Audit Executive

1 week ago

Bengaluru, Karnataka, India Klene Paks Full time ₹ 2,50,000 - ₹ 7,50,000 per year

A material price auditor, often a type of cost or inventory auditor, examines a company's financial records to ensure that the costs of raw materials and goods are accurately recorded and priced. Their work is crucial for financial accuracy, operational efficiency, and legal compliance, especially within manufacturing and retail sectors. Core duties and responsibilities

  • Audit material costs: Collect and analyze data to verify the cost of raw materials, components, and inventory purchases.
  • Validate pricing accuracy: Compare purchase orders, invoices, and other documentation to ensure that material pricing is accurate and adheres to vendor agreements.
  • Review inventory records: Inspect and reconcile inventory records with physical stock counts, monitoring discrepancies and investigating the causes of variances.
  • Examine internal controls: Evaluate the effectiveness of internal control procedures related to inventory, procurement, and cost management to identify potential weaknesses or areas for fraud.
  • Report findings: Prepare clear and concise audit reports that document findings, propose corrective actions, and recommend improvements to internal processes and controls.
  • Assess supplier performance: Review the pricing and accuracy of incoming deliveries against material specifications and communicate non-conformances to suppliers.
  • Ensure compliance: Verify that all cost accounting practices and record-keeping procedures comply with both internal company policies and relevant financial regulations.

Key qualifications and skills":

  • Educational background: A bachelor's degree in Accounting, Finance, or a related field is typically required.
  • Experience: Prior experience in auditing, cost accounting, or financial analysis, preferably in a manufacturing, retail, or related industry, is often preferred.
  • Analytical skills: The ability to collect, analyze, and interpret large volumes of financial data to identify patterns, errors, and risks.
  • Attention to detail: A high degree of accuracy and a meticulous approach to examining financial records and documentation.
  • Technical proficiency: Expertise with accounting software, Enterprise Resource Planning (ERP) systems, and data analysis tools, particularly Microsoft Excel.
  • Communication skills: Excellent written and verbal communication to report findings to management and interact with other departments.
  • Problem-solving: Strong investigative and critical thinking skills to research discrepancies and develop effective solutions.

Preferred candidate profile : Good communication skills, strong in raw materials price negotiations, presentation skills. Good computer knowledge. Prepare the materials audit reports and submit to management on time. Immediate joiner preferred.

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