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Explore: Super Level Vacation Worker (Audit)
Brief description of the role
Key responsibilities and day to day tasks of the job
As I arrived during the execution stage of the audit, the sampling had already been completed, so my role was mainly to execute the testing work and follow up on any differences identified. My responsibilities included:
– Obtaining the samples selected by my seniors for the audit testing to be performed.
– Performing and documenting the substantive audit procedures completed.
– Following up on any differences or exceptions identified with the client.
– Discussing unresolved issues and findings with my seniors for further guidance.
– While waiting for the client to provide additional audit evidence, I had to be proactive and let the team know that I was available to assist with other work, as time is money and an idle resource can be costly on an audit engagement.
Enjoyed this the most
1. Because I worked with the trainees and the audits had already begun, I did not get to experience the pre-engagement and planning stages, nor the completion and evaluation stages, as I finished before those phases. However, I did get to experience the execution phase and apply the audit execution theory I had learnt in lectures to real-world situations. I especially enjoyed going to the client’s offices when issues arose during execution. It definitely helped me realise that corporate environments were not as scary as I had imagined them to be.
2. At the first company, which was in the pharmaceutical industry, I worked with one other vacation worker. At the second company, which was in the telecommunications industry, I worked with three other vacation workers. I thoroughly enjoyed this because we all came from different universities, so we were able to compare notes on our experiences and learn from one another. We built relationships and remained in contact for years after the vacation work programme.
3. The seniors were quite nice and open about their experiences. I gained insight into what doing articles would look like once I had completed my studies. They shared both the good and the bad aspects of the experience. Even though they were under pressure themselves, they were always open to answering questions from me and the other vacation workers.
4. On the last day of the programme, the manager took us out for a farewell lunch and gave us company-branded gifts. That was quite sentimental for me and made the experience feel appreciated and memorable.
5. Of course, I also enjoyed the payment. Including transport claims, I made about R10 000 during the programme, which was great pocket money to start the year with as a student. More importantly, I enjoyed finally seeing the concepts from my textbooks being applied in real life.
Overall, it was a very positive and worthwhile experience.
Biggest Challenge
My biggest challenge was getting to work every day, as I lived quite far from the office. However, I always managed to arrive on time and learned the importance of planning ahead and managing my time properly.
Another challenge I experienced was speaking up early when I did not understand something. Sometimes I would sit with an issue for longer than I should have because I wanted to figure it out on my own first. However, in audit, time is money, and I learnt that it is better to ask questions and raise issues earlier rather than struggle in silence for too long.
How this vacation work relates to your field of study
At the time of the vacation work, I was in my final year of my BCom Accounting (Chartered Accountancy) degree. One of my core modules was AUDITING, and since I completed my vacation work at one of the Big 4 audit firms, the experience related directly to my field of study.
The work I performed during the execution phase involved applying the theory I had learnt regarding substantive procedures during the audit process. I was able to see how concepts from lectures were applied in practice and how audit evidence is gathered and evaluated in real-life situations.
Because I joined the audit engagements midway through the process, I did not perform any risk assessment procedures or calculations of materiality myself. However, I was still able to observe how materiality influences audit decisions, such as which differences are followed up on with the client, which findings are communicated to the client, what gets included in the schedule of uncorrected misstatements, and the overall impact these differences may have on the audit.
The TAXATION work I performed was limited to confirming the correct VAT treatment on purchases and sales, so it was not very complex. There was also no CORPORATE FINANCE work involved. ACCOUNTING knowledge, however, was essential throughout the process, as understanding the correct accounting treatment was necessary for the substantive procedures to be completed successfully.
Skills acquired
– I learnt how to use audit software, specifically CaseWare, which was an important practical skill as most of my previous exposure had been theoretical.
– My communication skills improved, as I had to engage directly with clients when differences or issues were identified during the audit process.
– I also improved my Excel skills in a professional audit environment. Before this experience, I had mainly used Excel for my Information Systems course at university, so this gave me practical exposure to how it is used in the workplace.
School subjects / tertiary courses / required certificates
My high school subjects were Accounting, Business Studies, Economics, Mathematics, English, Life Orientation, and isiZulu (Home Language). I passed matric with admission to a Bachelor’s degree.
Kind of work environment (e.g Office based, remote, fieldwork etc)
I worked in the office every day, as this was before COVID and most firms were still fully office-based. Since then, some firms have moved to hybrid or fully remote working models.
We also worked from the clients’ premises. For the first two weeks of the programme, I was based at the pharmaceutical company’s offices, and for the last two weeks I worked at the telecommunications company’s offices. Most of the information provided by the client was in soft copy format, so being on-site made it easier to follow up on differences, ask questions directly, and resolve issues quickly.
Working in the office and at client sites also helped with team morale, as being around the team made it easier to collaborate and stay motivated, especially during busy or challenging periods.
Recommended industry resources to learn more about this career
There are a number of accounting professional bodies one can look into. These include the South African Institute of Chartered Accountants (SAICA), the Chartered Institute of Management Accountants (CIMA), the Association of Chartered Certified Accountants (ACCA), and the South African Institute of Professional Accountants (SAIPA), among others I may have forgotten. However, specifically for my degree and the vacation work I did, SAICA is the main regulatory body.
Are there any internships, work experience or volunteer opportunities that would help gain exerience in this field
Audit firms usually offer vacation work programmes during university holidays, typically in January and June/July. These programmes can range from one week to a month. The vacancies are usually advertised on the firms’ official websites or on platforms that list bursaries and graduate opportunities.
I would recommend setting reminders around October/November for the January intake, and again around April/May for the June/July intake, so that you do not miss the application periods.
Tips for gaining vacation work experience in this field
Audit firms usually have vacation work programmes during university holidays, mainly in January and June/July. The programmes can range from one week to a month. The vacancies are usually posted on the firms’ company websites or on websites that advertise bursaries and graduate opportunities. I would recommend setting reminders around October/November for the January intake, and again around April/May for the June/July intake, so that you do not miss the application periods.
You also do not have to limit yourself to audit firms only. Look into private companies as well, as many offer finance and accounting-related vacation work opportunities.
Lastly, if you do not get accepted the first time, apply again during the next intake period. I had previously applied and was unsuccessful, but I applied again later and was eventually accepted into the programme.