▷ Audit Supervisor; Functions and salary

AnAudit supervisor is a professional internal or external to a company highly trained in review and evaluation of the operations of the economic entity, based on the administrative and financial information of said entity.

as supervisor must coordinate and monitor the audit team, making sure that they comply with all the rules and procedures during the process and making sure that the information in the records corresponds to the economic reality of the company.

His duties as audit supervisor are always aimed at ensuring that the audit teams make a judgment objective and reasonable without any inclination of interest that could affect the transparency of the result of the report of audit.

For the company, an audit supervisor is very useful to ensure that the entity functions optimally, preventing fraud,in addition tohelp detect faults and inefficiencies in the entity's internal control management.

Job Duties of an Audit Supervisor

• Prepare the working papers with the relevant information of the audit process.
• Supervise that the audit teams comply with all the audit procedures for the collection and analysis of information, from the internal control systems of the administrative process such as the accounting and financial records of the entity.
• Monitor the review of reports and documents of each of the accounting items that make up the financial statements.
• Evaluate the accuracy of the information in the financial records and examine any possible inconsistencies.
• Monitors compliance with company policies and applicable legislation.
• Supervises that the assets are duly justified.
• Examine the resources and obligations that the company has.
• Evaluate and take note of the observations made by the audit teams.
• Identifies and evaluates possible risks and proposes strategies to reduce or avoid them.
• Delegate and assign functions to each member of the audit team.
• Prepare proposals and recommendations to the management or board of the company.
• Prepare audit reports and issue a judgment or opinion based on the information collected, which may be qualified opinion, unqualified opinion, adverse opinion or abstention of opinion

Qualities an audit supervisor should have

An audit supervisor is characterized by having the following qualities:

• You must be responsible and honest, since you have the commitment to attest publicly before third parties and before the company through the audit report on the transparency of the financial statements.
• Must be observant and analytical in order to detect any flaws and inconsistencies in internal control processes and accounting information.
• You should always communicate assertively with both company personnel and the external audit team to facilitate and improve efficiency in the audit process.
• It must be impartial, without any type of link of interest with the company that could affect in any way the opinion of the opinion in the audit report.

Job Requirements to be an Audit Supervisor

• Being Lic. In public accounting, previously collegiate.
• Have verifiable experience as an internal or external auditor.
• Know the International Auditing Standards (NIA).
• Know the International Financial Reporting Standards (NIFF).
• Know the other regulations in commercial, tax and related legislation (current in Mexico).

Job field of an audit supervisor

• Internal audit supervisor.
• External audit supervisor.
• Audit adviser or consultant.

Average salary of an audit supervisor in Mexico

In Mexico, an audit supervisor earns around $13,000.00 pesos per month as a minimum, which varies according to the hours worked, the size of the audited company and whether it performs its functions as an internal auditor or as an external auditor.