Career Options: Audit Intern

ImageHave you ever wondered what it would be like to work in a certain career or hold a specific position? I wanted to give you all some insight as to what it was like for me to be an Audit Intern at a medium sized CPA firm. I wanted to inform you what my day entailed. Lastly, I wanted to give you some insight as to how to get such a position.

What I Did…

Please understand that every position and company can be different, so I am only writing about my own experiences. The company that I worked for mostly audited government agencies, so the busy season came during the second half of the year. While I was in school, we agreed I would work 3 eight hour days during the week. Because the company was smaller than a Big 4 accounting firm, I got a wider range of duties than the average intern. My travel ranged from 5 minutes to 2 hours depending on which organization we were auditing.

My day consisted of reviewing financial statements and making sure the information was correct. Each line item in the financial statement had a to-do list that needed to be completed. We were there to prove what was on the financial statements was correct. Sometimes that meant witnessing the inventory ourselves or selecting samples documentation to make sure the procedures were followed correctly. At the end of the audit, I would be the final editor. I would check spelling, grammar, and the math of the final financial statement.

What is was like…

If you are one of those people who likes to work by yourself, this may be a good position for you. To me, the job was very lonely. You typically did your work at the agency that you were auditing. Most of the time those employees did not was to talk to you because they were scared of you. At times, we had a group of auditors in a conference room, so I did get to work in a group setting. As an auditor you are required to travel, so you may have to spend the night out of town. It is important to understand the difference between and internal; and external auditor. I was external, meaning I was coming in from the outside and I did not work for the agency itself. I was hired by the agency to do a job.

The position pays well, especially for a student. I have seen hourly wages range from $15-30/hour. If income it important to you, this may be an ideal position.

The hours count towards your CPA experience. If you are working under a CPA, your hours will count towards your CPA certification. You do not have to graduate to start the work experience portion of the CPA certification.

You can move up pretty quickly. If you work hard and pass your CPA exam it is rather easy to keep moving up in these type of organizations. The supply of good, hard-working, Certified Public Accountants is just not as high as the demand. I know many people who pass their exam and got an immediate bump in salary and tittle within the company.

How to get the job…

Start looking early. Most people wait until the last semester to look for an internship. Most organization that I spoke to at Meet The Firms were wanting to hire students in the sophomore or junior year of college. If you get in early and work your but off, you will be ahead of the game.

Have the career center look at your resume. You would hate for a small mistake to keep you from getting that dream job.

Get great grades. Most accounting positions or internships had a minimum GPA requirement, especially in your accounting courses. Make sure you pay attention to your overall and major GPA.

Network! Get to know your classmates, your fellow accounting club members, your teachers, and the companies you want to work for. I first went to an informational meeting for the CPA firm, through the accounting club. Then I introduced myself again at Meet The Firms. After meeting them a few times and keeping in contact, they offered me an interview.

Ace the interview. Review your material. Although if you get good grades, you should understand the basic questions they may throw at you. Review the job description and what you talked about in past conversations. Think about what the company wants and how you can fill that for them. Dress the part, I have never seen an accounting interview that was less than business professional. Practice, Practice, Practice. I used the career center to get a mock interview.

Educational Advice: Picking Classes

In front of the class schedule board on the 2n...

(Photo credit: Wikipedia)

I wanted to pass on some information I wish I knew before I started at the University. This will most likely pertain to community college, also. I can’t stress enough how a class  and the teacher can make or break your semester. Here is some advice to consider when picking your classes.

1.Talk to you counselor– I don’t just mean the general education counselor, your major (business) counselor is just as important. They helped me order my classes, pick my electives, and plan my whole education out. I would even go back every semester. One semester I could not get into the classes I needed, so they wrote me a special pass to get into a class that I did not have the prerequisites for.

2. Evaluate your schedule– Think about your commute. Leave some time for lunch. Do you need time to catch up on homework between classes? Is 6 classes too much? It took me a few semesters to figure out what works for me, but it is important for you to know yourself and what you need.

3. Check the teacher ratings– I can’t tell you how much a mean, difficult, hard to work with teacher can make your semester a nightmare. Go to http://www.ratemyprofessors.com and read about what other students think.

4. Pick classes that interest you– I find that I get a lot more out of college if I enjoy as least some of it. Maybe, take a PE class or an art class to bring some fun to your semester.

5.Pick a variety of classes– I know this may sound like the last one, but I have talked to classmates who take 5 accounting classes in one semester. I don’t even like to take 3 accounting classes at one time, because I get tired of the same material and sometimes I get them mixed up.

6. Take a class with a friend- It can be nice to know someone and talk to someone about the material. If you miss a class, you can have someone to copy the notes from.

7. Have back up choices– With the budget cuts, it is very hard to get the first class you want. I suggest having a list of desired classes. That way, when it’s time to sign up, you don’t have to waste time doing research.

Hope this helps…