Hi, I’m Ruby Shih, Senior Auditor at National Audits Group. I’m often approached by colleagues and friends asking about my role as a senior auditor. There is a perception that the role of an auditor is dry and uninteresting. However, my job is anything but boring. I am directly involved in managing clients, staff, and workflow. Every day is different, and I thrive in an environment where I can grow and add value to my clients and my firm.
The Role of an Auditor
As an external auditor, my primary responsibility is to independently examine financial statements to ensure they are accurate and comply with relevant laws and regulations. Auditors play a crucial role in maintaining the integrity of financial reporting, which is essential for public trust in businesses and organisations.
My role involves reviewing financial records, assessing risk, identifying areas for improvement, and ensuring that clients meet compliance standards. In an industry where regulatory requirements are constantly evolving, the role of an auditor is both challenging and rewarding.
In my experience, I’ve seen firsthand how the demand for broader skills like data analytics, technology, AI, and strategic analysis is growing, making auditing an ever-changing and exciting profession.
What does my ‘average day’ look like?
Starting the Day: Reflecting on Workflow and Relationships
I like to start my day by checking emails and reviewing client responses. This is a moment for reflection—what went well yesterday, and what can be improved today? I often deal with multiple client queries simultaneously, each with different deadlines, which requires a high level of organisation and foresight. I also take this time to review how my client relationships are progressing. Maintaining strong relationships is vital to ensuring audit projects run smoothly. Communication with clients is critical; if they feel overwhelmed by our requests, it can cause delays, so I focus on being clear and approachable in every interaction.
Prioritising Workflow: Balancing Team and Tasks
Once I’ve checked my emails, the next task is prioritising the day’s workflow. I review the tasks for myself and my team. As a senior auditor, I’m responsible for my work and the development of junior auditors. I aim to expose them to various tasks, enabling them to grow in different areas. While some auditing can be templated, many situations are unique, and it’s essential for juniors to develop critical thinking skills. I distribute tasks based on their workloads, but I also must be flexible—there’s always the possibility that urgent issues will arise, either from the client or within the team.
Morning Team Huddle: Aligning and Supporting the Team
We begin our morning with a team huddle, an opportunity to align our daily priorities. Despite working on separate projects, we function as a cohesive unit, always ready to support each other. It’s also a chance for junior auditors to raise concerns or ask for guidance. Sometimes, team members may face challenges with a complex client or tight deadlines. It’s important to create an environment where team members feel comfortable sharing their struggles because, as an audit leader, it’s part of my job to ensure they’re supported.
Catching Up with Management: Ensuring Progress and Managing Expectations
After the team huddle, I usually have a brief catch-up with management to update them on the progress of ongoing cases. This conversation is essential for ensuring that we stay on track and that any high-level issues are addressed before they become problematic. Managing up is as important as managing down, especially when there are tight deadlines or complex client needs. Regular communication with management also helps align team efforts with broader organisational goals.
Client Work: Managing Expectations and Progress with Jobs
Late morning is usually the time for client follow-ups. Audits are often about gathering the correct information from the client, and delays can happen when the client is unsure of what we need. For new clients, in particular, the audit process can be overwhelming. I spend time answering their questions and guiding them through the requests. Sometimes, this means hopping on the phone or scheduling a quick meeting to clarify any issues. Clear communication builds trust and helps move the project forward efficiently.
Completing client work to firm expectations is, without a doubt, the most crucial part of my job. I oversee high-level tasks as a senior auditor, often involving more complex, strategic work. However, I’m also deeply involved in reviewing the progress made by junior auditors. Their work needs to meet our firm’s standards, and it’s my responsibility to ensure that everything stays on track. This balance between managing my workload and supporting junior auditors is critical to delivering high-quality results for our clients and maintaining their trust in us.
Handling Interruptions and Managing Team Well-Being
As with any profession, the day doesn’t always go as planned. There are frequent interruptions, whether from urgent client requests or issues raised by team members. Balancing these interruptions while staying focused on critical tasks requires strong time management. I also prioritise my team’s well-being, especially during high-stress periods. If I notice someone is overwhelmed, I might suggest taking a break or walking to clear their head. Mental health is essential in our profession, and we must support each other to maintain productivity and morale.
End of Day Review: Reflecting and Planning
I like to take stock of what’s been accomplished. I review the progress on each project, noting any challenges that have arisen and planning for the following day. Auditing is a profession that thrives on structure, but it also requires flexibility. Unexpected issues will occur and adapting while keeping the end goal in mind is key to success.
Summary – Key Issues in the Day of an Auditor
In reflecting on my role, I consider six key issues particularly important. Developing the skills to manage these issues takes time, but it makes the job of an auditor much more interesting:
1. Communication and Briefing: Clear communication is essential, not only with the audit team but also with clients. Establishing expectations early on and maintaining open lines of communication throughout the audit process is key to avoiding misunderstandings.
2. Data Collection and Analysis: Auditing involves a lot of data, and gathering and analysing this data is fundamental. We’re increasingly using data analytics to streamline this process, but it still requires a human eye to interpret the results and provide meaningful insights.
3. Handling Unexpected Issues: No matter how well-planned an audit is, unexpected issues will always arise. Whether it’s a missing document or a last-minute client request, staying flexible and calm under pressure is vital.
4. Client Interaction and Issue Resolution: Building strong client relationships is a big part of my job. When issues arise, I aim to resolve them quickly and professionally, ensuring the client feels supported and that the audit remains on track.
5. Time Management and Workflow Efficiency: With multiple audits in progress at any given time, managing my time and the team’s time is critical. I use various tools to keep track of deadlines and ensure that we stay on top of our work.
6. Collaborating with the Audit Team: Collaboration is at the heart of successful audits. Every team member plays an important role, and ensuring we work together smoothly is critical to meeting our goals.
Conclusion: The Rewarding Life of an Auditor
Despite the challenges, I find the role of an auditor incredibly rewarding. Every day is different, and the opportunity to work closely with both clients and team members keeps the job dynamic. A real sense of satisfaction comes with completing an audit and knowing that your work helps ensure the integrity of financial reporting. It’s not just about the numbers; it’s about problem-solving, relationship-building, and continual learning. Auditing offers a gratifying career for those who enjoy variety, intellectual challenge, and making a tangible difference in business.
Ruby Shih, Senior Auditor, National Audits Group | https://audits.com.au/
- A Day in the Life of an Auditor - 28 October 2024