To all the Auditors out there

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    Topic
  • #202225
    payaza2000
    Participant

    I start a new Audit job in a month at a public accounting firm, and I am extremely nervous. I have never worked in Public Accounting, just Private Industry (Nonprofit). I am nervously reading my Financial Accounting & Auditing textbooks, and taking CPE to try to prepare myself, lol.

    Few Questions as it relates to the work:

    1) What would you say is the biggest challenge as an Auditor in Public Accounting (as it relates to the work itself not hours worked)?

    2) What would you say is the easiest part of the job?

    3) What to avoid?

    4) Any tips?

    FAR 5/6/2015- 84
    REG 8/3/2015 - 87
    AUD 10/25/2015- 69 1/20/2016 -75
    BEC 2/26/2016- 80

    Thank you God

Viewing 14 replies - 1 through 14 (of 14 total)
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  • #778098
    acamp
    Participant

    What size firm are you going into and what level are you started at?

    If large public and starting entry level, as an example, you have nothing to worry about as they regularly hire new people and have a pretty standard onboarding process. Day 1 you are expected to know just about nothing. Haha

    Self proclaimed: Highest ratio of Replies to Others v. Posts Created on A71

    California CPA - Big4 Aud Manager Alum - Private Accounting at Startups

    FAR, REG and BEC with Ninja Notes + WTB Only

    Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

    Becker Videos: [AUD - 82]

    California CPA

    #778099
    payaza2000
    Participant

    Its a fairly small firm (30 people). So that was why I was getting a little nervous.

    FAR 5/6/2015- 84
    REG 8/3/2015 - 87
    AUD 10/25/2015- 69 1/20/2016 -75
    BEC 2/26/2016- 80

    Thank you God

    #778100
    Anonymous
    Inactive

    Hey Payaza,

    Congrats on the new job! I've been working in public audit for 9 months now, so I was in the same boat not long ago. Here are the things I've noticed in relation to your questions:

    1) Not sure if it's the biggest challenge per se, but definitely one of the most important ones, is to focus on the big picture when working on a client. When you start you'll probably be doing pretty simple stuff, like auditing cash, setting up audit programs, controls testing/walkthroughs, updating narratives, etc. When working on mundane, boring stuff, it can be easy to get lost in the details and forget WHY you're doing the procedures that you're doing. If you make an effort to understand WHY each procedure is necessary, and how what you're doing flows to the final report and/or connects to other areas, you'll grasp the overall audit much faster and your in-charge will appreciate you having a big-picture understanding of the job.

    2) The easiest part is probably the actual accounting concepts; proposing journal entries to correct mistakes, understanding depreciation methods, and whatnot. FAR was a hard exam but I think AUD and to some extent BEC has more relation to your work as an auditor.

    3) Avoid having a bad attitude! It's easy to complain about long hours, clients not responding to your requests, or whatever, and you'll hear your coworkers gripe endlessly, but if you can keep a positive attitude and actually seek more challenge where others would opt for easier tasks, you WILL stand out.

    4) Always work on improving your writing skills! A large chunk of your work will involve documentation, and your in-charge needs to be able to understand what you're trying to say without wasting time trying to figure it out or asking you what you meant. Also, you'll probably roll forward a lot of documentation from prior years; don't be afraid to improve upon it! Always try to make workpapers easier to understand and more efficient.

    Good luck!

    #778101
    Mayo
    Participant

    4) Any tips?

    First year audit associate survival guide

    Mayo, BBA, Macc

    #778102
    Determined24
    Participant

    Payaza and Busker what review systmes did you use to study

    I am getting started and Challenge #1 for me is to figure which review systems to use

    Pleasehelp

    All or Nothing
    #778103
    Anonymous
    Inactive

    Determined24,

    I used a mix of CPAreviewforfree, Fast Forward Academy, and Ninja MCQ. I only got around to using Ninja on my last exam (REG), but I wish I had bought it sooner. I would highly recommend using CPAreviewforfree as a supplement to Ninja. FFA was okay, but I wouldn't recommend it after having used Ninja. I didn't really have text or lecture materials… FFA's text sucked, and I borrowed the Becker REG text from a coworker but didn't use it much… I mostly learned through trial and error going through LOTS of MCQ's. It's a frustrating but effective way to learn I think. I also attended a free review class for FAR hosted by my uni.

    If you have the money to blow on fancier study materials, by all means go ahead. However, I was broke when I graduated so I had to make do with a hodge podge of cheaper/free materials.

