The FRC announced an Audit reform including the operational separation of the Big 4, but what does this mean?
Training the next generation of Audit Professionals
16 December 2020
‘Back in the day’, the role of an audit junior involved a lot of tedious tasks – photocopying, ticking things with different colour pens and making cups of tea (and lots of them)…. thankfully, the world’s moved on since then, and so have we.
With innovation and the pace of change at an all-time high and digitisation influencing the future of the audit profession, the opportunities have never been greater in helping promote growth and prosperity in the economy through our next generation.
We’re committed to training the auditors and business advisors of the future, and have successfully run our Apprenticeship Programme for a number of years. Whilst the technical and professional training hasn’t changed significantly during this time, the role and skillset of today’s ‘Gen Z’ workforce is very different, and we’ve adapted our apprenticeship training programme to ensure it’s inclusive for all, and most definitely not just about doing the ‘donkey work’!
Auditors of the future won’t only need to demonstrate they have the key technical knowledge and skills to complete the role, but also possess the interpersonal and communication skills to be courageous and challenge thinking, using confidence and personal insight to hold valuable conversations with clients.
It’s why we’re training our team to allow for the evolution of the role to become more of a ‘business advisor’, looking beyond the data and numbers, being able to interpret, explain and advise on strategies as we collaborate with businesses on forward-thinking strategies.
At the heart of this is spending time with you as a business owner, and getting to know your business. Some of the best experiences are gained when working alongside our clients, and that applies right from the start of our apprentices’ careers, so they’re always encouraged to get involved in conversations with clients.
Of course, the other key change over recent years is the application of automation and technology solutions to enhance the audit process. ‘Gen Z’ are far more adaptive to new technologies and streamlined ways of working (in fact, most of them have never seen an old red cashbook). All of this aids efficiencies and enables the team to have a greater focus on the risk areas of the audit and make the process more valuable for you and your business.
Current apprentices will become the business leaders of the future, and it’s why we all play a role in mentoring and supporting them to be the best they can be, for you, and for us. So, if you’re not already doing so, do your bit, and take a chance on the younger generation – this will help us to foster their curiosity and set them on their way to a successful future.