Accounting

Compliance Accountant job description

A Compliance Accountant ensures financial reporting adheres to GAAP, SOX, and regulatory standards while managing internal controls and audit processes.

Published May 31, 2024Updated May 9, 20261564 likes

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Job brief

We are seeking a meticulous Compliance Accountant to join our finance team and ensure our financial reporting meets the highest standards of regulatory compliance and accuracy. In this role, you will be responsible for maintaining SOX compliance, supporting external audits, and implementing internal control frameworks that protect our organization from financial and regulatory risks. You'll work closely with our Controller, external auditors, and cross-functional teams to strengthen our compliance posture while supporting month-end close processes and financial reporting initiatives. If you have a passion for accuracy, regulatory excellence, and process improvement, this role offers the opportunity to make a significant impact on our organization's financial integrity.

Key highlights

Design and implement SOX compliance testing procedures using risk-based sampling methodologies to ensure internal controls operate effectively
Coordinate external audit processes by preparing PBC (Prepared by Client) schedules, responding to auditor inquiries, and resolving audit findings
Execute quarterly SEC reporting processes including 10-K and 10-Q filings using XBRL tagging and disclosure review procedures
Analyze complex transactions for proper accounting treatment under ASC guidelines and consult with external advisors on technical accounting issues

What is a Compliance Accountant?

A Compliance Accountant is a specialized accounting professional who ensures that financial reporting, internal controls, and accounting practices comply with regulatory standards such as GAAP, IFRS, SOX, and industry-specific regulations. Working with sophisticated ERP systems like NetSuite, SAP, or Oracle Financials, Compliance Accountants implement and monitor internal control frameworks, prepare regulatory filings, and conduct compliance testing to maintain audit readiness. Their expertise is critical for organizations to avoid regulatory penalties, maintain stakeholder trust, and ensure accurate financial reporting that meets the scrutiny of external auditors and regulatory bodies.

What does a Compliance Accountant do?

On a daily basis, a Compliance Accountant reviews general ledger entries for compliance with established accounting policies, performs control testing using risk assessment matrices, and documents process flows for SOX compliance requirements. They collaborate with external auditors during quarterly reviews and annual audits, prepare detailed supporting schedules for SEC filings, and monitor key compliance metrics through automated reporting dashboards in systems like BlackLine or Workiva. They also conduct monthly account reconciliations with a focus on regulatory requirements, investigate and resolve compliance exceptions, and provide training to accounting staff on updated regulations and internal control procedures.

Key responsibilities

Design and implement SOX compliance testing procedures using risk-based sampling methodologies to ensure internal controls operate effectively
Prepare detailed account reconciliations for balance sheet accounts with emphasis on regulatory reporting requirements and audit trail documentation
Coordinate external audit processes by preparing PBC (Prepared by Client) schedules, responding to auditor inquiries, and resolving audit findings
Monitor compliance with GAAP, IFRS, and industry-specific accounting standards through monthly variance analysis and exception reporting
Maintain comprehensive documentation of accounting policies, procedures, and internal control narratives for regulatory examination readiness
Execute quarterly SEC reporting processes including 10-K and 10-Q filings using XBRL tagging and disclosure review procedures
Analyze complex transactions for proper accounting treatment under ASC guidelines and consult with external advisors on technical accounting issues
Implement automated controls within ERP systems to prevent compliance violations and enhance the accuracy of financial reporting processes

Requirements and skills

Bachelor's degree in Accounting with CPA certification preferred, demonstrating mastery of advanced accounting principles and regulatory frameworks
3+ years of experience in compliance accounting, public accounting, or regulatory reporting with exposure to SOX compliance requirements
Proficiency in ERP systems such as SAP, Oracle Financials, or NetSuite, with advanced skills in compliance and reporting modules
Expert knowledge of GAAP, IFRS, and SEC reporting requirements including familiarity with ASC codification and recent accounting standard updates
Experience with compliance software platforms such as BlackLine, Workiva, or AuditBoard for control testing and documentation management
Advanced Microsoft Excel skills including complex formulas, pivot tables, and data analysis tools for variance analysis and compliance reporting
Strong analytical abilities to identify compliance risks, investigate discrepancies, and implement corrective actions within tight deadlines
Excellent written communication skills for preparing audit responses, compliance documentation, and technical accounting memos for management review

FAQs

What does a Compliance Accountant do on a daily basis?

A Compliance Accountant performs control testing, reviews financial transactions for regulatory compliance, and maintains documentation required for SOX and audit readiness. They work extensively with ERP systems to monitor compliance metrics, prepare regulatory filings such as SEC reports, and coordinate with external auditors during quarterly reviews. Daily tasks include reconciling accounts with regulatory focus, investigating compliance exceptions, analyzing complex transactions under GAAP guidelines, and updating internal control documentation to meet audit standards.

What skills and qualifications are required for a Compliance Accountant?

A Compliance Accountant typically needs a Bachelor's degree in Accounting with CPA certification preferred, plus 3+ years of experience in compliance accounting or public accounting. Essential skills include expert knowledge of GAAP, IFRS, and SOX compliance requirements, proficiency in ERP systems like SAP or Oracle, and experience with compliance software such as BlackLine or Workiva. Strong analytical abilities, attention to detail, and excellent written communication skills are crucial for preparing audit documentation and technical accounting memos.

Who does a Compliance Accountant work with in an organization?

A Compliance Accountant collaborates closely with external auditors during quarterly and annual audits, works with the Controller and CFO on regulatory reporting, and interfaces with legal teams on compliance matters. They also coordinate with IT departments on system controls, train accounting staff on compliance procedures, and communicate with regulatory bodies when required. Internal partnerships include working with accounts payable, financial reporting teams, and business unit managers to ensure compliance across all financial processes.

Why is a Compliance Accountant important for businesses?

A Compliance Accountant is essential for protecting organizations from regulatory penalties, maintaining investor confidence, and ensuring accurate financial reporting that meets audit standards. They help prevent costly compliance violations, reduce audit fees through proper preparation and documentation, and strengthen internal controls that protect against fraud and errors. Their work is particularly critical for public companies subject to SOX requirements and organizations in regulated industries where compliance failures can result in significant financial and reputational damage.