Starting at BIG 4 Audit. How to prepare myself?
Good day.
I am about to finish my undergrad at a non-target, but during the last month I was able to land an audit position at one of the BIG4. The job itself starts only at September and I want to do as much preparation as possible before that to have great performance record and minimize the learning curve as much as possible.
My major was in Finance and I have only taken two classes in Accounting (Managerial and Financial). I had A's in both of them, but I tend to forget material I do not use, and since I had taken them few years ago, some of the concepts are rusty.
What would be the best way to prepare myself for this audit position? What accounting courses should I take and what material I should focus on in depth? Again my goal is to be great performer there from the beginning and minimize the learning curve as much as possible.
Thank you.
At most of these firms, a good amount of your advancement will be based on your certifications. So if you really want to get ahead of the curve, take the summer to start studying for something like the CIA, or the CFE. It's something that they might ask you to do anyways so you might as well start now. If you have have Big 4 experience AND you have a CIA you'll basically never have trouble finding a job for the rest of your life.
First off, congratulations on the position. I started at a BIG4 firm two years ago and the one piece of advice I wish I had followed was getting through as much of the CPA as possible. The bulk of the work you will be doing won't require an extensive knowledge of accounting principles so you should be okay.
Firstly, congrats. I too am in Big 4 (though just put in my notice).
Hand in hand with what mmmkerr said, definitely get as much of the CPA done as possible. Not because it's all that useful for your job, but just so that you don't have to worry about it once you're actually out there auditing. Plus, as you know, finish in a year and you get that $5k.
Otherwise, there's really not much you can do to prepare. It's really a "learn as you go" kind of industry. I guess if you're bored you could familiarize yourself with some excel formulas (vlookup, sumif, etc.) as there's usually a steep learning curve for junior members. Make sure you know how your debts/credits work too if it's been a while.
Good luck though.
I did an internship in audit with the Big 4 and trust me, the seniors and people you work with aren't good at what they do because of school. It all comes with the training they give you and from working on the job. You will be fine, don't worry.
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