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Curious about this too! Found some intuit training for bookeeping and taxes. Also there are forage trainings from various firms different topics. Maybe these along with starting the practice can be useful
Agree with everyone in here, but disagree with your big 4 comment on seeing transactions. If you’re really looking at what your auditing, you should get some appreciation for how the journal entries transactions work. You should be making sure the entries you’re testing make sense. Granted you don’t see every business process, but in taking ownership of the one you do work in, I’d encourage taking a deeper look (even though I know there is always pressure to just move fast and follow SALY). But again, 100% agree with everyone. If you go to a small firm you will get hands on action with everything and it will definitely boost your understanding by a lot.
Who is looking at anything properly with the short turnaround audits have
Next step should be working for a CPA. There you will be exposed to the entire financial accounting process as a bookkeeper. Bookkeeping is the foundation of accounting. Of course, that is only the beginning. Good luck!
Working at big 4, they already work for a CPA (they probably have their CPA). CPA does not equate to knowing when you’re doing when it comes to really any specific type of service line. Ex: A tax CPA would not know auditing, only enough audit information to have been able to pass an exam at one point in their life. I think you are intending to recommend them to work for a small accounting firm where they could gain experience, not necessarily in complex transactions and accounting, but rather more routine transactions/ bookkeeping and tax returns for business owners who really don’t know accounting. I agree understanding the transactions, the normal sign of account balances and how to research and record activity is key to success in CAS (and audit) in my experience. You are providing sound advice, I just wanted to clarify because, I know many very talented accountants without their CPA and many CPAs who are clueless in this area.
You can probably find this exact experience at a much smaller CPA firm! They work with smaller businesses and individuals. I’m sure they would be much more flexible than B4 and allow you that experience.
Some of the mid-market firms have outsourced accounting groups that would give you a lot of experience in this exact area. I think most internal accounting tends to get a little messy for private companies, so you can get similar pay to what you currently make while gaining the relevant experience to start your own practice
This is a helpful comment
Small firm for sure. I was at a local firm and they had a dedicated group that did all of that.
Dude
Join a small cpa firm
Work in industry (small business) or (more helpful) for a small firm
I started working at a little firm last October and being at big firms I had never done just Comps., Reviews, AUP, taxes, and etc. So I got to experience the variety of working on these with the smaller companies and the firm even did some of the companies basic bookkeeping. Maybe you should do that? I found out I didn't like it, plus the firm was extremely unprofessional internally, that's another story.
I just liked FS audit more. But now im doing internal auditing in tribal gaming. So there's that, lol, I like it too. So happy I found this position.