Part of any audit is attendance at the client’s inventory count. If the company being audited has material inventory in multiple locations, you’ll have to observe each count. I’ve been busy lately with inventory counts. Yesterday I went to one and counted washing machines and dryers. This morning I was counting packages of cottage cheese,Continue reading “Attending inventory counts”
Category Archives: Auditing
Chuck Norris audit jokes
Sometimes when you search Technorati blog posts for the term “auditor” you get some interesting results. Highlights from a post on a MySpace blog by a guy who worked on the Enron audit with Arthur Andersen simply titled “Chuck Norris – Auditor“: Chuck Norris does not accrue for expenses. He accrues for pain. Chuck NorrisContinue reading “Chuck Norris audit jokes”
Engagement letter update
Before accountants can get down to the business of providing service to clients, we have to issue what’s known in the biz as an “engagement letter.” Contrary to what I’d initially thought, this doesn’t tie me down to any one person for the rest of my life, for better or worse, in good times andContinue reading “Engagement letter update”
Clients are the best part of my job
Yesterday I posted about an article in BusinessWeek featuring an interesting interview with the head of campus recruiting for KPMG. I talked about their international exchange program. Today I’m going to talk about clients. From the article: We also tell them if you’re in audit, we go out to the client. So they’re going toContinue reading “Clients are the best part of my job”
What Enron meant to me
Enron burst into flames around January 2002. I was just starting my second semester at Brock University in the esteemed Bachelor of Accounting program when the Houston-based company went down. What did this mean to a 19-year-old Canadian accounting student with no share holdings and no knowledge of the energy trading giant from Texas? Actually,Continue reading “What Enron meant to me”