I am working in a small firm as an audit senior, responsible for preparing accounts (60%) and audit (40%). I’ve now been offered a job as a Big Four Assistant Manager. I understand that auditing under ISA is about identifying weakness in internal controls and its implications. However, during my 3 years experience I have never come across such a thing. We normally do substantive testing and follow Kestrian audit programmes. What's the best way to prepare myself before joining?
Firstly, congratulations on taking the initiative. In my years as a Big Four Resource Director, I recruited tonnes of candidates in exactly your position and I don’t recall this request coming up at interview or in the pre-joining period.
There’s no doubt that this will be a big transition for you. Moving jobs is always a major step, but transferring into the Big Four environment is likely to result, not just in a change to your role (technically and operationally) and in your environment (people and location), but will also expose you to a quite radically different culture.
The good news is that you won’t be the first who has made such a move, so your new firm is likely to have a good tailored induction or ‘conversion’ process for people like you. But there is plenty you can do (and should do) to help yourself.
Here’s a 2 stage approach to your preparation and transition:
First, brainstorm all the changes/challenges you are likely to encounter. Start with the obvious. Think about stuff that would apply if you were going for a new job in a similar firm. Then start to dig deep. Compare and contrast your old and your new roles. Here’s a checklist of a few potential differences to get you started:
- The new role. What is actually expected of an assistant manager here?
- Changes in levels of your autonomy, use of judgement, independence
- ISA auditing
- Firm-specific audit methodology
- IFRS knowledge
- Pure auditing, without the accounts prep
- Materiality
- New industry sectors, with their own regulations
- Culture and politics, including reporting lines
Next, look at all the possible solutions and resources you have at your disposal. Some of these may only be available once you have joined, but there is no harm in asking for them at the pre-joining stage. (They can always say no and you might earn some brownie points for keenness in the meantime!)
- Find out from the person who recruited you who your nominated contact is and then ask for some advice on preparation. There may be a pack or intranet resources they can share with you upfront
- Find a buddy and/or a mentor. Preferably someone who has made the same transition but at the very least someone is currently working in your new firm
- Do some workshadowing. It gives you the chance to see the job and experience the culture at first hand without the pressure of performance. Watch, observe and learn!
- Ask silly questions. Ask your buddy, your recruiter, HR………Ask. Ask. Ask. You can get away with virtually anything at this stage
- Use Human Resources. You might have a local HR contact but you will also have access to a massive national HR support system who will be waiting to help you at the end of the telephone
- Attend socials and join networks as soon as you possibly can – even pre-joining. You can specifically to be included in these
- Leverage you past experience. You may be able to share with the Resource Planning team, the type of jobs you have done before. If they can factor this into your planning then this puts you at a standing start
All this will stand you in good stead. But there is one other thing you can do which will really make a difference……Hone your mind set. Don’t approach this move as daunting, scary and fraught with problems. DO adopt a mind set that speaks exciting, stimulating and solution-orientated. Remember the Henry Ford quote ‘whether you think you can or you can’t you are usually right’. Expect success!
Good luck!
Q&A: finding your next audit role
http://carolmclachlan.typepad.com/accountantscoach/2008/04/qa-finding-next.html
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