[vannan]

I’ve been offered an interview at an audit firm specializing in the financial industry, mostly mutual fund and EFT. How does this field differ from general audit, what standard or rule apply specifically to this field?

[MustPass1988]

I was in the financial industry group when I was in public accounting and loved it. I love that there is a lot going on in this industry due to the recent economic issues, it makes it really interesting. In my experience, the financial audits are a lot more “professional” as in, you will probably be required to wear a suit. I was on a couple construction audits and those two groups were polar opposites 🙂

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[vannan]

MustPass1988

Thank for the reply, could you give me more info about the daily work. I'm hoping to bring this knowledge to the interview. Any auditing standard from AICPA or PCAOB on this issue would be great.

About mutual fund, I've been told that the daily account balances is just as important as the year end number b/c mutual issues a NAV that is used to buy/redeem shares everyday.

I'm actually quite clueless about how to audit a mutual fund. Best I can come up with is that they test trade and valuation of the mutual fund at day end. It's one of those field with very little public research and information.

[Shart Happens]

Vannan- Do you happen to live in Ohio? I recently had an on campus interview with a company specializing in MF's/ETF's and wondering if it's the same company.

[Author]

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