What to expect as a first year audit trainee at a Big 4 Firm

Summary

Maddie, a second-year auditor at a big four firm, shares her journey from struggling student to professional, emphasizing the importance of perseverance. She discusses the realities of entering the auditing field, including initial training, the learning curve, and the demanding yet rewarding nature of the job. Maddie offers advice for new auditors, highlighting the significance of mastering Excel, asking questions, embracing challenges, and building client relationships. She also provides insights into the transition to senior roles and the diverse career opportunities that auditing can lead to.

Takeaways

• 🎓 Maddie, a second-year auditor at a big four firm, shares her journey and insights into the auditing profession.
• 📚 She emphasizes that academic performance does not dictate professional success, encouraging students not to be disheartened by low marks.
• 🏢 Maddie describes the initial training at a big four firm, focusing on learning firm-specific systems and basic auditing techniques.
• 👩‍💼 She assures that it's normal to feel overwhelmed as a newcomer, and the first year is about learning with minimal expectations.
• 🛠️ Excel proficiency is crucial for auditors, and Maddie advises starting to learn basic shortcuts and functions early on.
• 📈 Being placed on the first client can be daunting, but Maddie highlights the importance of having a supportive team and the learning opportunities it brings.
• 📊 During the busy season, auditors can expect to work hard with tight deadlines, but it's also a time of rapid learning and growth.
• 🤝 Building relationships with clients is key, as it facilitates a smoother audit process and is a valuable skill for professional development.
• 📈 Maddie shares that after the initial busy period, the workload tends to decrease, allowing for reflection and preparation for future challenges.
• 💼 As auditors progress, they take on more responsibilities, including mentoring juniors and managing audit projects, which helps in developing leadership skills.

Q & A

What was Maddie's initial experience with her academic performance before starting her channel?

Maddie was failing all of her subjects and needed a creative way to improve her academic performance.

Why did Maddie start her channel?

Maddie started her channel as a creative way to help herself and others avoid failing academically.

What was Maddie's perception of the auditing profession before joining it?

Maddie had heard horror stories about long hours, difficult clients, and generally not enjoying the experience.

What does Maddie suggest about the correlation between academic marks and professional success?

Maddie advises that academic marks should not dictate how one will be as a professional, as they do not necessarily reflect professional success.

What is the first week at a big four firm like for a new auditor according to Maddie?

The first week at a big four firm involves mostly training, learning the systems used by the firm, and the basics of auditing.

What is the importance of learning Excel for an auditor as emphasized by Maddie?

Excel is crucial for auditors as it is their primary tool for work, and proficiency in it is essential for efficiency.

How does Maddie describe the workload during the busy season for auditors?

Maddie describes the busy season as a period of intense workload, tight deadlines, and high stress levels due to the need to complete audits swiftly.

What advice does Maddie give to first-year auditors regarding their learning process?

Maddie advises first-year auditors to embrace the learning process, ask questions, and not be too hard on themselves as they are expected to learn quickly.

Why is it important for auditors to build a relationship with their clients, according to Maddie?

Building a relationship with clients can make the audit process more efficient and pleasant, as clients are more likely to provide information quickly and cooperate.

What does Maddie suggest about the value of challenges in an auditor's career?

Maddie suggests that challenges are valuable as they force auditors to learn and adapt quickly, leading to personal and professional growth.

What is Maddie's perspective on the career opportunities for a qualified auditor?

Maddie believes that being a qualified auditor opens up numerous career opportunities due to the diverse business expertise and problem-solving skills auditors acquire.