Financial Auditor Onboarding Checklist

Financial Auditor Onboarding Process

Are you looking for help setting up a staff orientation process so that when your new Financial Auditor starts their role, they can learn about their responsibilities and your company as quickly as possible? Whether you’re keen to use buddy onboarding, want to automate your Accounting onboarding experience or just need an onboarding checklist for your new Financial Auditor, you’re in the right place. We’ve put together a sample Financial Auditor onboarding checklist below and have created onboarding templates & resources to help.

Financial Auditor Onboarding Checklist

1. Introduction to company policies and procedures: The task involves providing the financial auditor with a comprehensive overview of the company’s policies and procedures, including code of conduct, ethics, and compliance guidelines. This task is typically performed by the Human Resources department or a designated compliance officer.

2. Familiarization with accounting software: As a financial auditor, it is crucial to become familiar with the accounting software used by the company. This task involves providing training and guidance on how to navigate and utilize the software effectively. The company’s IT department or a designated software trainer typically performs this task.

3. Understanding the company’s organizational structure: It is essential for the financial auditor to understand the company’s organizational structure to effectively perform their duties. This task involves providing an overview of the company’s departments, reporting lines, and key personnel. The Human Resources department or a designated supervisor typically performs this task.

4. Introduction to the company’s financial reporting processes: The financial auditor needs to understand the company’s financial reporting processes to ensure compliance and accuracy. This task involves providing an overview of the company’s financial reporting requirements, deadlines, and the individuals responsible for each step of the process. The finance or accounting department typically performs this task.

5. Review of previous audit reports: To gain insights into the company’s financial history and identify potential areas of concern, the financial auditor should review previous audit reports. This task involves providing access to previous audit reports and discussing any significant findings or recommendations. The finance or accounting department typically performs this task.

6. Shadowing experienced auditors: To gain practical knowledge and understand the company’s specific audit procedures, the financial auditor should shadow experienced auditors. This task involves pairing the new auditor with a seasoned professional who can provide guidance, answer questions, and demonstrate best practices. The audit department or a designated mentor typically performs this task.

7. Introduction to key stakeholders: Building relationships with key stakeholders is crucial for a financial auditor. This task involves introducing the auditor to key individuals, such as senior management, department heads, and external auditors, to establish communication channels and understand their roles in the audit process. The audit department or a designated supervisor typically performs this task.

8. Training on industry-specific regulations and standards: As a financial auditor, it is essential to stay updated on industry-specific regulations and standards. This task involves providing training and resources on relevant regulations, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). The finance or accounting department typically performs this task.

9. Access to necessary documentation and systems: To perform their duties effectively, the financial auditor needs access to relevant documentation and systems. This task involves providing the auditor with access to financial records, databases, and other necessary tools. The IT department or a designated system administrator typically performs this task.

10. Introduction to the company’s internal control framework: Understanding the company’s internal control framework is crucial for a financial auditor to assess the effectiveness of internal controls. This task involves providing an overview of the company’s internal control policies, procedures, and documentation. The finance or accounting department typically performs this task.

11. Training on risk assessment and audit planning: To conduct a thorough audit, the financial auditor needs to understand the process of risk assessment and audit planning. This task involves providing training on identifying risks, assessing their impact, and developing an audit plan. The audit department or a designated supervisor typically performs this task.

12. Introduction to the company’s budgeting and forecasting processes: Understanding the company’s budgeting and forecasting processes is essential for a financial auditor to evaluate financial performance. This task involves providing an overview of the company’s budgeting and forecasting procedures, key stakeholders involved, and the auditor’s role in the process. The finance or accounting department typically performs this task.

13. Review of relevant laws and regulations: To ensure compliance, the financial auditor needs to be familiar with relevant laws and regulations governing the industry. This task involves providing training and resources on applicable laws, such as the Sarbanes-Oxley Act or tax regulations. The finance or accounting department typically performs this task.

14. Introduction to the company’s risk management framework: Understanding the company’s risk management framework is crucial for a financial auditor to assess and mitigate risks effectively. This task involves providing an overview of the company’s risk management policies, procedures, and documentation. The risk management department or a designated supervisor typically performs this task.

15. Ongoing professional development opportunities: To enhance their skills and stay updated on industry trends, the financial auditor should have access to ongoing professional development opportunities. This task involves providing information on training programs, conferences, and certifications relevant to the auditor’s role. The Human Resources department or a designated supervisor typically performs this task

Setting Up Your Employee Onboarding Process

From reading through the items in the example Financial Auditor checklist above, you’ll now have an idea of how you can apply best practices to getting your new Financial Auditor up to speed and working well in your Accounting team. Scroll up to see the link to our onboarding templates & resources or get in touch to discuss getting help setting up your systems and processes in this area.