Name: David "Dave" Kim Anika Patel
Age: 38 30
Education: Master's in Accounting Regulatory Compliance from the University of Illinois at Urbana-ChampaignGeorge Washington University, B.SA. in Accounting Business Administration from Indiana the University of Michigan
Professional Background:
125+ years of experience in public accounting, focusing on audit and assurance services for large commercial and public sector organizationscompliance roles, primarily in the financial services or healthcare industry.
Focus areas: Leading audit teams, managing client relationships, developing audit plans, executing audit procedures, and reviewing workpapersCompliance monitoring, risk assessment, regulatory reporting, policy implementation, and compliance training.
Previous roles: Audit Manager Compliance Analyst at a Big Four accounting firm, Senior Associate at a national accounting firm, Staff Accountant at a regional accounting firmlarge bank, Regulatory Compliance Specialist at a healthcare organization.
Special certifications or skills: Certified Public Accountant (CPARegulatory Compliance Manager (CRCM), Certified Internal Auditor (CIA), Project Management Professional (PMP)
...
Anti-Money Laundering Specialist (CAMS)
Industry: Financial Services (or Healthcare, depending on the organization's focus)
Responsibilities:
Plan and execute audit engagements, overseeing the work of audit teams and ensuring adherence to professional standards and deadlines.
Manage client relationships, addressing client concerns and questions, and providing updates on audit progress.
Review audit work papers for accuracy, completeness, and compliance with auditing standards.
Identify and assess audit risks and control deficiencies, and develop recommendations for improvement.
Mentor and develop junior audit staff, providing guidance and feedback on their work.
Goals:
Deliver high-quality audit services that meet or exceed client expectations and regulatory requirements.
Build strong relationships with clients and colleagues, fostering trust and collaboration.
Develop and mentor a high-performing audit team.
Advance within the firm and take on increasing levels of responsibility.
Challenges:
Balancing multiple audit engagements with tight deadlines and competing priorities.
Managing and motivating audit teams, especially during busy season.
Staying up-to-date on evolving auditing standards and regulatory requirements.
Communicating complex audit findings and recommendations to clients in a clear and concise manner.
Motivations:
Solving complex problems and uncovering the "truth" behind financial information.
Helping organizations improve their internal controls and financial reporting processes.
Building a successful career in public accounting and becoming a trusted advisor to clients.
Mentoring and developing junior audit staff and contributing to their professional growthConduct regular compliance monitoring and testing to ensure adherence to regulations and internal policies.
Identify, assess, and document compliance risks.
Prepare and submit regulatory reports accurately and on time.
Assist in the development and implementation of new policies and procedures.
Deliver compliance training to employees and track their progress.
Goals:
Maintain a high level of compliance and minimize the risk of regulatory violations.
Identify and address compliance gaps and weaknesses before they become significant issues.
Contribute to a strong culture of compliance within the organization.
Develop expertise in specific areas of regulatory compliance and become a valuable resource for the team.
Challenges:
Staying up-to-date with the latest regulatory changes and interpreting their impact on the organization.
Managing multiple compliance tasks and projects simultaneously.
Communicating complex compliance requirements to non-compliance staff.
Dealing with resistance or pushback from employees who may not fully understand the importance of compliance.
Motivations:
Protecting the organization from legal and financial risks.
Ensuring the ethical and responsible conduct of the organization's business activities.
Contributing to a positive work environment where compliance is valued and respected.
Developing a successful career in the compliance field.
Tech-Savviness:
Proficient in using audit compliance management software, data analytics tools, and collaboration reporting platforms.
Comfortable with leveraging technology to automate audit procedures and streamline workflowsconducting research and analyzing data to identify compliance trends and risks.
Open to exploring learning new technologies that can enhance audit efficiency and effectivenessand tools to streamline compliance processes and improve efficiency.
Behavioral Traits:
Detail-oriented and organized, with a strong focus on accuracy and qualitythoroughness.
Analytical and critical thinkerproblem-solving mindset, able to identify potential risks and weaknesses in financial informationand address compliance issues effectively.
Excellent communicator and collaborator, able to build rapport with clients and team members.Decisive and able to manage multiple priorities effectivelywritten and verbal communication skills for explaining complex regulations and policies.
Collaborative and team-oriented, willing to work with others to achieve compliance goals.
Ethical and principled, strongly committed to integrity and doing the right thing.
Sources of Information:
Professional auditing standards and guidelines (e.g., PCAOB, AICPA).
Industry publications and research on audit and compliance (e.g., The Journal of Accountancy, Compliance Week).
Regulatory updates and guidance from relevant agencies (e.g., SEC, PCAOB).
Networking with other audit professionals and attending industry eventsRegulatory agency websites and publications.
Industry-specific compliance resources and newsletters.
Internal compliance policies and procedures.
Training and conferences on compliance-related topics.
Quote:
"Audit Compliance is about more than just numbersnot just about checking boxes; it's about understanding the story why behind the financial statements rules and ensuring that it's accurate, complete, and reliable. By working collaboratively with our clients, we can help them strengthen their controls, mitigate risks, and achieve their business objectivesour organization operates ethically and responsibly. By staying informed and proactive, we can mitigate risks and build a stronger, more sustainable future for our company."