Skip to main content

putting together your own audit team

This is in response to the question on whether I get to choose my own team...

It's possible, but takes a good amount of effort. So many client schedules intertwine that it is difficult to pull somebody you like, and place them on to your team. So if you work with somebody and you do end up meshing with their personality and they work hard, you'd want them on some of your clients but will notice that they are already booked.
I've pretty much been working with the same higher-ups since I started. Managers are usually the ones who set schedules. So hopefully he or she is in the loop about the quality of personnel needed for a specific job. The unspoken rule around this firm are that the better you are, the worse the client are that you get put on. Why is it the case? Well, it essentially means that you will be able to handle the more complex clients and your worklife will be more hellish. Unfortunately, the firms don't do enough to seperate the good auditors from the average auditors in terms of salary, and so where's the motivation to perform well outside of anything internally generated? I've personally heard people who said that they don't really try to perform a good job since they don't want to be on bad jobs, and the pay raise over auditors with lower ratings is just simply not enough to motivative them. But i digress.
Back to the question, a lot of politics go into setting up your own team, a dream team of sorts.
You have to get scheduling on your side, that's a group you just do NOT want to piss off. Next thing you know, you'll be scheduled on a job in locations you just do not want to be in.
You also need to schedule your team well in advance, as far back as a year if you can. This foresight will be extremely helpful when arguing with other teams about personnel.
And finally, you better hope your team will still be working at the firm by the time the audit begins.

Comments

Anonymous said…
Hi!
Wow, fast reply. I stayed up till 1AM last night (dawn) reading your blog.
I will be graduating in April and will start articling with a small/medium firm (not among the big 4s plus I don't live in a big city like Vancouver, so I guess it won't be as hellish as what you have right now) on May but I couldn't wait and I'm too excited that I want to find out more about the work environment. Another blog led me to yours, and I just want to thank you...your blog has been the most insightful so far. Thank you, thank you, so much! I hope you don't stop updating your blog. I want to ask you a thousand more questions, but I'll control myself. Hehe. Thanks again.
kokostiletto said…
hahah! you are so right! it's known you CANNOT piss off the admins otherwise they will screw you over!
Bryann said…
Very rare on net to find good blogs for reading your blog is really nice with good explanation of the topic.
UAE Audit

Popular posts from this blog

ADP/Payroll

Just realized that the very payroll/adp reports we all enjoyed looking at in order to see how much our client contacts made, now seem to piss me off. Especially when your main contact, who couldn't tell a debit from a credit, makes significantly more than you, and leaves at 5. It's almost guaranteed to get you in a foul mood and yak with your team about the ridiculous salaries that certain employees get when compared to yours.

should you choose to audit financial services?

I'm trying to decide whether to audit financial services companies or non-financial services companies. What would you say are the pros and cons of either industries? Do individuals who choose non-FS have less career mobility within the firm or if they decide not to stay with the B4 after a few years? Really depends on what you'd like to do after (unless you really love auditing). If you want to a controller,etc. at a p/e firm or a hedge fund down the road, you'd want to go into financial services. The pay won't be too bad, especially if you get a share of the insane bonuses they dole out. If you want to audit industries with tangible products and want to get a better understanding of the operations of such businesses, then other industries are the way to go.In terms of mobility outside the firm, auditing other industries is the way to go since you have plenty of options when you exit the audit world. For example, in 2008, after Lehman collapsed, it was incredibly hard

auditing vs consulting

I was wondering if you could break down the career opportunities in auditing and consulting (in a big 4). I know that consulting pays more in a big 4 and has more interesting work, but it seems that auditing has extremely good exit opportunities (Financial controller, CFO etc). Any thoughts on which is better in the long run? Well there's different consulting services offered by public accounting companies - the most popular being IT consulting and risk consulting. There are also other consulting services offered, but these two hire the most. Do they pay more? Yes, but not by much. Not enough for you to say: Shoot, the $$ is a huge reason for me to move over. Is the work more interesting than audit? Yes. You're actually looking over a company's processes and telling them what to do instead of what not to do (audit). Everyone I know who's made the switch likes it waay better than audit. In the long run though, choosing audit vs consulting really depends on what you want