[Anonymous]

I have read the government auditing chapter for 2 times and have done the MCQ twice. However I have trouble understanding the concept. I’m using Becker and I feel like they did a bad job on this topic.

My exam is in less than a week, can you guys please give me some advice?

[Quinacridone]

Can you be anymore specific with what you are having trouble with? I'm not sure what to help you with as the topic of governmental auditing is quite broad. Perhaps posting specific MCQs that you don't understand could be helpful.

I'm a governmental auditor – our rules are a little different than the typical as we fall under GAGAS (the yellow book – yes, the book is yellow). The big difference is the expanded internal control testing/reporting requirements and compliance with regulations.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[henryv]

Hi Quinacridone,

If you meant expanded, do you mean that governmental audit do more work as compared with corporate audits? How about the challenge or complexity government audit provides?

Whenever I tell someone that I work as a government auditor, they usually tell me that its a trash job as compared to doing audits to corporate businesses. I don't know how to explain the scope of it compared with corporate audits as I haven't done one and I always say that I couldn't conclude yet since I haven't experienced corporate audits.

Thank you for your input.

as I haven't done one, but I do say that I couldn't conclude yet since I haven't experienced private audits.

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[AGI]

To henryv,

I don't think the “expand” necessary mean you got to do more work as compared with corporate audits. I think corporate audit and governmental audit had about the same amount of work load, just on different topics.”

In governmental audit, we focus more on internal control (within the office, within the the division, agency, board, etc). There are certainly more reporting requirements here and there, especially if it is mandated by law. Also, most of the time you are dealing with people who are not really finance or accounting orientated, and a lot of time you run into political issues.

I think the scope of governmental audit just goes around “making sure the program or agency is following certain law mandated by the government”. (Well, it really depends on what type of governmental auditor you are, rather you are internal, city, state, federal, or public auditor hired by government to audit. They all work differently and have different scope.)

To make it short, basically, everyday is a drama and a challenge (base on my daily office experience).

Corporate audit runs on a whole different perspective. Everything is about making money. It doesn't focus on the law as much and most of the time you are really trying to nail down specific things that every corporation will do. A lot of times you will run into situation where you know they are doing it wrong, and they know it too, but to make a profit, or what they call “reasonable accommodation”, they decide to go the wrong way.

---

Final thoughts:

I don't think government auditor is a trash job, personally I worked my way out of college with the government. I did join a private firm for a while and was interviewed by big corporation, but I end up in non-profit and eventually move to governmental. In fact, I was hire by the government even before I graduate from college…

But I understand why people say it's a trash job, because most people had no clue what governmental accounting is, until they take the CPA exam! College doesn't teach governmental accounting anymore, they cut down on classes and only focus on corporate accounting. In fact, in order to obtain donation from those corporation, they kinda brain-wash all my classmate that corporate accounting is GOD-LIKE and should be the only accounting path you should ever take. I was the only person in my auditing class (about 500 students) that picked non-profit / governmental accounting. Most of classmate have no clue what a 501C-3 is…

But you should not be upset being a governmental accounting, at least it gives you a job and it feed you nicely (I hope.) My friend graduated with me in the same year and he is still trying to look for a job! He truly believe he would join corporate accounting and he waited too long to discover the truth. He spent his whole college life trying to get an corp internship and end up in nothing.

NY - CPA

New York - NYC
Passed CPA Exam (11/2014)
In search for a position in NYC that will fulfills the license requirement.

[henryv]

Hi Yellow,

Thank you for the response. Now I know the key difference between the two.

Whenever people brought job comparisons in a conversation, I say with confidence that I'm a government auditor. Then, people will sometimes rebutt me to look for another work because government experience is not good. Way to improve my self-esteem *sarcasm*

I did not take any government accounting during my college years and only learned it during my review. I blame the government antiquity though more than anything else. I did an audit for an agency that is not applying

the current accounting principles and systems and it was a nightmare. It was a first time audit for that client, and we had to literally be the bookkeeper for that client to the extent of materiality lol. They do their own books, but their applications of principles is so wrong we suggested a lot of adjustments.

