Congrats QC alums! 2006 alum here.
1st year auditor assignments – some administrative, some auditing:
Administrative:
-order lunch/dinner
-rollforward workpapers and leadsheets (basically changing the dates on Excel spreadsheets, and making sure that the indexing and names matches correctly)
-rollforward confirmations for A/P, A/R, bank balances (changing the dates on Word doc letters and making sure the names/addresses)
-updating status confirmation and status reports (when did you mail things out, when did you last speak to someone, when did someone get back to you)
-making copies (of permanent files, invoices, contracts, agreements, etc)
Auditing:
-checking last year's ending trial balances against this year's starting trial balances
-if you have manufacturing/retail clients, lots of inventory counts (go to a warehouse and physically count stuff)
-Footing a lot (making sure something adds up correctly, can be from any source, a lot is financial statements)
-some substantive testing: yup, vouching and tracing A/P & A/R samples (just checking if the #s match up between invoices/contracts/agreements with entered data)
-control testing: looking at bank signatories, matching signature cards to signed checks, see who has access to authorize electronic bank payments
-analytical review – some but very little – comparing last year's and this year's revenues and expenses, and looking for large deviations
And if you don't know something, go ask your senior or manager or someone who's worked even a day longer than you. I hope they are all nice and aren't on power trips. I've been an auditor too, and I'm currently on the other side – let's just say that when I catch auditor mistakes (which have been quite numerous lately), I pin it on the manager and/or partner for poor training, supervision, and oversight.
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