our audit work where it will have the greatest impact, or where the greatest risk exists.
Our financial auditors are mostly CCAB (the Consultative Committee of Accountancy Bodies) qualified accountants with audit experience. The Audit Commission mission in financial audit is to provide proper accountability for public money by local government and NHS bodies. We deploy our high standards of external audit to leading good practice in accounting, financial reporting, and corporate governance across the public sector. For instance:
- Comprehensive Performance Assessment (CPA) is about helping local councils improve local services for their communities.150 single tier and county authorities, and over 400 district councils, were assessed and given a rating of between poor and excellent, with an annual refresh of scores.
- Modernising the audit is about a focus on improvement, effective reporting, professional standards, judgement and risk based opinion.
Our aim is to deliver continuous service improvement and value for money.
What do Financial Auditors do?
- You will have the chance to expand your skills in a varied and stimulating environment.
- You may be responsible for the delivery of final accounts, grant claims, corporate governance arrangements, as well as planning or managing audits, which range in size and complexity according to the client.
- Spending a significant time at client sites, developing an understanding of their issues and helping them to seek service improvements for the communities they serve.
- You will work as a member of an audit team, which will work with a mix of clients across a geographical patch.
- Facilitating final account workshops for clients.
- Working within the Code of Audit Practice (England).
- Looking at standards of financial conduct, fraud and corruption.
- Auditing systems of internal financial control and the legality of financial transactions.
- Giving opinion on the financial arrangements of clients.
What would I need to be effective in this role?
- For most roles, CCAB qualification and audit experience are a requirement. We do, however, employ a number of graduate trainee auditors each year – for details of the scheme please see the graduate recruitment site (www.theartofnumbers.co.uk).
- Strong IT skills
- Project management and personal time management skills.
- Ability to manage client relationships.
- Excellent communication skills (written and oral).
- An understanding of the current issues within local government and the NHS.
- Ability to work effectively as a member of a team.
- Audit or public sector experience.
