From the KPMG website…
As a first-year trainee, much of your time will be spent talking to different management functions of the organisation being audited. You will often be liaising with key client staff in order to assess and report on business processes and accounting procedures. Typical tasks could include:
* Confirming that the organisation’s record of its cash balances agrees with the bank’s record
* Checking that the organisation owns the fixed assets (such as buildings, machinery, computers and cars) that it includes in its accounts
* Making sure that the organisation’s employees really exist
* Helping to ensure that the list of the organisation’s suppliers is complete
* Attending a stock-take to observe the organisation’s methods of recording stock
* Test-counting a sample of the company’s stock items
* Recording and testing the organisation’s processes and controls.
These activities culminate in the delivery of the final audit report. At this stage, you will be involved in helping to prepare the final accounts and suggesting any amendments. You will also prepare a report that summarises the key issues that have come to light during the audit, and recommends potential improvements to the client’s systems, business processes and controls.