[Anonymous]

Hello all,

I am an intern in the audit entry class of a big four firm. I had not taken audit prior to my internship, and i feel like the one week of training alone is not sufficient for the level i need to be at. Talking with a staff member, I was told interns are expected to bring enthusiasm to engagements, and they are more or less handheld through simple tasks. I believe it, but at the same time I truly want to add value in a more tangible way. Also, given that a strong portion of my peers have had an audit class, I don’t share a similar foundation.

Could some of you please share what is “par” for an intern’s skill level, and what you expect of them. No sugarcoating. Auditing cash independently using the software and whole nine yards? More? Less? I am certainly going to ask for help when needed as to avoid spinning my tires, and i’ll also reach out to my coach/buddy/etc, but coming from me, I truly don’t want to slow down an audit.

Advice? What technical level should I strive for by the end of the internship?

[NoobAccountant]

You will be fetching papers, scanning papers, faxing and emailing papers. Probably getting coffee, and going out to fetch lunch.

REG- July 10
BEC - End July
AUD - End Aug
FAR - End October

[fuzyfro89]

You impress by doing what you're told, staying organized, being efficient, asking for help (and doing whatever activity requested correctly after given the guidance), and obviously having a good attitude and getting along with the team on outings/dinners/firm events/etc.

When they say you need “a good attitude and willingness to learn”, they seriously mean just that. Audit class won't do much for you anyway. You're not planning an audit. You're performing the testing at best, and likely very simple testing. Aggregating support. Organize it. Go through samples (agree dates, amounts, vendors, accounts, etc).

If you want to “exceed expectations” as an intern, you don't do it by being a super auditor. Seriously, you will look like a moron for trying if you say something stupid. We all knew those interns who wanted to be the best, and no one liked them. “Well, in my audit class, we learned that actually this may not be correct since we're vouching instead of tracing.” Seriously, an intern said this to me. They did not get an offer for that… among other reasons along the same lines.

– Be friendly

– Do what you're told with a smile

– Ask for help, write down notes on what is asked of you, and don't make mistakes more than once (learn and correct it the next time)

– Get along with the team during lunch/dinners/firm events and be sociable. Don't be the center of attention, but also don't sit silently in the corner

DON'T PRETEND YOU'RE AN AUDIT EXPERT. No one expects that, and it will NOT help you get an offer.

If you want to stand out, come in early-ish… right as the senior/mgr comes in and consistently. Be polished. Dress properly. Don't be a slut. Don't be a prude (goes for males and females).

[Mayo]

“Well, in my audit class, we learned that actually this may not be correct since we're vouching instead of tracing.”

-_-

Mayo, BBA, Macc

[Mayo]

An audit internship is a small tiny preview of what being a first year staff is like. What I mean by that is A.) you won't know anything as a Staff in terms of audit strategy or anything for that matter and B.) the skills to exceed expectations are practically the same. Fuzyfro89 already mentioned it, but to reiterate:

1.) Organization

-Keep an open items list

-Ask questions in batches, unless you're stuck

-Adhere to the 10 minute rule

-Know the expectation for how long a task should take you

2.) Communication

-Be friendly and act like you want to be there; Tackle mundane tasks with a positive attitude.

-Professional communication over the phone and email

-Make sure you understand the tasks asked of you

-Bring a notepad everywhere you go and take basic notes on your tasks

3.) Documentation/auditing

-Leverage prior year, but don't just copy and paste tickmarks and procedures if they don't make sense

-Related to the above: Own your work. Don't just say, “I did it because we did it last year”. For example, if XYZ bank account was closed during prior year, does it make sense to include it in our testing for the current year?. Don't go all

rogue and do whatever you feel like, but at least identify those issues to ask about later.

-Business writing has its unique flavor. Try your best to emulate the style of the documentation. In the end you'll fail because it's a matter of getting experience. But at least a good attempt will stick out to your senior versus just phoning it in.

-Some seniors will have a list of documentation expectations for you to follow; or maybe they have an example of “the perfect workpaper”. Ask if there's any examples of a workpaper with great documentation so you have an understanding of the expectation.

All of what i mentioned above is mostly icing on the cake. If you already have a good attitude, are a team player, and are humble, then you'll do just fine.

Mayo, BBA, Macc

[Mayo]

Also, here's a post relevant to your interests. The OP was asking about tax, but I went on a long winded talk on internships in general.

https://www.another71.com/cpa-exam-forum/topic/what-i-need-to-do-to-prepare-for-an-upcoming-internship

Mayo, BBA, Macc

[Author]

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