Former Office Adminstration & bookeeping at Covenant Grove my church
5 months ago
I'm not ready to do an internship yet but I want to learn external auditing. The more I learn in my classes the more I fall in love with it. I like auditing because I will have to be using all of my CPA skills. I also as an external auditor I will be doing my part to protect the process that helps prevent fraud and protects the investors money and holding big corporations accountable. I also really hope to do my internship in one of the prestigious Big Four Accounting Firm. It would be a dream come true to get a full-time job after but one step at a time I was wondering if anyone has any suggestions of things I could do to make me stand out. I will be inducted Beta Alpha Psi this spring but this is all I have learned about. Thank you for any advice.
Former Audit Group Intern at Deloitte & Touché LLP
about 2 years ago
As an Audit Group Intern at Deloitte & Touché LLP, I worked closely with an audit team — approximately 12 individuals — on working and completing an audit of a public company. I completed tasks such as writing memos and completing work papers on Word and Excel. My team members helped me learn how to complete such tasks, and they also helped me learn how to test different financial components — such as investments or leases. As an Audit Group Intern, I was largely able to enhance my skills of auditing, and I was able to truly delve into the accounting world and experience the world of auditing. It was a wonderful experience; I learned much more than I ever expected to!
The internship program at Deloitte Taiwan is very similar to a public accounting internship here in the states. You have a short 1 week training and then you are sent off to your teams. The firm structure in Taiwan is a little different than the big 4 in Milwaukee. Since the Deloitte office in Taipei Taiwan is the headquarter of Taiwan, interns were split to work under a specific group under a specific Partner. It may seem that working under one Partner may seem boring and that your opportunities are limited, but with such a big office (more than 2,000 employees), even working under one Partner, you will have the opportunity to work on various clients in different industries. During my internship I got to work on a IT company, and two manufacturing companies. Since my internship was in the summer, I didn't get to do any year-end audits, I was working on quarterly audits which in the summer, most of them were Q3 (quarter 3) audits. Many of the clients I was on weren't as advance as companies in US. So when I was auditing cash, I had to go into their filing room to pull out paper receipts and bank statements. Other than that, everything else was very similar to what audit is like in the US. Each firm uses their own auditing system and so when I was at Deloitte, I learned how to use their auditing system. Due to the law/ regulation in Taiwan, interns weren't able to work over-time, so I worked 40 hours a week.
The job description of an audit intern depends on whether you are a summer or winter intern. If you are a winter intern, you will be exposed to a busy season audit for the 10-K (year-end reporting) and will learn a lot. You will help out on any of the less risky or tedious areas of an audit, but essentially it depends on your team needs at that time. If you are a summer intern, you will assist in 10-Q (quarterly reporting) or planning for the year-end audit. This will be less strenuous and you will not learn as much as a winter intern. Nobody on your team expects you to know anything. As long as you listen and ask good and thought-provoking questions, have a positive attitude and willingness to learn, you should receive an offer.
An audit intern basically performs the same duties as a full time audit associate i.e providing external audit services with the team members to either public or private client. Basically you will be digging into company’s financial data to take the transactions out on a sample basis and check those transaction from the inception to their final destination on the company’s financial reports.