    #778104
    jlp0369
    Participant

    Just go in with a positive attitude and be ready to learn 🙂

    FAR: 87
    REG: 90
    BEC: 74(ouch), retake 7/16/16
    AUD: 96

    #778105
    Anonymous
    Inactive

    How were you able to make the transition TO public. Been trying for YEARS

    #778106
    payaza2000
    Participant

    @Determined24

    I used Becker, but heavily supplemented with NINJA for every section

    FAR 5/6/2015- 84
    REG 8/3/2015 - 87
    AUD 10/25/2015- 69 1/20/2016 -75
    BEC 2/26/2016- 80

    Thank you God

    #778107
    jpump
    Participant

    Sunni – I am not the OP, but I made the transition from industry to public. The first thing I did was pass the CPA exam before even attempting to make the transition. I worked dead-end jobs in industry for approx. 8 years, so I wasn't exactly an attractive public accounting candidate without the CPA. I figured with a CPA license, I could probably get noticed more easily.

    So, I'd say you are on the right track by trying to pass the CPA exam.

    I met with a recruiter and told them what I hoped to do (enter public accounting) and asked if it was realistic to make the transition. This recruiter happened to be working with multiple CPA firms and steered me towards a decent-sized local firm (20-30 people)…long story short, I've been working there for 4 years now

    Depending on your background, your family situation, and your willingness to travel, you can make that transition. Because of my desire to travel as little as possible, I was a good fit for a local firm. If you don't have a family/kids, you may have more options than I had.

    Passing the exam and networking are important. You can start the networking right away – Talk to a couple of recruiters, and see if they work with CPA firms. Tell them what you want to do, and see if they think it is realistic.

    #778108
    Anonymous
    Inactive

    thanks jpump. I'll complete this, hopefully by august and see where it takes me.

    #778109
    Anonymous
    Inactive

    jpump, how do you find a decent recruiter? I keep getting calls/emails from insurance recruiters or people wanting cost accountants (not one, never have been, dont want to be) I'm also very limited as far as location due to family and my spouses job.

    #778110
    jpump
    Participant

    Allegra – I wish I had better advice, but my general opinion of recruiters is not positive. They used to cold call me a lot, and not knowing any better, I would call them back thinking they were calling out of the goodness of their heart. In actuality, they were just pulling my resume off of Monster.com or wherever else I posted it (this was 6-8 years ago). Nowadays, I wouldn't put my resume out there like that. It seems to attract the bottom of the barrel of the headhunter world. My experience was a lot like yours – they kept trying to convince me to take interviews for jobs I had no interest in.

    So, I'm not sure there are a lot of “decent” recruiters out there. I think most of them are just looking out for themselves. I got pretty lucky in hindsight. Not only was my recruiter one of the good guys, but he was actively working with CPA firms to fill positions. He didn't cold call me or even know I existed. I actually reached out to him after finding his firm online. I emailed him and told him about my background, told him I passed the CPA, and told him that I wanted to transition to public accounting. I asked him if he thought it was realistic, and if he wouldn't mind meeting. That's how it all started, at least.

    All I can really recommend is, stick to recruiters that specialize in accounting & finance positions. Look around online – any respectable firm should have a website. A lot of them will have job openings posted on their website. Reach out to several recruiters – email is fine to start. Consider creating a “burner” email account so that they won't have your personal email account. That way once you've found a job, you can delete the account or just ignore it. Any decent recruiter should acknowledge your email, at the very least. Tell them about yourself, make sure they know you've passed the CPA exam, because it really does make a difference. If you know specifically what you want to do (or don't want to do), tell them that in your e-mail. I made it clear to my guy that I was only interested in public accounting, and he never tried to steer me elsewhere.

    There are some good ones out there – all I was looking for in one, was someone who listens well and doesn't BS – I told the guy that if my expectations weren't realistic, he should tell me so. He leveled with me, said it isn't easy to transition from private industry to public accounting – but the fact that I passed the CPA exam sold him that I was serious about it. Without a CPA, he probably wouldn't have met with me. So you're on the right track.

    One other thing I'd say is, a good recruiter should expect you to have some sort of idea what you want to do. Before my recruiter even offered to introduce me to his clients, he grilled me like any potential employer would – “what do you want to do? why? what are your expectations? tell me about your background…” – that showed me that he isn't interested in people that are just looking for a job. (Even if you don't know what you want to do, come up with something articulate to say). Approach a phone call or meeting with a recruiter like you would an actual job interview.

    #778111
    payaza2000
    Participant

    @Sunni

    I kept applying talked to a few recruiters that were useless, but I guess I didn't have any limitations on where i would go or with tax or audit.

    FAR 5/6/2015- 84
    REG 8/3/2015 - 87
    AUD 10/25/2015- 69 1/20/2016 -75
    BEC 2/26/2016- 80

    Thank you God

Viewing 14 replies - 1 through 14 (of 14 total)
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