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Can you tell us what your typical day looks like? It really depends on the time of year. The
period from January to April is typically the peak period for auditors, as most companies undergo their audit during those four months. A typical day usually is spent at the client's office, where we test the client's financial statements to determine whether they present a true and fair view of the client's operations during the financial year, as well as whether the statements are prepared in accordance with the applicable financial reporting standards.
If I'm not booked to perform an audit, there really is no such thing as a typical day! I could either be in the office planning future audits, or undergoing training. Training makes up a significant portion of my off-peak days; as auditing and accounting standards are updated quite frequently, it's important for us to stay abreast of the latest developments.
What parts of your job do you like the most?
The best part of my job is the fact that I am exposed to a wide range of businesses and industries. To date, I have audited companies in the media, consulting, manufacturing, insurance and aerospace industries. I wouldn't have been able to gain such exposure if I hadn't become an auditor.
What parts of your job would you rather do without?
The most common impression of audit is that the hours are long. Unfortunately this is true, especially during the peak period when we have to conduct audits for many companies in a short span of time. Thankfully, the long hours don't last throughout the year.
What parts of your job did you not expect before you applied for it?
Before I applied to become an auditor, I was under the impression that technical skills and knowledge of the accounting and auditing standards were all that was required to do the job. I certainly didn't expect interpersonal skills to be such an important component of my skill set! But I've learned that an auditor's job has evolved beyond mere number-crunching. Equally important are skills such as tact (when dealing with clients) and speaking confidently (with both clients and audit managers).
What advice would you give to someone else who is interested in this kind of job?
If you're interested in becoming an auditor, the best thing you can do is to find out more about the profession; knowledge is power, especially when it comes to deciding on a career path. In this Internet age, information is readily available if you know where to look. A great place to start would be the Vault Career Library, if your university has access to it. Alternatively, you can visit the websites of the many firms out there (such as any of the Big 4 firms - Ernst & Young, KPMG, PricewaterhouseCoopers, or Deloitte). If you can, I strongly recommend securing an internship with an audit firm. Although you may not get the chance to do the actual audit work, you'll get a first-hand look at what it takes to complete an audit.
What qualifications should someone have if they want to work in your field?
Typically, an entry-level position in audit requires at least a Bachelor's degree in accountancy. Some firms will accept ACCA (Association of Chartered Certified Accountants) in lieu of an accountancy degree.
Are there any common misconceptions about your job, and what are they?
One common misconception about auditors is that they are boring people with no life outside of their work. Although we generally have to put our lives on hold during the peak period, auditors are far from boring! My colleagues include a guy who races remote-controlled cars at international competitions, a bass guitar player who performs at weddings, and a tax partner who recently competed at the World Ironman Championships at Kona, Hawaii.
Is there anything else you would like to share?
No one can deny that audit is a challenging profession. But I firmly believe that for those who have the stamina and willingness to learn, it is a great place to begin a career in the financial sector. |