A class incumbent is responsible for the management of the Bureau of Corporate and Business audits which has responsibility for the auditing of various business tax returns but primarily corporation income tax filed by the Corporate/Business taxpayer or management of the Unclaimed Property Enforcement Bureau’s audits of corporate and business financial records and documents to determine what liability/revenue is due to the State.
Nature and Scope
A class incumbent reports to the Assistant Director of Office of Business Taxes or Director of Unclaimed Property/State Escheator. An incumbent is responsible for the development and implementation of audit plans and procedures for the comprehensive auditing of corporate and business financial records and documents or all business/corporate tax returns. The audit plan may require an incumbent to develop and/or modify and implement programs for computer auditing of the corporate and business financial records and documents or business tax returns. An incumbent is also responsible for overseeing the maintenance of a computer data base of corporate tax or unclaimed property information and for the maintenance of an accounts receivable/payable system. Work at this level involves directing comprehensive financial analysis of corporate transactions such as adherence to accounting conventions, treatment of assets, profits and losses from corporate reorganizations, employee benefits, divergence from federal tax conformity, transfer-pricing schemes, apportionment and/or allocation of income on foreign and multi-state commerce.
Essential functions are fundamental, core functions common to all positions in the class series and are not intended to be an exhaustive list of all job duties for any one position in the class. Since class specifications are descriptive and not restrictive, incumbents can complete job duties of similar kind not specifically listed here.
Recruits, trains, manages and evaluates the performance of staff.
Develops, implements and evaluates audit plans and procedures for the extensive analysis of corporate and business financial records and documents or all business tax returns and supporting business records. Develops and maintains post audit plans to address omissions and improve the overall quality of both the in-house and field audits.
Develops, implements and evaluates computer systems designed for detailed auditing of corporate and business financial records and documents or all business tax returns.
Conducts conferences with business taxpayers or entities and their professional representatives as a result of complex audits to negotiate a closing agreement.
Maintains and evaluates the processing of the corporate income tax return. Develops system enhancements in order to improve the efficiency of processing the returns.
Designs and updates forms and instructions of dissemination to the taxpayer or entity and administered by the corporate audit bureau or unclaimed property bureau.
Prepares monthly statistical reports of estimates of corporate income tax refunds or quarterly reports of forecasted revenue as well as monthly production and status reports.
Knowledge, Skills and Abilities
The intent of the listed knowledge, skills and abilities is to give a general indication of the core requirements for all positions in the class series; therefore, the KSA’s listed are not exhaustive or necessarily inclusive of the requirements of every position in the class.
Knowledge of State and Federal tax or unclaimed property laws, rules and regulations.
Knowledge of auditing principles and practices.
Knowledge of business accounting systems.
Knowledge of the principles and practices of accounting.
Knowledge of management principles, practices and techniques.
Knowledge of computer based audit systems, and procedures utilized in conducting such audits.
Skill in the interpretation of State and Federal tax or unclaimed property laws, rules and regulations.
Skill in the development of audit plans and procedures.
Skill in the negotiation of closing agreements with business taxpayers and their professional representatives.
Skill in the application of audit principles in the analysis of accounts for tax or unclaimed property compliance purposes.
Ability to develop and implement computer based audit policies and procedures.
Ability to understand, interpret and explain statutory requirements, rules and regulations and departmental procedures.
Ability to communicate effectively, both orally and in writing.
JOB REQUIREMENTS for Corporate and Business Tax/Unclaimed Property Manager Applicants must have education, training and/or experience demonstrating competence in each of the following areas:
Possession of a Bachelors degree or higher in Accounting, Business Administration, Economics, Finance, Business Management, Computer Information Systems or related field.
Three years experience in tax and/or unclaimed property auditing which includes auditing tax and/or unclaimed property documents and records to determine tax and/or unclaimed property liability in accordance with Generally Accepted Auditing Standards, including assessment of internal and external controls.
Six months experience in computer assisted auditing which includes using computer programs to analyze data, select, manipulate and sort data, perform calculations, select audit samples and print reports.
Six months experience in staff supervision of two or more employees which includes to plan, assign, review, discipline, recommend hire, promotion, termination and administer performance plans and reviews.
Knowledge of managing business tax and/or unclaimed property processing, auditing and enforcement activities in accordance with federal or Delaware tax and/or unclaimed property laws, rules, and regulations.