BDO Unibank’s Post

30 stories from 30 years as a CA in 30 days From trainee to FD with a shot on a forklift Story 2 While working in EY’s Sydney office I was part of the Insurance Audit team which meant that I worked on the audits some of Australia’s largest financial services companies.  The first audit job that I was lead senior on was a group of investment trusts. At the end of the week on the job the partner was scheduled to visit the client to sign off the file and accounts.  Unfortunately the partner was running late and as it was a Friday afternoon suggested that I take the file into the office first thing Monday morning. I was keen to make a good impression and made sure the file was as good as I could make it.  On the Monday morning I took the file into the office and was quizzed on various parts of the audit specifically on a small immaterial investment in derivatives valued at around AUD$22,000.  I couldn’t understand why I was getting quizzed so much on this as we had already cleared the file and I was expecting everything just to be signed.  After half an hour of being grilled I made a flippant comment about PI Insurance – biggest mistake ever.  For the one and only time in my career I promptly and rightly got ripped a new one. Why the sudden change and no straight sign-off?  Well one I was being tested by the partner as it was the first time we had worked together. It was a way to see if I knew everything I needed to about the audit.  Secondly Barings Bank went bust that weekend partly due to Nick Leeson dabbling in the same securities that the trust had a position in.  The things I learnt that day: ⭐ You have to earn the right to be flippant by showing your capability first.  A comment that I would have got away with in Glasgow because I had proven myself didn’t land in Sydney because I hadn't ⭐ Be fully prepared to be quizzed on your work.  I have also used this technique to make sure the team know what they are doing and not just following a process ⭐ Be aware of events that might impact the businesses that you work with as they don’t operate in isolation. As an aside the partner that roasted me that day was vocal in getting me promoted the following year so I learned quickly 😁

How is being an accountant like being a super hero? It's summer time in the PNW, between busy seasons, and #SweeneyConrad knows how important it is to bond. Mixing interns with mid level and seasoned professionals, Audit, CAAS, and Tax on boats with the SC Women's Network, we chatted about art, pets, and how being an #accountant is like being a superhero. Having someone else managing your taxes, business books, and conversations with govt agencies takes the stress away so you can focus on what you do best. Concentrate on your business, let a professional handle the compliance. It's great to be a number superhero. #scpeoplefirst #futureCPAs #accounting #networking #LoveWhereYouWork #superheros

Behind the scenes at PASS Service Charge Accountants! From team briefings, speaking to clients and pouring over a new set of Service Charge Accounts, we love what we do! #PropertyManagement #FinancialExpertise #ServiceChargeAccounts #Tech0311 #NationalService #StrategicPartnership #ExcellenceinManagement #TPI #DayintheLife

Unlocking Insights through Diverse Audit Experiences - Embarking on audit assignments across diverse sectors—from real estate giants to dynamic energy firms—has been pivotal in shaping my professional journey. At Hero Realty Pvt. Ltd., Hero Corporate, Dayco Power Corporation, Serendipity Arts Foundation, Makino Autoworld Pvt. Ltd., and Hero Insurance and Broking Pvt. Ltd., each engagement was more than a routine check; it was an opportunity to decode the intricacies of financial operations. Navigating through complex financial landscapes, I honed my skills in MS Excel, costing, TDS reconciliation, and GST reconciliation. These experiences underscored the significance of meticulousness and adherence to best practices in financial auditing. From streamlining processes to identifying cost-saving opportunities, every audit fostered a deeper understanding of operational dynamics and financial integrity. These engagements have not only enriched my technical proficiency but also reinforced my commitment to delivering actionable insights that drive organizational success. I am eager to leverage these learnings, collaborate with forward-thinking professionals, and contribute to innovative solutions in the realm of financial management. #AuditExperience #FinancialManagement #CostingAnalysis #ExcelSkills #TDSReconciliation #GSTReconciliation #FinancialIntegrity #ProfessionalGrowth #ManagementAccounting #CareerDevelopment

