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Become An Audit Internship

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Working As An Audit Internship

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Communicating with Supervisors, Peers, or Subordinates
  • Updating and Using Relevant Knowledge
  • Analyzing Data or Information
  • Deal with People

  • Mostly Sitting

  • $65,000

    Average Salary

What Does An Audit Internship Do At U.S. Bank

* Work with experienced members of the engagement team in successfully conducting assigned audits from beginning to end
* Assist in planning audit engagements to include interviewing auditees, identifying and analyzing business processes and identifying key risks and controls
* Evaluate the design and test the operating effectiveness of controls using appropriate sampling and control testing techniques
* Obtain and review evidence that helps ensure audit conclusions are sound and are documented in such a manner that facilitates review and meets the department policies
* Draft potential audit issues under the supervision of a more experienced team member
* Ensure adherence to all applicable Corporate Audit Services and Institute of Internal Auditors Standards and Codes of Ethics
* Learn from and apply coaching received
* Perform other related duties as requested
* Explore your career possibilities at U
* S. Bank and join a company that’s as passionate as you are about helping our customers meet their goals and making a difference in the communities we live and work.
* Our industry-leading financial performance, innovative spirit and best-in-class reputation empower employees to succeed.
* U.S.
* Bank is an equal opportunity employer committed to creating a diverse workforce.
* We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.
* Explore What's Possible With a Career at U
* S. Bank!_
*

What Does An Audit Internship Do At Protective Life Insurance

* Surveys functions and activities in assigned areas to determine the nature of operations and adequacy of the system of control to achieve established objectives.
* Carries out validation/testing of Company’s internal control environment to assist in complying with Sarbanes Oxley 404 and NAIC’s Annual Financial Reporting Model Audit Rule
* Plans and executes complete reviews of moderately sized audit assignments, or conducts reviews of portions of extensive audit assignments.
* Recommends and assists in determining the direction of proposed audit effort.
* Obtains, analyzes, and appraises evidentiary data as a basis for an informal objective opinion on the adequacy and effectiveness of the system of activities being reviewed.
* For moderately sized audits, makes oral or written presentations to management at the conclusion of examinations.
* Follows up on audit including confirmations and adequacy of management’s reply.
* Performs other duties assigned.
* Pursuit of Bachelor’s degree or Master’s degree with concentration in accounting, finance, or business administration.
* Completion of Internal Auditing class is desirable.
* Insurance industry experience is desirable, but not

What Does An Audit Internship Do At Davita

* The following duties and responsibilities generally reflect the expectations of this position but are not intended to be all-inclusive.
* Support SOX documentation projects as assigned to include ad hoc and recurring detail testing, process narrative updates and/or special projects to be determined
* Perform daily/weekly/monthly/quarterly audits of transactions objectively and productively according to department policies and procedures
* Coordinate and communicate with other SOX teammates in order to ensure the standardization of testing and reporting
* Communicate findings of daily/weekly/monthly/quarterly audits to the SOX team, identifying trends, issues, and education opportunities
* Plan, schedule, and facilitate meetings and teambuilding activities as necessary
* Respond to customer requests and attend customer meetings in a timely manner
* Identify opportunities to improve SOX testing methodologies and processes
* Report workplace injuries to a member of the management team or People Services immediately

What Does An Audit Internship Do At Grant Thornton LLP

* Reviewing and auditing business transaction cycles including cash, treasury, capital expenditures, and other income and expenses
* Researching audit issues, utilizing electronic data bases, and review-tracking financial information utilizing audit related software
* Identifying, assessing, and informing senior staff members of audit related issues
* Collaboratively working with client team members while building rapport and strong client relationships
* Working closely with staff, managers, and partners on all phases of the project
* Bachelor’s or Master’s degree in Accounting
* Major and overall minimum GPA of 3
* The willingness and ability to work additional hours, as needed, and travel to various client sites

What Does An Audit Internship Do At Legrand North America

* As an Audit Intern you will be responsible for the following:
* Assisting the Internal Control Manager during the documentation and testing phases of the annual Sarbanes Oxley compliance initiative.
* Prepare control process walk-throughs, make sample selections for control testing, complete control tests, and create and implement control remediation plans.
* Testing will be conducted based upon pre-determined test plans developed by the Manager.
* Testing will cover processes such as fixed assets, sales, purchasing and inventory under the guidance of the IC Manager.
* Performing audits of travel and entertainment expenses of management to ensure they are in compliance with Company policy.
* PHYSICAL AND MENTAL DEMANDS : **_The physical and mental demands described here are representative of those that must be met by employees to successfully perform the essential functions of this job.
* Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions._
* Mental Demands

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How To Become An Audit Internship

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Audit Internship jobs

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Top Skills for An Audit Internship

AuditProceduresInternalControlAssetsAuditReportsPayrollIncomeStatementBalanceSheetIndividualTaxReturnsGeneralLedgerJournalEntriesBankReconciliationsTrialBalanceBankConfirmationLettersAnalyticalProceduresFinancialStatementReportsGaapAccountBalancesAnnualAuditBankStatementsFinancialInformation

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Top Audit Internship Skills

  1. Audit Procedures
  2. Internal Control
  3. Assets
You can check out examples of real life uses of top skills on resumes here:
  • Completed general audit procedures in support of financial statement audits.
  • Reviewed client accounting and operating procedures and systems of internal control.
  • Performed prepaid expense and account payable audits for a public company with assets of $900K.
  • Discussed with client concerning activities that are not in compliance with auditing standards and regulations and proof read audit reports.
  • Confirm the computation of exemptions, deductions, and benefits applicable to payroll accounts.

Top Audit Internship Employers