What Does a PwC Audit Manager Do?

PwC is a global professional services network that provides assurance, tax, and consulting services to clients in 158 countries. PwC is one of the largest professional services networks in the world, with over 250,000 employees.

An Audit Manager at PwC is responsible for leading and managing audit engagements. They are responsible for planning, executing, and reporting on financial statement audits, as well as providing guidance and advice to clients on accounting and financial reporting matters. Audit Managers must have strong technical knowledge of accounting and auditing standards, as well as excellent communication and interpersonal skills. They must also be able to manage multiple projects and deadlines.

PwC Audit Manager Job Duties

A PwC Audit Manager typically has a wide range of responsibilities, which can include:

• Lead and manage audit engagements, ensuring that the team is delivering high-quality work in a timely manner
• Develop strong relationships with clients to ensure their satisfaction with the services provided
• Supervise and mentor junior staff members on the engagement team
• Ensure compliance with professional standards and internal policies
• Prepare financial statements and related disclosures for review by senior management
• Analyze complex accounting issues and provide solutions to clients
• Identify potential areas of risk and develop strategies to mitigate them
• Review client’s internal control systems and recommend improvements
• Assist in developing new business opportunities through networking and referrals
• Participate in industry events and conferences to stay up to date on current trends and regulations
• Monitor changes in auditing standards and regulations and update procedures accordingly
• Provide technical guidance and training to other team members

PwC Audit Manager Salary

The salary for an Audit Manager at PwC is determined by a variety of factors, including the size of the company, the complexity of the job, the number of years of experience the individual has, the geographic location of the job, and the individual’s performance. Additionally, the salary may be adjusted based on the individual’s qualifications and certifications.

• Median Annual Salary: $135,839 ($65.31/hour)
• Top 10% Annual Salary: $182,600 ($87.79/hour)

PwC Audit Manager Job Requirements

To be hired as an Audit Manager at PwC, applicants must have a minimum of a bachelor’s degree in accounting, finance, or a related field. In addition, applicants must have at least five years of experience in public accounting, preferably in an audit role. A CPA license is also required, as well as a strong understanding of Generally Accepted Accounting Principles (GAAP). Applicants must also have excellent communication and organizational skills, as well as the ability to work independently and manage multiple projects. Finally, applicants must be able to work in a fast-paced environment and have the ability to think critically and solve complex problems.

PwC Audit Manager Skills

PwC Audit Manager employees need the following skills in order to be successful:

Leadership: Leadership skills can help you manage teams of auditors and other professionals. As an audit manager, you may be responsible for overseeing a team of several other accountants. Leadership skills can help you motivate your team and encourage them to work hard and achieve their goals.

Microsoft Excel: Excel is a spreadsheet program that many companies use to manage their data. As an audit manager, you may need to use Excel to analyze financial data. Excel is also useful for creating graphs and charts to present data in an easy-to-understand format.

Auditing: Auditing is the process by which an auditor reviews a company’s financial records to ensure they are accurate and complete. This is one of the most important skills for an audit manager, as they are responsible for ensuring the accuracy of the audit.

Regulatory Filings: Regulatory filings are documents that companies are required to submit to regulatory bodies. These documents are often complex and require extensive knowledge of accounting and finance. As an audit manager, you may be responsible for ensuring that regulatory filings are accurate and complete.

Tax Preparation & Compliance: Tax preparation and compliance skills can help you understand the regulations and laws that affect your clients and their businesses. This knowledge can help you identify potential risks and opportunities for improvement. You can use your tax preparation skills to help your team develop strategies for completing audits and ensuring compliance with regulations.

PwC Audit Manager Work Environment

PwC Audit Managers typically work in an office environment, but may also travel to client sites to conduct audits. They typically work 40-hour weeks, but may be required to work overtime during busy periods. The job can be stressful, as Audit Managers must ensure that all audits are completed accurately and on time. They must also be able to work under pressure and handle multiple tasks simultaneously. Travel requirements vary depending on the client, but may include domestic and international travel.

PwC Audit Manager Trends

Here are three trends influencing how PwC Audit Manager employees work.

Compliance With Data Protection Laws

As data protection laws become increasingly stringent, PwC Audit Managers must ensure that their clients are compliant. This means understanding the various regulations and ensuring that all processes related to data collection, storage, and usage adhere to them.

