Address- The Chief Risk Officer (CRO) specializing in Statutory Audit plays a critical role in overseeing and managing the risk assessment and audit processes within an organization. The role involves developing and implementing strategies to identify, assess, and mitigate risks related to financial reporting, compliance, and regulatory requirements.
- The CRO works closely with senior leadership, internal audit teams, and external stakeholders to ensure the organization's risk management framework is robust and aligns with statutory and regulatory standards. Responsibilities: Responsible for organising and overseeing peer review and quality review of Statutory Audits done by the team as per IGAAP, INDAS, USGAAP, etc.
- Must have conducted audits as per IGAAP and INDAS. Identify non adherence to GAAP and auditing standards while reviewing the work. Identify gap in documentation. Risk Management Strategy: Develop and implement the organization's risk management strategy, policies, and procedures. Design and enhance risk management frameworks to align with Statutory Audit requirements. Statutory
- Compliance: Ensure compliance with statutory and regulatory requirements related to financial reporting, accounting standards, and auditing practices. Stay abreast of changes in relevant regulations and communicate updates to the executive team.
- Risk Assessment: Conduct comprehensive risk assessments to identify potential areas of concern in financial reporting and compliance. Collaborate with internal audit teams to assess the effectiveness of internal controls. Internal Controls: Oversee the development and maintenance of robust internal control systems to mitigate financial and operational risks.
- Monitor and evaluate the effectiveness of internal controls, making recommendations for improvements as needed.
- Audit Oversight: Coordinate and oversee the external Statutory Audit process. Collaborate with external auditors to address audit findings, ensuring timely and accurate resolution. Reporting and
- Communication: Prepare and present risk reports to senior management and board committees. Communicate key risk issues, trends, and mitigation strategies to relevant stakeholders. Training and Development: Provide training and guidance to internal teams on risk management best practices, compliance, and audit processes. Foster a culture of risk awareness and adherence to compliance standards. Crisis Management: Develop and implement crisis management plans to address unforeseen risk events promptly. Lead the organization's response to risk-related incidents.
- Stakeholder Collaboration: Collaborate with legal, finance, and other departments to ensure a holistic approach to risk management. Liaise with regulatory bodies, external auditors, and other stakeholders as needed.
- Qualifications: Education: Bachelor's degree in Accounting, Finance, Business, or a related field. A Master's degree or relevant professional certifications (e.g., CPA, CIA, CISA) may be preferred.
- Experience: Significant experience in risk management, Statutory Audit, and financial reporting, with a proven track record of leadership in similar roles. Regulatory Knowledge: In-depth knowledge of statutory and regulatory requirements related to financial reporting and auditing. Analytical Skills: Strong analytical and problem-solving skills, with the ability to assess complex risk scenarios.
- Communication Skills: Excellent communication and interpersonal skills to effectively interact with internal and external stakeholders. Leadership: Strong leadership and management skills, with the ability to drive change and foster a risk-aware culture. Strategic Thinking: Ability to think strategically and contribute to the development of organizational risk management strategies. Technology Proficiency: Familiarity with relevant risk management tools and technologies.
