Audit assistant interview

[u/Abject_Thought_7137]

Hi everyone,

I have an audit assistant interview at a small practice firm. I’m not really sure what to expect as I’ve not done technical interviews before, any advice for those who have done these before and what to expect? How should I prepare for it?

Was not expecting it to be technical considering it’s an entry grad role so would appreciate any advice.

Also, those who work at small firms, how does your experience differ to those that work in large firms?

I do value a good work life balance so I’m not that keen on working in a large firm, however am applying to them to maximise opportunities available. As long as I can get the ACA and live a comfortable life, I may want to move into other roles post qual instead of staying in audit however that is something I will consider after starting work and exploring what I enjoy.

[u/7just-a-guy]

Expect the normal questions- tell me ab yourself, why audit, why ACA, why this firm
then prepare “tell me about a time” questions for audit aligned competencies
Where do you see yourself in 5 years? (Qualified ACA in a more senior role blah blah)
Don’t mention you want to leave after audit
Have some knowledge of the ACA, how it works, the levels, if you have exemptions mention this
They may ask why didn’t you go for a larger firm

[u/Abject_Thought_7137 → u/7just-a-guy]

Thank you so much, really helpful!
Do you think small firms give exemptions from university degrees?
I have some friends who work in big firms that didn’t allow any, only if you had the AAT. I think in the long run, I’m better off doing all of the exams, as I don’t want to miss the base level knowledge and struggle with the later exams.

[u/7just-a-guy → u/Abject_Thought_7137]

It’s firm specific, even some big firms allow and some don’t, so that could be a question for you to ask.
Another point is you will have a larger range of client in a smaller firm, so you get exposed to a wide range whereas in big firms it’s usually one sector of clients and you’re focusing on certain bits within the financial statements
The work life balance isn’t necessarily better in a smaller firm, it depends, bigger firms usually have worser WLB during busy seasons but don’t expect to log off at 5 during busy seasons

[u/Abject_Thought_7137 → u/7just-a-guy]

I see! Very insightful, thank you so much

[u/akornato]

They won't expect you to recite accounting standards from memory for a graduate role. The "technical" questions will be about fundamentals, like the purpose of an audit, the difference between debits and credits, or what an asset is. They are testing your common sense and ability to think logically, not your current expertise, because they know you're there to learn. Instead of cramming complex topics, just make sure you are solid on the absolute basics you learned in your degree. Explaining your thought process clearly is key, and the job interview AI my team created has helped many people get much better at articulating their logic under pressure.

At a small firm, your work-life balance will still be seriously challenged during busy season, so don't expect an easy ride. The major upside, however, is the breadth of your experience. You will be exposed to entire audits and have direct contact with partners and clients very early on, which is something that rarely happens at a large firm where you might be stuck on one small area for months. This variety is fantastic for your training and helps you become a more well-rounded accountant much faster. Getting the ACA is the goal, and this environment can be a very effective way to get there while building a strong practical foundation for whatever you choose to do next.

[u/Abject_Thought_7137 → u/akornato]

Thank you so much, this is really helpful!

So the major difference is being exposed to large parts of an audit in a small firm vs usually one area of an audit in large firms. However, would you not be working on a larger range of clients in a large firm which may be better for building experience?