I am thrilled to share that I have successfully passed the R01 (Financial Services, Regulation and Ethics) and R05 (Financial Protection) exams through the Chartered Insurance Institute! This achievement marks an important milestone in my journey towards a career in Financial Planning. I’m also excited to announce that I am now starting to study for the remaining exams, and I am committed to furthering my knowledge and expertise in this field. As I look forward to starting a new role in this dynamic sector, I am eager to connect with professionals and industry leaders in the Wealth Management space. If you are open to sharing insights, discussing opportunities, or simply catching up over a coffee, I would love to hear from you. Looking forward to connecting! #FinancialPlanning #ProfessionalDevelopment #CareerGrowth #FinancialServices #Networking #CII

Don't expect people to just open up and start telling you the things that are wrong. You have to ask. And you have to lead them to such revelations. And this is true for any stage of the #internalaudit process, anyone within internal audit, and clients at any level - CEO to clerk. (Note: True for the real world as well.) #audit #communication #problemsolving https://lnkd.in/grTHcz4w

Kickstart your CPA journey with the KyCPA Employer Guide! Discover organizations in Kentucky eager to connect with talented, motivated individuals ready to launch their professional careers. Plus, get essential info on applying for and taking the CPA Exam to help you stand out to potential employers. Download the guide today and take your first step toward becoming a CPA! bit.ly/2024EmployerGuide #CPAJourney #KentuckyCPA #CareerGrowth #CPAExam

Testimonial Tuesday!⭐⭐⭐⭐⭐ At HMB Accountants, we're committed to building long-term client relationships by adding extra value to our services. We're proud to say that we're all about 'Helping Businesses Live Long and Prosper!' 🌟 #Testimonial #TeessideAccountant #Review #HMBAccountants

Audit. Life is a journey. Characters. Benefits. Creativity. TACTIC. 🌟 From Austria to Singapore and finally to Switzerland. My journey with KPMG has been a roller coaster. Each day life brings its unique set of hurdles, but it's all part of the journey. Nothing can be perfect every day, can it, or does it have to be? At times, I feel we should sit back and accept, or try doing better. 💪 I have had the most amazing experiences and met some special characters inside KPMG but especially outside KPMG. I am curious about the world shaping my character getting some experience outside of KPMG. With each step I have taken thus far I have come out of my comfort zone, had to prove myself again, but earned the rewards move by move, year over year. While workload has been insane especially in my first year with KPMG Switzerland, I guess I was looking for the challenge. I found it. And it hit me. In hindsight, would I do it again? Probably. 💰 An amazing team of diverse people has made it an amazing journey. Surely the biggest benefit of my job. But, while it never seems enough, there are also multiple other benefits (obvious and sometimes hidden -at least to me-) at KPMG and especially KPMG Switzerland. Total compensation is more than fair and allows me to live a fantastic life. Recently, breaking my leg shed light on the importance of accident insurance. Without knowing, ended up getting the benefits of KPMG Switzerland providing employees with private insurance. A fantastic experience being treated by the best hospital and the best nurses and doctors. 🚀 Building my own company will be a hell of a ride. Connecting to creative people and characters every day is already worth it. Until I am ready to spill the beans on my future company, creativity and TACTIC will be key. Stay tuned 📩 Whoever you are, reach out to me if you are keen to share experiences, want to make a move from/to/within audit, or simply want to contribute to help make a difference in the way we hire/onboard/set objectives/drive performance, provide feedback, and feed forward! 🚀

Quiz answer: who is usually not exempt from an annual audit? Many thanks to everyone who voted. I agree with the majority again. Well done to everyone who has chosen the private company! ANSWER   A private company   A dormant company is exempt from audit unless it is an authorised insurance or banking company or a particular type of investment firm or it carries on insurance market activity.   A small company is exempt unless -      it is an authorised insurance or banking company or a particular type of investment firm or it carries on insurance market activity, or -      it is a public company, or -      it is a special register body.   A micro entity is a company smaller than a small company. So it qualifies as a small company for audit exemptions.   Private companies are not exempt from audit by law but since many of them are small companies or micro entities, it may seem that they generally are not being audited.   Also, even if a company is exempt from audit, the members may require the audit to be conducted if they wish. #accastudents #accalw #lwquizanswer