Audit Associate for Insurance & Accounting Industry

About Asiacruit

At Asiacruit, we connect top talent with forward-thinking organizations across industries. Our mission is to help businesses grow through smart, strategic, and people-focused solutions. We support companies by providing high-quality Philippine-based talent for local and global markets. If you are analytical, detail-oriented, and committed to maintaining the accuracy and integrity of financial information, we invite you to apply.

Position Overview

We are seeking an Audit Associate to support audit, accounting, and financial reporting activities within the insurance and accounting industry. This role will assist with audit planning, testing, documentation, account reconciliations, financial statement reviews, internal control evaluations, and the preparation of audit workpapers and reports.

The ideal candidate has a strong foundation in accounting and auditing, excellent attention to detail, and the ability to analyze financial information and supporting documentation. This position will work closely with audit, accounting, finance, insurance, claims, underwriting, billing, and operations teams to support accurate, timely, and compliant audit engagements.

Key Responsibilities

Audit Planning and Fieldwork

• Assist with planning and executing financial, operational, compliance, and internal control audit procedures.

• Review general ledger activity, trial balances, account schedules, financial statements, and supporting documentation.

• Perform audit testing for cash, accounts receivable, accounts payable, premiums, commissions, claims, reserves, investments, and other financial statement accounts.

• Prepare audit workpapers that clearly document procedures performed, evidence obtained, findings identified, and conclusions reached.

• Conduct sample testing, transaction testing, analytical reviews, confirmations, and other audit procedures as assigned.

• Compare financial information to source documents, accounting records, policies, contracts, and applicable reporting requirements.

• Identify unusual transactions, inconsistencies, control gaps, and potential financial reporting risks for review by senior team members.

Insurance and Industry Accounting Support

• Assist with audits of insurance-related transactions, including premiums, commissions, claims payments, recoveries, refunds, policyholder balances, and carrier settlements.

• Review policy, billing, claims, underwriting, and payment records for completeness, accuracy, and consistency.

• Test insurance receivables, payables, loss activity, claims reserves, commission calculations, and policy-related accounting entries.

• Reconcile insurance subledgers, carrier statements, policy administration systems, claims systems, and general ledger accounts.

• Investigate discrepancies between accounting records, operational reports, policy records, claims information, and supporting documentation.

• Coordinate with accounting, finance, underwriting, claims, billing, and operations teams to obtain information and resolve audit questions.

• Maintain accurate audit evidence and documentation for policyholders, customers, vendors, carriers, and other business partners.

Financial Reporting and Account Analysis

• Assist with the review of balance sheets, income statements, cash flow information, trial balances, and financial statement disclosures.

• Perform account reconciliations and analyze reconciling items, unusual balances, aged items, and significant fluctuations.

• Prepare account rollforwards, lead schedules, transaction summaries, aging reports, and other audit schedules.

• Support the review of journal entries, accruals, estimates, reclassifications, adjustments, and period-end cutoff activities.

• Perform variance analysis and research changes in account balances, financial ratios, premiums, claims, expenses, and other key metrics.

• Assist with month-end, year-end, statutory, and regulatory reporting activities as assigned.

Internal Controls and Compliance

• Evaluate the design and operating effectiveness of accounting and operational controls.

• Document business processes, control activities, risks, walkthroughs, and test results.

• Assist with testing segregation of duties, approval processes, access controls, reconciliations, and review procedures.

• Identify control deficiencies, process weaknesses, compliance issues, and opportunities for improvement.

• Support audits and reviews conducted in accordance with company policies, professional standards, applicable regulations, and reporting requirements.

• Maintain confidentiality of financial, customer, policyholder, claims, employee, and business information.

Audit Documentation and Collaboration

• Request, organize, index, and review audit evidence and client-provided documentation.

• Follow up on outstanding information requests and communicate open items to appropriate team members.

• Prepare clear summaries of audit findings, exceptions, recommendations, and unresolved issues.

• Assist with drafting management letters, audit reports, schedules, and presentations.

• Maintain organized electronic files and ensure workpapers meet documentation and quality standards.

• Participate in audit status meetings, team discussions, client communications, and process improvement initiatives.

• Support special projects, financial investigations, compliance reviews, and other accounting or audit activities as assigned.

Qualifications

Requirements

• Bachelor's degree in Accounting, Finance, Business Administration, or a related field.

• 1+ year of experience in auditing, accounting, financial reporting, internal controls, or a related role.

• Working knowledge of accounting principles, double-entry accounting, general ledger activity, and financial statements.

• Basic understanding of audit procedures, audit evidence, sampling, reconciliations, and internal controls.

• Basic understanding of insurance accounting transactions, including premiums, commissions, claims, reserves, recoveries, and policy-related payments.

• Proficiency with Microsoft Excel, including formulas, sorting, filtering, pivot tables, and basic data analysis.

• Experience using accounting software, audit platforms, enterprise resource planning systems, or financial reporting tools.

• Strong analytical skills and attention to detail when reviewing financial information and supporting documentation.

• Ability to organize workpapers, manage multiple assignments, and meet audit deadlines.

• Strong English communication skills, both written and verbal.

• Ability to handle confidential information with discretion and professionalism.

Preferred

• Experience in the insurance, accounting, public accounting, financial services, or professional services industry.

• Experience auditing insurance premiums, claims, commissions, reserves, carrier statements, or policy-related transactions.

• Experience with audit and accounting software such as Caseware, CCH, QuickBooks, NetSuite, SAP, Oracle, Microsoft Dynamics, or similar systems.

• Familiarity with U.S. Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), statutory accounting principles, or insurance accounting practices.

• Experience with financial statement audits, internal audits, compliance reviews, risk assessments, or control testing.

• Progress toward CPA, CIA, CISA, ACCA, or another accounting, audit, or finance-related certification.

• Knowledge of audit documentation standards, professional auditing standards, or regulatory reporting requirements.

Why Join

• Join a collaborative team supporting audit, accounting, and financial reporting operations for organizations in the insurance and financial services industries.

• Develop practical experience across financial audits, insurance accounting, internal controls, reconciliations, and compliance reviews.

• Build valuable technical and analytical skills through exposure to diverse audit engagements and business processes.

• Make a meaningful impact by helping organizations maintain accurate financial records, effective controls, and reliable reporting.

• Receive competitive compensation and opportunities for professional development and career growth.

• Work in a supportive, international environment with exposure to cross-functional teams and industry professionals.