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US Accounting and Reporting Group Senior Manager

Date: Oct 8, 2021

Location: London, United Kingdom

Company: KPMG UK


The US Accounting and Reporting Group (US ARG) supports KPMG UK and a number of KPMG’s EMA member firms in their mandated compliance with SEC/PCAOB standards and KPMG’s international risk management policies.
With rapid growth in the group’s volume of activity over the past few years, due to audit wins of US listed clients, IPOs and M+A activity, alongside enhanced U.S. regulatory oversight specifically in terms of audit quality, we have an urgent need for a broadly-based, confident, capable person to fill a Senior Manager vacancy in 2021.
The role of the department is currently carried out by 3 UK-based partners, supported by Directors and seconded US Senior Managers, all of whom have the experience and the recognised authority to guide teams and tell them how best to comply with the various audit, regulatory and accounting rule frameworks in the US.
USARG also supports several quality initiatives to ensure it can continue to service audit teams in meeting US audit and regulatory requirements as well as supporting the US-related audit initiatives within the UK firm.
US ARG works with the engagement leaders from KPMG’s largest issuer audits across EMA and requires a Senior Manager with significant experience (described below), the confidence, and the required authority to deliver its risk and quality roles on a day-to-day basis.

Skills and experience
The role requires the following:

• At least seven or more years conducting audits under PCAOB standards including leading the audit of a large accelerated SEC filer
• A good understanding of the differences between PCAOB and ISA/ISA UK auditing standards, including the subtle application differences
• Detailed knowledge of the documentation requirements to meet PCAOB standards
• At least two or more years’ experience supporting SEC filing reviews of periodic filings, registration statements, and material acquisitions for SEC clients
• Experience as a trusted coach and advisor to all levels within an audit firm
• Ability to command the attention of anyone in the room regardless of grade
• Being highly rated in their current role
• Extensive experience in respect of US GAAP and COSO 2013
• Demonstrate industry specialism where possible
• Excellent presentation skills
• Highly experienced in preparing and supporting audit teams through a PCAOB inspection, specifically with non-US audit firms which have unique challenges
• Be sure of their ground, be able to identify an issue quickly and have the ability to articulate identified issues to all levels including firm leadership
• Be comfortable to challenge as well as motivate teams, also demonstrating the ability to support and provide teams confidence in applying US standards
• Demonstrate good client skills when needed to articulate US related issues
• The applicant will also need to have extensive knowledge the SEC, NYSE and NASDAQ rules and regulations, including independence matters, debt and equity offerings under Rule 144A of the 1933 Securities Act, and US GAAP.
• The applicant will be able to provide support, guidance and clear solutions to assist teams dealing with company, bank and adviser calls and to research/provide solutions in respect of offerings.
• Applicant should be a qualified US Certified Public Accountant.

Main Activities of a Senior Manager within US ARG with respect to this role

A Senior Manager within US ARG will spend his/her time with the following activities:

• Acting as Associate Reviewer within the appendix K process on
o filing reviews of periodic filings and registration statements of SEC issuers;
o filing reviews for prospective SEC issuers in connection with their IPO;
o Filing reviews for exempt offerings where funds are being raised in the US markets.
• Lead and manage reviews on a day to day basis of debt and equity offerings under Rule 144A of the 1933 Securities Act, including the comfort letter process, interacting with underwriters and their lawyers;
• Monitoring of PCAOB current audit standards and development of draft standards, identifying and the potential impact on KPMG UK’s current processes, including our audit tools and methodology compared to ISA UK
• Manage the PCAOB liaison support role with UK audit teams during inspection, including preparation of UK audit teams and support during and after the inspection
• Deal with technical queries on PCAOB/ US GAAP/ SEC and other US matters
• Enhance and maintain networking with Global QP and US DPP
• Presenting technical courses, especially the baseline and annual update trainings for all US related standards and best practice content to accredited partners and managers
• Preparing and presenting other internal trainings or teleconferences to update partners and managers working on engagements involving PCAOB, US GAAP, and/or SEC matters
• Participating in the Global international QPR process to understand current PCAOB comment trends and embed improvements/ best practices within UK firm audits
• Coaching US ARG managers and other audit senior managers and managers of engagement teams where needed

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