Accountants face incompetent auditors
12 posts across 3 communities in the last 90 days; 75% from r/Accounting.
“lol. I worked at a place like this. Our audit was an absolute nightmare.”
“Don't write them a check yet. In over half of annual workers' comp audits, the billing statement contains computational or classification errors that inflate the bill by 20% to 40%. Before you accept their adjustment, check these two specific things on your worksheet: The…”
“Auditors shit talk everyone, that is really all they are good at, along with being exploited for four months out of the year.”
Multiple accountants complain about the quality of auditors sent to perform tasks, citing issues like inability to count and causing plumbing problems. There's a sense of frustration with the lack of competence.
SOURCES (15)
And if the data really matter that much, there should be an audit trail
“Don't write them a check yet. In over half of annual workers' comp audits, the billing statement contains computational or classification errors that inflate the bill by 20% to 40%. Before you accept their adjustment, check these two specific things on your worksheet: The Overtime Trap (NCCI Rule 1-E): Under official rating bureau rules in almost every state, the overtime premium 'half-time' portion must legally be excluded from your payroll basis. If an employee's regular ra”
“Don't write them a check yet. In over half of annual workers' comp audits, the billing statement contains computational or classification errors that inflate the bill by 20% to 40%. Before you accept their adjustment, check these two specific things on your worksheet: The Overtime Trap (NCCI Rule 1-E): Under official rating bureau rules in almost every state, the overtime premium 'half-time' portion must legally be excluded from your payroll basis. If an employee's regular ra”
“Auditors shit talk everyone, that is really all they are good at, along with being exploited for four months out of the year.”
“Kinda stinks that you don’t have much guidance but when in doubt SALY your way out. Audit is kinda like that you will have busy up and downs since you willl have multiple clients that refuse to give you any support and then everyone uploads stuff at the same time. I’m at a small firm who does audits of companies under 100m with a large portion of my client base being non profits. I work on 5 clients at one time on average since you are always waiting on items to come in”
“Terrible idea. Give the auditors clean and easy to understand data and I would probably fire the CPA.”
Ask more pointed questions then instead of “Y noomer go up tho?”
“I had to do chicken feed silos before. I had to watch them drop weighted measuring tape/rope on three different areas at the top of the silos and they punched the measurement into an excel formula to get the volume. They said the feed would slope and stick to the walls of the silos so they took the average of the three measurements. It was a crazy inventory count”
“I worked for an audit partner who would give the interns shit by asking for all kinds of supplies during fieldwork. Let me use your extension cord, need to borrow your stapler, let me see your tape. Learned to carry one of everything from the supply closet. Fortunately the firm provided large bags for us. I was in audit and he asked me for my master tax guide. The manager told him nobody has those lol.”
“Yeah you try to count to 10 while you're prairie dogging a jumbo burrito, give it a try pal.”