First Year Audit Assignments

  • Creator
    Topic
  • #1594347
    jinevins
    Participant

    I am starting full time in Audit as an associate in the fall. I was wondering which areas I should expect to work on and if anyone has any advice on where and how I can review these areas so I am well prepared for when I start!

    Thanks for all your help!

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #1594352
    Ndom1
    Participant

    It could be anything really.

    When I got hired, in less than a month I was doing an inventory count and put on a pretty big audit for a manufacturing company.

    I mostly did the rookie sections in my first 2 years. Cash and investment recs. Control Walkthroughs. Legal expense. Payroll rec. Fixed assets. Accrued liabilities. etc. There is a large range of things they could have you do.

    My biggest advice to you is to learn as much as you possibly can and ASK QUESTIONS. You will have a ton of questions and realize it is nothing like what school taught you. The worst thing you can do is waste a managers or seniors time by not asking a question. I learned that the hard way.

    Congratulations on the job. Wish you luck.

    AUD - 86
    BEC - 79
    FAR - 87
    REG - 78
    G
    #1594413
    Bluetoothray
    Participant

    I would second what NDom1 said. It depends on the needs of the office, client, and team. It also depends on your willingness to grow. When sections are being assigned you can be proactive and ask to take on something you haven't taken on before. As a first year I've done a few sections I wouldn't otherwise do. Journal Entry testing for example. While I would recommend that you ask questions I would be careful. Seniors and managers are busy. They are managing up and down and need what help they can get. It's a hard balance to learn how many questions is too many or too few. If you ask too few, especially at the beginning, you won't learn what you need and you'll “spin your wheels.” If you ask too many, then you'll be more of a burden to your senior. If you have a good first senior, which I hope you do. I would ask them questions in mini groups. Let's say you're given an area to work on. They gave it to you with a little bit of instruction and some resources. 1. Study out the workpaper. Figure it out completely. Figure out what's going on as best you possibly can. When you're curious about something, make a note and move on. As you examine the workpaper you'll understand things and potentially resolve previous questions that you had. Once you have a small collection of questions ask them at the right time. That way your senior doesn't feel like he/she's being pestered every couple of minutes. 2. Use all of the resources you have been given. If the senior gave you a work paper and support to work on, then rest assured 90% of the time at least a good chunk of what you need can be found in that support document. This means that you'd better read and study and pick that thing apart to get what you need from it. If you do this then when you ask your senior you won't get the “If you look at the support you'll see…..” response. I have had that response too many times, but I'm a lot better than I was. Also try and recognize when your senior or manager is busy working on something or “in the zone.” They might be happy to help you and they might stop what they're doing and help, but it will build a little level of annoyance. They can be the most patient and kind person, annoyance can grow little by little. Be aware of how your questions affect the senior. Are you helping him/her get the audit done? It's a tricky balance. It takes time and a few patient seniors to figure it out. Good luck! Have Fun!

    AUD - Passed

    BEC - Passed

    REG - Passed

    FAR - Passed

    CPA - VA

Viewing 2 replies - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.