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Frustration..where have you been?

Took a few months, but the reason why I was so frustrated with this job hit me again this week. Managers who bear down on you to finish off 3 days worth of work in one day. Clients who have no idea what your job entails, and who are shocked by the fact that their g/l detail isn't enough as support. Trying to audit accounts, which are in essence, unauditable due to a lack of support. April and May year-ends.

I have to say, small private companies can sometimes be a major shitshow. Quickbooks? Look, I understand that quickbooks are easy to use and are cheap. But if you can afford to pay five figures in audit fees, I think an accounting application upgrade is due.

Comments

Just an auditor said…
Just read through several of your blog entries and was wondering why you don't go out on your own. You're obviously a smart guy. Can't understand why you prefer to stay where you're at and continue your daily ranting on this blog. Maybe I'm too much of an optimist, but I think auditing is a worthwhile pursuit, and a responsibility you are involved with because you care about the public interest. My motto: If you don't like the koolaid, make your own.
July 5, 2009 at 5:38 AM
notfordisplay said…
a) Not sure if you noticed, but it's pretty bad out there. The good jobs are few and far between at this moment. So it's best to stay.
b) it's not "daily ranting" sadly.
c) the belief that most auditors care about the public interest first and foremost, is delusional. Don't be fooled, most of us do this for the experience and for the $$. I never said it's not a worthwhile pursuit. It's just not done right.
Looks like you've been enjoying the kool-aid. Tastes good at times.
July 5, 2009 at 5:27 PM
Anonymous said…
While the idea of going out alone is nice...please bear in mind that a lot of audit clients choose their auditor for their name brand, particularly larger clients. Additionally non-compete agreements are a standard part of the employment arrangements at most accounting firms, so it's not possible to just take 3 or 4 clients and branch out. Add to this the fact that it is quite important to have senior technically proficient managers and partners reviewing workpapers and financial statements and it becomes apparent that the idea of striking out alone is rarely economically feasible for anyone below partner level.
July 5, 2009 at 5:27 PM
Anonymous said…
lmao at branching out. ppl are always encouraging me to do it, too: "you have your license,why not start your own firm?" yeah, right, dude. YOU start your own firm in this crap economy. no, thanks.
July 6, 2009 at 7:08 PM
Anonymous said…
Ugh, it's so true.

I work at one of the larger firms in the country that doesn't have a lot of public clients. Pretty much dealing with this now. My favorite is when they will pay $50,000+ for an audit, and then hire their college dropout son to be the Controller. Land of the free indeed.....
July 7, 2009 at 5:29 PM
Just an Auditor said…
I have been auditing for about 10 years now, so I must be way beyond delusional. I work for a small firm, they don't work you to death. We get off at noon on Fridays. We still work hard (last week I was there one night until 11pm). But I guess my perspective reflects auditing on a smaller scale. I hated a bigger firm I used to work at. But at a smaller place, I started realizing the value of what I do. I used to throw my review notes in the trash. At the bigger firm, review notes were just an ego trip for someone with too much time on their hands. But at the smaller firm, time is money- hard-earned money- and the review notes are to the point: get what we need in the file so we don't get sued or get a poor peer review. I know I'm rambling here but I am wondering if you wouldn't be happier at a smaller firm and not one of the "Big 4".
July 7, 2009 at 7:11 PM
Nightwolf said…
I've been reading your blog for a while now and I was astonished about how you discribe some of your day to day on the job actions and how it is alomst identical to what happens in my firm. I'm a staff assistant auditor for Mazars (anyone heard of it?) a french auditing firm, Egypt branch.
I was wondering if you could help me on this one but I'm kinda in a mess around here. I've just joined the firm a year ago but since then I'm only stuck with the not-for-profit clients and I had enough. I'd speaked with the scheduler and it tells me that managers keep asking for you cause u've audited this firm before and you can get it done alot faster than enyone new. I'm stuck here and dunno what to do?!?! I want to get engaged in other clients, industries, services ... etc. any advice?
July 8, 2009 at 12:21 AM
notfordisplay said…
Looks like the frustration is global. You really have to get out of your current situation. Don't know if you have counselors in Egypt. But talk to managers,senior managers, even reach out to partners. Start slow, ask for clients in different industries instead of asking to get out of the non-profits. Believe me, the longer you stay in the non-profit world, the deeper you're stuck. As you know, non-profit auditing is unlike normal public and private company accounting, so it's not good for your long-term plans unless you want to work for private non-profits down the road. The scheduler can't help much when it comes to veto-ing the manager.
I understand that with the current economy, you can't step on toes. So you have to subtle about it, but I can't stress enough that you shouldn't do it year-round.
July 9, 2009 at 3:34 PM
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