Manager - Audit Qrm

**JOB DESCRIPTION** **Manager - Audit QRM** - Review and approval/rejection of audit engagements based on risk assessment and mitigation plan; - Review of Agreed Upon Procedures engagement contract, and advise on risk limitations; - Develop risk alerts for the audit Line-of-Business - Maintenance and coordination of Audit additional Terms and Conditions - Approval of Small Entity Workflow request for medium-risk audit engagements - Assess requests to waive EQCR review - Review/approval of requests to share audit documentation with third parties - Review/approval of requests from ET when the Firm will audit less than 70 per cent of either consolidated total assets or consolidated gross revenues, and/or A non-KPMG component auditor is expected to "play a substantial role\" in the group audit of an entity with a high public profile. - Provide necessary consultation in relation to Audit related Matters - Prior period financial statements on which an unmodified opinion was issued - When ET obtains audit evidence that a material misstatement exists - When ET obtains audit evidence that a material misstatement exists, and the predecessor auditor does not agree with the proposed amendment to the financial statements or refuses to reissue the auditor's report on the prior period financial statements - When management, and those charged with governance do not take the necessary steps to ensure that anyone in receipt of the previously issued financial statements is informed of the situation and does not restate the financial statements in circumstances where ET believes they need to be restated. - Issuance of a disclaimer of opinion because of multiple uncertainties that are significant to the financial statements - Going concern - Issuance of a report on the financial statements when we conclude Material uncertainty related to going concern exists (and management have / have not made adequate disclosures) - When events or conditions have been identified that may cast significant doubt on the entity's ability to continue as a going concern but, based on the audit evidence obtained ET concludes that no material uncertainty exists - When ET concludes that the going concern basis of accounting used in the preparation of the financial statements is inappropriate. - Fraud / Non-Compliance with Laws and Regulations - If the team determines that there is a responsibility to report the occurrence or suspicion of fraud to a party outside the entity, to provide consultation to the engagement partner before such communication is made. - When ET identify actual or suspected fraud, other than those matters that are of little significance to the audit. - On issues related to suspected or identified non-compliance with applicable laws or regulations, including illegal acts - legal, regulatory or ethical requirement that overrides the responsibility to maintain client confidentiality. - Other Information - When ET concludes, before / after the date of the auditors' report, that a material misstatement of the other information exists for which a correction is necessary but the entity refuses to make the correction. - Management representation letter - When management refuses to provide written representations. - When management representation letter is the only source of conclusive evidence available - Group audit - When engagement partner has serious concerns about the matters described below and is unable to resolve such concerns directly with the other KPMG member firm personnel or the non-KPMG component auditor: - whether the component auditor understands and will comply with the ethical requirements that are relevant to the group audit and in particular, is independent - the component auditor's professional competence [ISA 600.19(b)] - whether the group engagement team will be able to be involved in the work of the component auditor to the extent necessary to obtain sufficient appropriate audit evidence, and [ISA 600.19(c)] - whether the component auditor operates in a regulatory environment that actively oversees auditors. [ISA 600.19(d)] - When foreign public accounting firm the group engagement team is planning to rely on is either not on the list of the member firms of the largest six global affiliations or does not meet the consent requirement. - When the KPMG component auditor is unable to communicate to the group engagement team matters that may be relevant to the group audit. For example, when local regulatory rules prohibit the sharing of such information across borders. - When the group management of the client refuses to communicate matters to component management that may be significant to the financial statements of a component, which the component management may be unaware of. - When the KPMG component auditor determines that the limitations or disclaimers (as implied by the group auditor) affects the persuasiveness of the audit evidence obtained from the response. - Omission of necessary audit procedures - When E