06/01/1989 03700

AUDIT SPECIALIST 1

DEFINITION: This is professional work in the managerial auditing of organizations, programs, activities and functions for the Office of the Budget.

An employee in this class performs analytical and evaluative work in the examination, evaluation and reporting on the accountability and effective management and utilization of funds administered by Commonwealth agencies and recipient organizations and in the formulation and negotiation of substantive recommendations to adjust or modify operations in order to insure compliance with Federal, state or departmental laws, regulations and policies and improve the economy, efficiency and effectiveness of operations. At this level, work is performed within established auditing programs and is distinguished from the next higher level by the limited variety and scope of auditing programs assigned. Work involves reviewing financial management and internal control systems, financial transactions and accounts, and financial statements and reports to determine whether there is effective control and proper accounting for funds; that statements are presented fairly in accordance with generally accepted accounting principles; that financial reports contain accurate and reliable information and are presented in accordance with the terms of applicable agreements and regulations; and that the expenditure of funds is in conformance with applicable laws and regulations. Work includes reviewing, appraising and reporting on the effectiveness of management systems and controls, and the economy and efficiency of resource utilization; ascertaining the extent of conformance with established policies, procedures, standards and applicable laws and regulations; insuring that operations are carried out in an economical and efficient manner; and developing and reporting recommendations for operational improvements, areas for cost reduction, and correction of control or procedural deficiencies based on the auditor's findings and conclusions. Work also involves conducting entrance and exit audit conferences; on-site interviews with staff to gather information as part of the audit process; and discussing audit findings and recommendations with program or operational managers, and may also include providing assistance to auditees in the design or modification of financial, accounting or internal control systems. Audits are performed independently or as a member of a team within prescribed procedures, objectives and scope of the assignment, however, subsequent findings may warrant an expansion of the audit program to meet audit objectives. Supervisory guidance is available in new or unusual situations. Completed audits are reviewed by a professional superior for conformance to established policies, procedures, standards and timeframes, and for the validity of conclusions and recommendations.

EXAMPLES OF WORK: Performs all or assigned objectives of managerial audits of Commonwealth organizations, programs, activities and functions and those of entities subject to the state's examination.

Conducts audits of service providers under contract to the department.

Conducts audits of the administration of subgrants by recipient organizations under established audit programs.

Reviews and evaluates inventory records maintained by department warehouses to determine the accuracy of perpetual inventory systems and costing procedures.

Conducts follow-up audits to insure compliance with previous audit exceptions or to ascertain if recommendations have been accepted, implemented and are improving operations.

Conducts, or participates in the conduct of, entrance and exit audit conferences to apprise managers of audit scope and to discuss audit findings and recommendations.

Reviews Federal or state laws, rules, regulations and policies; grant agreements and contracts; prior audit workpapers and reports, etc., in order to become familiar with the operation and controls governing the audit subject.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES: Knowledge of the concepts, theories, principles and practices of accounting including general accounting, fund accounting, cost accounting, analysis of financial statements, systems of accounting and auditing.

Knowledge of electronic data processing procedures and internal controls.

Knowledge of the principles and techniques of statistical sampling used in auditing.

Skill in conducting interviews, making inquiries to gather information, explaining compliance matters and negotiating managements' acceptance of substantive recommendations to adjust or modify operations.

Ability to draw conclusions, formulate and express recommendations appropriate in view of the audit work performed and consistent with documented findings in a clear, concise and constructive manner, both orally and in writing.

Ability to establish and maintain effective working relationships with auditees, associates and superiors.

Ability to read, interpret and determine compliance with procedures, agreements, contracts, policies, legislation, rules and regulations controlling the activity being audited.

Ability to apply a knowledge of sampling techniques in selecting the appropriate methods for testing and evaluating data.

Ability to investigate thoroughly and to document investigative work.

Ability to follow transactions maintained and reported through electronic data processing procedures.

Ability to obtain personal transportation to and from work assignments.

MINIMUM EXPERIENCE AND TRAINING: A Bachelor's Degree including or supplemented by eighteen (18) credits in accounting, and auditing;

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One year as a Financial Programs Trainee;

                                                                                                                            or

Successful completion of the Commonwealth's Accounting Intern Program within the previous eighteen (18) months;

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Any equivalent combination of experience and training which included the required eighteen (18) credits in accounting and auditing.