Audit clients are aware that Big 4 associates may not be as knowledgeable as they appear
Yes, there are partners and managers in the mix, but it is the associates and seniors who are doing most of the heavy lifting with preparing the workpapers.
The new associates at the Big 4 don’t receive much training, they are often just handed a spreadsheet and expected to figure it out.
Many of these associates do not have previous experience working in the industry.
As a result, a lot of them are just flying by the seat of their pants and doing the best they can.
Do Audit clients recognize that the “auditors” may not have as much expertise in auditing or Accounting as they might assume??
One response
Do Big 4 associates have a deep understanding of Audit work?
When it comes to Audit work, it’s important to understand the dynamics of the team and the level of experience of each member. In the Big 4 firms, there are partners, managers, seniors, and associates who all play a role in the Audit process.
While partners and managers may have more experience and expertise in auditing, it is often the associates and seniors who are responsible for preparing the workpapers and conducting much of the day-to-day work.
It is true that new associates may not receive extensive training before being assigned to audit engagements. In some cases, they may simply be handed a spreadsheet or instructions and expected to complete the work. Additionally, many new associates may not have previous experience working in the industry they are auditing.
Given these factors, it is possible that some clients may question the level of expertise and understanding that these auditors bring to the table. Clients may be aware that associates are learning on the job and may not have a deep understanding of auditing or Accounting principles.
It is important for auditors to communicate effectively with clients and demonstrate their knowledge and professionalism to build trust and confidence in their work. As auditors gain experience and additional training, they are better equipped to handle complex audit engagements and provide valuable insights to their clients.