A Day in the Life of an External Audit Manager

 

In the business world, external audit managers ensure financial records are transparent, accurate, and compliant. Diligent and meticulous, their work ensures the integrity of financial statements giving stakeholders the confidence they need to make well informed decisions. External audit managers shoulder big responsibilities, but it's a rewarding role that offers an interesting career path.

If you’re considering it as an option, let's look at a typical day in the life of an External Auditor Manager so you can decide whether it’s the right fit for you.

 

Morning Planning

The work is fast-paced and the External Audit Manager usually hits the ground running. With a clear mind and coffee in hand, they start the day by checking their inbox and addressing anything urgent. Next, they’ll plan the day ahead. Once tasks have been allocated to the audit team and priorities set, it’s time to tackle the to-do list.

Client Meetings

A significant chunk of the External Audit Manager’s day is taken up by meetings. Discussions are usually centered around audit progress and addressing any client concerns. Everyone in the team needs to be on the same page, so effective communication is key to help build and maintain trust, and ensure that the audit aligns with the client's objectives.

Supervising Audit Procedures

Overseeing audit procedures is a key part of the job. On any given day, the External Audit Manager will find themselves reviewing workpapers, assessing evidence, and ensuring compliance. This is on top of guiding the audit team, offering insights, and resolving any challenges.

Risk Assessment

Mitigating risks is at the heart of external auditing, which means the manager will spend time evaluating the client's business and the environment they operate in, identifying areas of concern and devising strategies to address them.

Quality Control and Review

High standards are non-negotiable. The External Audit Manager conducts regular reviews of audit work to ensure accuracy, completeness, and adherence to professional standards. This is crucial in safeguarding the credibility of the audit findings and financial statements.

Professional Development and Training

Change is constant, so keeping pace with industry developments and evolving auditing standards is paramount for an External Audit Manager. They’ll make time to browse industry publications, attend training sessions, sign up for webinars and attend conferences. This gives them the knowledge and tools to succeed.

Problem-Solving and Decision-Making

The day can be unpredictable and the External Audit Manager usually encounters multiple challenges, ranging from complex accounting issues to client concerns. Using their experience, technical expertise, and critical thinking skills, they’re required to make informed decisions and find effective solutions. The ability to navigate these uncertainties with a calm pragmatism is what marks out a seasoned manager.

Wrapping Up

As the day winds down, the External Audit Manager conducts a final progress review and notes any outstanding tasks. Before they leave, they’ll update the audit team on any changes to priorities, setting up a smooth transition into the following day.

 

Conclusion

This kind of work is demanding but satisfying, and the reward comes from helping to ensure financial accountability. Each day in the life of an External Audit Manager is different, but that’s what makes it so challenging and satisfying.