Financial Reporting and Audit Accountant at Maitland

The successful applicant will be expected to prepare annual financial statements and manage the whole audit process from beginning to end for more intricate clients as well as reviewing annual financial statements prepared by junior team members and assisting junior team members with complex queries.

• The individual will be required to have a good understanding of the following reporting standards:
• International Financial Reporting Standards (IFRS) - compulsory;
• Lux GAAP (not compulsory);
• To be able to prepare the financial statements in line with the above listed reporting standards;
• Audit experience is required as audit queries / liaison with external auditors takes place as part of the audit of the hedge fund clients.

Minimum Requirements

• An CA(SA) qualification is required, together with 3 years audit experience.
• Audit experience in Hedge Funds would serve to your advantage as well as experience on the preparation of annual financial statements in line with the above listed reporting standards;
• IT and Systems Skills and Knowledge:
• Advanced level experience in using Excel and MS Word;
• Proven competence and an aptitude for working with systems;

Duties and Responsibilities

• Build a strong work relationship with team members, and be a primary contact for queries from various audit firms;
• Ensure accurate and timely completion of prepared annual financial statements for review as well as delivery of audit requirements to auditors by team members, in line with fund production schedule allocations.
• Assisting team members where required and liaison with various audit firms with regards to audit timetable to confirm and agree on provisional dates available for the audit, after review of planned audit schedule.
• Preparation of annual financial statements based on system generated trial balances as well as other reports extracted from the accounting system in line with required reporting standards; (could also include preparation of Interim financial statements)
• Assisting team members in compilation of audit pack if required and other information to be sent to auditors before the start of the audit in accordance with agreed audit timetable;
• Update AFS with auditor’s comments as per auditors/partners/clients requests and distribute timeously to auditors for sign-off within agreed audit timelines;
• Remain up to date regarding latest changes in IFRS and the relevant impact on financial reporting and assist the Team Leader – Financial Reporting and Audit in assessing technical queries from audit firms in terms of reporting requirements;
• Report to Team Leader – Financial Reporting and Audit on a regular basis with regards to the following:
• Escalation of possible audit delays which could result in audit overruns charged to Maitland;
• Assist the Team Leader – Financial Reporting and audit with the below functions:
• Reviewing of annual financial statement prepared by junior team members;
• Advise junior team members on query resolution;
• Training of new team members.

Skills and Competencies

• Detailed understanding of International Financial Reporting Standards, specifically IFRS7 : Financial Instruments: Disclosures, IFRS 9 Financial Instruments, IFRS 13 : Fair Value Measurement; IFRS 10 : Consolidated Financial Statements; IFRS 12 : Disclosure in Other Entities;
• Beneficial if skills set/experience and understanding of Lux GAAP reporting standard, as well as understanding of differences between Lux GAAP & IFRS.
• An understanding of funds and fund structures;
• Knowledge of the hedge fund industry and unit trusts;
• Previous experience in the preparation of financial statements in line with financial reporting standards;
• Previous experience in dealing with clients;
• Excellent communication skills (both written and verbal);
• Confident, enthusiastic and self-motivated;
• A track record of achievement.