An audit intern assists licensed or certified auditors, learning basic auditing tasks like examining controls. They identify records, controls, or activities that need investigation and testing, interact with clients, and help write formal audit reports. They also help establish a realistic audit schedule and file related documentation.
An audit intern acts as an assistant to licensed or certified auditors or higher-level interns, learning to perform basic auditing tasks, such as examining controls. With some exceptions, such as offering formal audit results, the intern performs exactly the same work as a regular auditor. He just can’t do it without supervision.
One of the basic skills an apprentice auditor learns is to identify the records, controls or activities that need investigation and testing based on the scope of the audit. For example, a tax auditor trainee can learn specific tax forms to ask clients for. This is critical to the audit process as it provides much of the information the auditor uses for analysis and recommendations. As the intern learns which records and activities are relevant, he also learns how to organize the acquired data for review.
Sometimes the only way to really understand how a company is working is to go out there and observe. In these cases, the trainee auditor travels with a higher level auditor to the company. The top-level auditor explains how the trainee should observe and what to look for in the company’s operations. The trainee can make notes of what he sees and how it can contribute to the success or failure of the company’s objectives.
A large part of any audit involves interacting with the customer. For example, auditors attend a preliminary meeting with a client to clarify the scope of the audit, how and when the audit will be performed, and what resources will be available. Likewise, during the data collection process, auditors sometimes need to interview certain people to verify information, test controls or provide clarification. An auditor trainee accompanies the auditor to these meetings and interviews, participating in auditor orientation and, if possible, answering questions.
Top-level auditors show trainees how to analyze all the information they collect. Having clear audit objectives helps the trainee understand what data may be relevant and what is not particularly useful. Interns also hone their objectivity skills, refining their analyzes to be free of personal opinions and focus solely on the data.
A basic part of any audit is the preparation of a formal audit report. This document contains the audit conclusions and the auditor’s suggestions; the auditor presents it and formally discusses it with the client. The format is predictable, but the report should be clear and concise. Audit interns help auditors write these reports, providing tips for grammar and content. Reviewing previous audit documentation helps the trainee understand what a good report should say and the tone it should have.
All auditors have a responsibility to complete an audit in a timely manner. Thus, audit interns help senior auditors establish a realistic audit schedule with the client. They may send courtesy mail or make quick phone calls to remind the client to address audit events, needs or deadlines. At the end of the audit, the trainee can compose and send final correspondence, set up follow-up audits or file all related documentation, including the client’s response to the audit report.
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