8:45 a.m. You arrive at the office ready to embark on the first day at a new client. You meet up with the engagement Partner, Manager, Senior Accountant, and Staff Accountant for a quick meeting before heading out to the client premises. You are excited about the opportunity to work on such an interesting client with a few of the employees you met last week at your audit group’s social event.
9:00 a.m. The team decides to grab a quick coffee on the walk over and discuss some of the more minute details of the engagement that weren’t on the agenda at the earlier meeting. You learn that you’ll get to work on some unique aspects of the engagement; specifically, helping out at the inventory count at the company’s mining site in the North West Territories.
9:30 a.m. You arrive at the client premises and are greeted by the CFO and the Controller. They show you their state of the art boardroom you will be working out of for the next several weeks. They begin discussing some of the significant changes to their business as well as update the team on the appropriate points of contact for the different sections of your engagement. They also provide your team with the latest copy of their company’s financial statements. Your Senior In-Charge asks you to prepare an initial year over year comparative analysis.
11:00 a.m. You just finished helping the Staff accountant setup the audit room with the latest KPMG technology and have just learned from your Senior In-Charge Accountant that you will be meeting the Director of Human Resources at your client to begin your audit procedures on the company’s payroll process. It’s time for you to start preparing by selecting your sample of employee payroll transactions for testing.
12:00 p.m. The Audit Partner shows up at the client premises just after twelve to prepare for a meeting with the client that takes place later in the afternoon. She decides to take the whole team out for lunch, as she knows a great little Italian place just around the corner. The lunch is a great opportunity to get to know your group’s leadership and you enjoy hearing about some of the Partner’s interesting audit experiences throughout their career.
2:30 p.m. You arrive back in the audit room with plenty of information and procedures to document after meeting the Director of Human Resources. You begin your work upon your return to the room when you receive an e-mail from some of your fellow co-ops who are planning on signing up for KPMG Volunteer Day together. You decide as a group that you’ll help out at the local food bank for the day. This is a great opportunity to give back to the community as well as spend time with some of your peers.
5:30 p.m. The day has almost come to an end. You are just finishing discussing the progress of your work with one of your colleagues when you remember that you have an Audit and Assurance update session to attend tomorrow morning. You let your senior know that you won’t be back out at the client offices until the afternoon only to learn that he is going to the same training session. Looks like you have someone to sit with!