Finance/Audits Intern
Salary
$16.95 Hourly
Location
Ames - 50010 - Story County, IA
Job Type
Internship
Job Number
25-02217
Agency
645 Iowa Department of Transportation
Opening Date
02/07/2025
Closing Date
3/15/2025 11:59 PM Central
LinkedIn Tag
#LI-DNP
Point of Contact
Dan Ssozi - Dan.Ssozi@iowadot.us
Job Description
The Iowa Department of Transportation’s Finance Bureau is seeking a student who is interested in gaining experience in auditing!
During this internship, you will be exposed to financial and cost accounting concepts working with job cost systems and working with different claimant project cost accounting systems used to capture project costs. You will also learn how to work with risk assessments, develop professional judgment relating to audit risk and materiality, learn audit analytical skills, compliance auditing, and how to identify allowable and eligible project costs. Throughout your time with the IA DOT, you will be learning state and federal regulations.
The primary objective of the finance/audits intern position will be to assist the Finance Bureau with External Audits in pre-contract reviews and final audits, some of which are funded by Federal Highway Administration (FHWA).
Pre-contract review:
- Perform review of the contract
- Prepare work papers to document analytical procedures of the contract estimate
- Prepare a Precontract Review inclusive of questioned costs
Final Audit:
- Perform preliminary risk assessment of project costs billed
- Prepare work papers to document analytical procedures and testing of project costs billed
- Prepare a Final Audit Report inclusive of exceptions
- Assisting Lead Auditor
- Perform specific tasks/audit steps assisting a lead auditor on a large audit
Minimum Qualification Requirements
Currently enrolled students in a degree program at an accredited educational institution.
Additional Qualification Requirements
Accounting Student. Minimum course work required: Intermediate Accounting I & II and Cost Accounting.