Looking for Advice: What to Learn Before Starting My Audit Role!
Hello everyone,
I’m excited (and a bit anxious) to share that I’ll be starting as an Audit Graduate at RSM in Australia next year! I’ve heard the transition to balancing work with studying for the CA can be quite challenging, and I can already feel the pressure building.
I would greatly appreciate any advice from those who have gone through this experience. Are there key skills or areas of knowledge I should prioritize before my start date? Here are a few specific questions I have:
- Should I familiarize myself with particular Audit software?
- Are there advanced Excel skills I should hone?
- Would it be beneficial to begin studying CA materials now?
I do have some Accounting experience and am familiar with Xero and MYOB, but I lack any auditing background. I’m concerned about managing the training and work demands once I begin.
Any tips, suggestions, or insights you can share would be immensely helpful. Thank you all in advance!
One response
Congratulations on your new role at RSM! It’s completely normal to feel a mix of excitement and nerves as you prepare for this new chapter. Here are some suggestions to help you get ready for your Audit position:
Familiarize Yourself with Audit Software: It can be very beneficial to learn about the common Audit software used in the industry. Programs like CaseWare, AuditCommand, or IDEA are worth exploring. Many firms provide training, but getting a head start will give you a solid foundation.
Enhance Your Excel Skills: Proficiency in Excel is crucial for analyzing data, preparing reports, and managing budgets. Focus on mastering skills like pivot tables, VLOOKUP, conditional formatting, and data visualization. There are plenty of online resources and courses that can help you.
Start Studying CA Materials: It’s a great idea to get a head start on your CA studies. Familiarize yourself with the syllabus and consider starting with topics that are fundamental to auditing, like financial reporting and ethics. This will help ease the transition once you begin formal studies.
Understand Auditing Standards: Get acquainted with the Australian Auditing Standards (ASAs) and International Standards on Auditing (ISAs). Understanding these guidelines will be helpful in your role as an auditor.
Brush Up on Accounting Principles: Ensure your understanding of fundamental Accounting principles is strong, as auditing is rooted in these concepts. Reviewing key financial statements will be beneficial, too.
Develop Soft Skills: Communication, teamwork, and problem-solving skills are just as important as technical abilities. Working on these skills will help you interact effectively with clients and your team.
Network: Connect with current auditors or other CA candidates. They can offer valuable insights and may provide resources that helped them during their journey.
Consider Mock Audits: If possible, try to see if you can participate in any mock audits or case studies. This experience can provide insight into the audit process and enhance your understanding.
Remember that it’s okay to feel apprehensive, but you’ve got this! Being proactive and investing time in your preparation will make the transition much smoother. Best of luck with your new role and studies – you’re embarking on an exciting journey!