Audit managers must also be aware of any changes in the law and how they may affect their clients’ operations. They should have a good understanding of the different types of data protection laws, such as GDPR, HIPAA, and CCPA, and how they apply to their clients’ businesses. Additionally, audit managers should be able to provide guidance on best practices for data security and privacy.

Audit Analytics

Audit analytics is a rapidly growing field that uses data analysis to improve the accuracy and efficiency of audits. Audit managers are increasingly relying on audit analytics tools to identify potential risks, detect fraud, and ensure compliance with regulations.

Audit analytics can help audit managers quickly analyze large amounts of data and uncover patterns or anomalies that may indicate financial irregularities. It also helps them assess the effectiveness of internal controls and identify areas for improvement. By leveraging audit analytics, PwC audit managers can provide more accurate and timely insights into their clients’ financial health.

Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is an emerging technology that has the potential to revolutionize the way audit managers work. RPA automates mundane, repetitive tasks and processes, freeing up time for more complex activities. This allows audit managers to focus on higher-value tasks such as data analysis, risk assessment, and client communication.

RPA also helps reduce errors in financial reporting by providing a consistent approach to auditing. By using automated tools, audit managers can quickly identify discrepancies and anomalies in financial statements, allowing them to take corrective action before it’s too late.

Overall, RPA is an important tool for PwC Audit Managers to understand and leverage in order to stay competitive in the future of work.

Advancement Prospects

As an Audit Manager at PwC, you will have the opportunity to move up the ranks to become a Senior Manager, Director, Partner, or even a Global Leader. As you progress, you will be responsible for managing larger and more complex audits, as well as developing and maintaining relationships with clients. You will also be expected to mentor and train junior staff, and to provide guidance and support to the team. With the right experience and qualifications, you may also be able to move into other areas of the business, such as consulting, tax, or financial advisory.

Interview Questions

Here are five common PwC Audit Manager interview questions and answers.

1. Tell me about a time when you had to deal with a difficult situation while working on an audit.

This question can help the interviewer learn more about your problem-solving skills and how you react to challenging situations. Use examples from previous work experiences where you had to overcome a challenge or solve a problem while working on an audit.

Example: “In my last role as an audit manager, I was working with a team of three other auditors when we were assigned to review a company’s financial records for the past five years. The company’s accounting system was outdated, which made it difficult for us to find some of the information we needed to complete our report. We decided that one of us would stay at the office until midnight each night to enter data into the computer so we could continue our audit the next day.”

2. Are there any specific industries that you have worked with before? Which ones?

This question is a great way for the interviewer to learn more about your experience and how it can benefit their company. When answering this question, make sure you list industries that are similar to the one of the company you’re interviewing with.

Example: “I have worked in both public and private companies before, including retail stores, restaurants and financial institutions. I find that each industry has its own unique challenges when it comes to auditing, which makes my skills as an auditor even more valuable.”

3. Do you think it is important for accountants to be detail oriented? Why or why not?

This question is an opportunity to show your interviewer that you are detail oriented and can provide examples of how this skill has helped you in the past.

Example: “I think it’s important for accountants to be detail oriented because it helps them stay organized and ensure they’re following all necessary procedures when completing audits. In my last role, I was working on a project where we were auditing a company’s financial records. During the audit, I noticed that some of the numbers didn’t add up correctly. After double-checking my work, I realized there was a mistake with one of the accounts. By being detail oriented, I was able to find the error before submitting our final report.”

4. How well do you work under pressure?

This question can help the interviewer determine how well you perform in high-pressure situations. High-performing audit managers need to be able to work under pressure and complete their tasks on time, so this is an important skill for them to have. In your answer, explain that you are a highly motivated individual who thrives when working under tight deadlines.

Example: “I am someone who works best when I have a deadline to meet. When I know there’s a specific date by which I need to finish my work, it motivates me to get started right away. This has helped me succeed in previous roles where I had to meet strict deadlines.”

5. How do you stay up to date on the latest financial news and trends?

This question can help the interviewer get a sense of your dedication to learning and growing as an audit manager. Showcase your ability to stay on top of industry news by mentioning how you keep up with financial publications, attend conferences or use other methods to learn about new developments in the field.

Example: “I subscribe to several financial newsletters that I read every day. In addition, I try to attend at least one conference per year to hear from experts in the field. I also have a few colleagues who are passionate about finance, so we often discuss recent news and trends.”