Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Responsibility of each person
- This topic has 2 replies, 2 voices, and was last updated 8 years ago by anu1234.
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- September 3, 2015 at 2:48 pm #269688
Can you tell me what are these persons responsible for in an audit firm ? Is this is a correct hierarchy of audit firms ?
Audit partner
Audit Director
Senior Manager
Manager
Supervisor
Senior associates
Junior associatesSeptember 3, 2015 at 4:25 pm #269709I have not come across the term ‘audit director’ before, but it probably applies to firms that are limited companies not partnerships. In which case, audit partner and audit director are essentially equivalent and carry ultimate responsibility for ‘signing off’ an audit report.
The rest of your list is in the correct order.
Senior managers organise the audits of a group of clients and team of staff. Each audit will normally have an audit manager in charge who will send appropriate teams to each audit. The audit manager will review the work carried out by the audit teams.
A supervisor will look after a team of auditors when at the client gathering audit evidence. The supervisor will do some of the trickier work and will reviewing what others in the team do. Senior associates have probably been with the firm a fw years and are more skilled than juniors who might just have joined.
September 3, 2015 at 4:42 pm #269713Thanks a ton 🙂 🙂
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