Just another off-topic, if I'm a government auditor and I want to look for work in corporate accounting, how will I persuade my future employers that I'm the person they need? Thanks again.

FAR - 92 02/2013
AUD - 90 05/2013
REG - 85 10/2013
BEC - 80 12/2013

I'M DONE. THANK YOU LORD!

[Quinacridone]

Henryv, I'm not sure about how to convince a potential corporate employer about your relative qualifications.

For the govt auditing I do, I'm heavy heavy heavy into law. I have to do an unbelievable amount of research and have to be really adept at combing through Federal laws such as the Economy Act, Sikes Act, etc. Since this is such a major part of what I do (and something I'm good at), I would likely present that as one of my strengths if I were ever to go to work for a forensic type audit agency (my dream career) or even tax research.

As I said, we also have to do pretty extensive internal control reviews. My audits revolve around the results of these tests, which I know that public sector do as well. I'm told by another govt auditor in our office who used to work public that our requirements are far more extensive. This would be another strength that I would present to a potential employer (because not all auditors really grasp the whole entire concept of internal controls – even in my agency, I see some auditors struggle with this).

This same auditor has also told me nightmares about working in private: pull sample of A/R; oops, determine error rate is greater than tolerable rate; pull larger sample to dilute the error rate; repeat till error rate is less than tolerable rate.

In my world, that would be a fail. I am grateful that I don't have to play the money/keep the client happy game in govt auditing. I just write them up or give them an opportunity to correct something (which then is still put in the audit report).

Also, I did have a government accounting class in my master's program. Most of the students said it was one of the tougher classes offered in the curriculum. When you learn GAAP, then govt accounting is like a foreign language.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[AGI]

Yea. I took a partnership, nonprofit and govermental accounting class in college. That was the easiest class ever.

Back to the question, I agree that knowing good bookkeeping skills, internal control, law and analysis basically should be able to sell yourself into corporate accounting. However, to make myself standout, I would do critical pin points and give the interviewer teal life example.

Of cause, this depends on what type of job you are interviewing for.

First, after listening to the job description and the focus area, I would ask the person what type of work you will be doing in the team and what position you will be holding within the team.

Then I would ask the person what type of person he is looking for (or skills ) and I will just answer base on that. If it required hard skill like analysis bookkeeping law internal control..just say you got them and give examples. If it is soft skill like communication or teamwork you just describe what you do in job and give useful examples (should writ a pre-script ). You should also mention in critical you had work with other auditors before or in a team and describe clearly with their title, number of people in the team and emphasis teamwork. You can also talk about your client skills if you are good at them.

I will also mention, if applied, anyone you know already working in the firm and say they will definitely give positive feedback about you, and that you know the way how their firm or accounting policies work. (Like if you are ebony interview by e & y you should know some e & y people.

I will also mention although you had not work in corporate accounting you had experience reviewing corporate accounting firms book through governmental accounting. Afterward, no one expected you know anything, they send you to training right after hire. Don't forgot to mention your CPA if u have or you test.

In some extended your degree will help if it's really famous, or if 50% of the accountant in your city came from the same school. You should also mention your reference if you had some good ones that they have some corporate friends. Or if they are CEO and cfo that have reputation.

By the way, did I mention I was not a government auditor? I was just by chance dealing with a bunch of auitors that come audit my department. Not that I really want to deal with them..

I think the easiest way fidelity over is to join a public accounting firm and then wait for your time to rotate to corporate accounting and start from there. Well, are we taking about auditing corporate accounting or wokring in corporate accounting as internal auditor?

NY - CPA

New York - NYC
Passed CPA Exam (11/2014)
In search for a position in NYC that will fulfills the license requirement.

[Author]

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