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    Right, so I know that audit is mostly visiting clients and checking their financial stuff which is very repetitive. But what I wanted to know is...would this be done in teams/colleague or solely on your own?

    P.S I refer to the 3 years training for ACA...
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    depends on the size of the assignment

    initially it will mainly be in a team with a manager/semi-senior supervising you

    then when you get more experience you might be able to do some smaller jobs on your own (though they are less of these in larger firms as they have bigger clients) so mostly likely to be in a team
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    Although the process of auditing is the same for each client, audit provides much more variety that tax as you visit different clients all the time. One week you might be auditing a football club, the next a steelworks and then a bank or council. If you work for the big 4 in London you'll probably work on larger clients within a certain industry, but in the regions you could be auditing anything.
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    (Original post by rscully)
    Although the process of auditing is the same for each client, audit provides much more variety that tax as you visit different clients all the time. One week you might be auditing a football club, the next a steelworks and then a bank or council. If you work for the big 4 in London you'll probably work on larger clients within a certain industry, but in the regions you could be auditing anything.
    Surely it would be quite **** auditing by yourself....I wouldn't mind having some other colleagues to help and make the work a little less boring.

    Obviously auditing won't be a doss with your work mates but it would seem really boring doing all that repetitive work by yourself...If you know what I mean.
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    (Original post by The Enchanted Milkman)
    Surely it would be quite **** auditing by yourself....I wouldn't mind having some other colleagues to help and make the work a little less boring.

    Obviously auditing won't be a doss with your work mates but it would seem really boring doing all that repetitive work by yourself...If you know what I mean.
    Of course, but the majority of the time you won't be on your own.
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    (Original post by rscully)
    Of course, but the majority of the time you won't be on your own.
    oh ok thanks..That sounds a bit better then..

    So I take it you travel to clients together in a group?
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    possibkly but seeing as you usually have to be their in the morning most people go direct from home to the clients office and then back home from their if they don't need to do any work in their own office
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    (Original post by The Enchanted Milkman)
    oh ok thanks..That sounds a bit better then..

    So I take it you travel to clients together in a group?
    Travel wise, you'll either share a car, drive individually or get public transport. People usually like to drive themselves as the petrol money is good (40p per mile) but budget constraints etc. can have an impact.
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    How much time do you spend out at client sites usually (as a percentage of your total work time)? Does it change as your seniority within the firm changes?
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    (Original post by rscully)
    Travel wise, you'll either share a car, drive individually or get public transport. People usually like to drive themselves as the petrol money is good (40p per mile) but budget constraints etc. can have an impact.
    oh ok thanks for your help.

    Can you tell me what auditing involves. A lot of people say it's boring.

    I know it involves alot of ticking. So you go to your clients and what....sit in their office checking their computers?
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    (Original post by teriaki)
    How much time do you spend out at client sites usually (as a percentage of your total work time)? Does it change as your seniority within the firm changes?
    In the first year your time is split between study and work

    so after taking out the study time - you will be at client sites most of the time and only really in the office for planning and finishing up the audit report or if something else comes up that you need to do in the office

    as you progress you will do less studying and spend more time on audits - once qualified you will be doing it all the time

    once you become manager/director/partner you might be working on more audits at the same time so will co-ordinate them from the office/move between them a lot

    it isn't uncommon to visit an audit department and find it mostly empty as people are out on assignments

    as for what audit is http://www.wikijob.co.uk/wiki/audit-assurance
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    (Original post by The Enchanted Milkman)
    oh ok thanks for your help.

    Can you tell me what auditing involves. A lot of people say it's boring.

    I know it involves alot of ticking. So you go to your clients and what....sit in their office checking their computers?
    Go on to any of the big 4 websites (or wikipedia) and you'll get a decent idea. The amount of actual ticking you do is overegged! Basically, you have to gain assurance over the figures the client is presenting in the financial statements. There are standard tests within each firm, but these are flexible and will change from client to client. If you can say "I'm happy that these figures give a true and fair view" and can document that with evidence you've done your job. It involves controls testing, substantive testing (the 'ticking' part), sampling. As I said, check out a big 4 site.
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    Working for a small firm in general practice I find I'm only out at a client about 1 week in 4 (excluding study weeks) -with big firms it's more like 3 out of 4 I think. The biggest team we ever have for the size of clients we do is 3.

    I've done a few audits on my own - the size of team depends on the amount of work that is needed and the complexity of it. Also if a company only has 1 person in the accounts department I reckon it's not cost effective to have 2 different auditors there asking them queries (some places do need audits even if they have an accounts department this small, though that's probably the exception).
 
 
 
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