Advice Needed: What to Learn Before Starting an Audit Role
Hello everyone,
I’m excited to share that I’ll be starting an Audit Graduate position at RSM in Australia next year! However, I’m also feeling a bit apprehensive about the journey ahead. I’ve heard that balancing work responsibilities with studying for the CA will be challenging, and I want to be well-prepared.
I would greatly appreciate any insights from those who have been in a similar situation. What specific skills or knowledge should I focus on before I start? Here are some thoughts I’ve had:
- Should I familiarize myself with any particular Audit software?
- Are there advanced Excel skills worth practicing?
- Would it be beneficial to begin studying CA materials now?
I have some background in Accounting and have worked with Xero and MYOB, but I lack experience in auditing. I’m concerned about managing both training and work duties once I begin.
Any tips, suggestions, or experiences you can share would mean a lot. Thank you all!
One response
Congratulations on your new role at RSM! It’s completely normal to feel a bit anxious before starting a new position, especially in a field as challenging as auditing. Here are some tips that can help you prepare for your new role:
Familiarize Yourself with Audit Software: While you may not need to be an expert before you start, getting a basic understanding of popular Audit software like CaseWare or IDEA can be beneficial. Many firms use specific tools for data analysis and working papers, so having a head start can make the transition smoother.
Advance Your Excel Skills: Excel is a fundamental tool in auditing. Consider focusing on functions and features like pivot tables, VLOOKUP, and data analysis tools. Being comfortable with these can help you analyze financial data more efficiently.
Start Studying CA Materials: If you can, begin reviewing CA materials related to auditing and financial reporting. Having a foundational understanding of these concepts will ease the pressure during your studies. Look for resources that align with the areas you’ll be focusing on in your role.
Understand Audit Fundamentals: Brush up on basic auditing principles, such as risk assessment, materiality, and the audit process. Knowing these concepts will give you a solid foundation to build upon when you start your work.
Develop Time Management Skills: Balancing work with CA studies can be challenging. Consider implementing a time management system now, so you can better allocate your time for study and work when the time comes.
Network and Seek Mentorship: Connect with colleagues or alumni who are currently in auditing roles. They can provide valuable insights and tips about what to expect. Don’t hesitate to reach out for mentorship; having guidance can help you navigate challenges more easily.
Stay Curious and Open-Minded: The auditing field is constantly changing, so maintaining a curious mindset will serve you well. Be open to learning from every experience, and don’t hesitate to ask questions when you’re unsure.
Remember, everyone starts somewhere, and it’s normal to feel overwhelmed. Just take it one step at a time, and you’ll gradually find your footing. Good luck with your new role; you’re going to do great!