Competencies in this area focus on conducting and responding to systematic reviews of financial accounts. This includes knowledge of generally accepted auditing standards and procedures for conducting financial and compliance audits for economy, efficiency, and program results. Competencies include:
- Internal control procedures, e.g., separation of duties; fraud prevention; risk assessment
- Year-end external financial audits, e.g., fluctuation analysis; all financial statements; account analysis
- Special audits, e.g., IRS; A-133; sales and use tax; payroll tax, including researching rules and regulations, identifying risk areas, and compliance
- Responding to audit findings’ “corrective actions”
- Roles and responsibilities of auditor