Is your new-hire training as good as it should be? Are you properly preparing your recent new hires to be successful in the bright lights of public accounting? Likely, your new hire training approach is simply pairing that new hire up with a more senior employee who will show them how you do things at your firm.
New-hire training: old school
Granted, most senior accountants have the best intentions when it comes to grooming new staff. However, their own workload typically limits their available time. Does that have a negative effect on the new hire training? Put simply, yes. Why is that? Put simply, the new-hire tends to get only three things out of this training approach.
- A quick walkthrough of the different software the firm uses.
- A verbal instruction to look at last year’s audit binder.
- When there are questions, told to ask questions along the way.
Granted, prior year work is a great starting point for an upcoming audit. Regardless, though, the new-hire needs to understand about the auditing process first. Success will be slow to come if the only expectation is to recreate substantive procedures performed during the prior year audit.
Old school vs School of Audit
So, what is the answer to this dilemma? A proven alternative is Wolters Kluwer’s Academy School of Audit. By design, the New-Hire Program prepares recent hires to be immediate contributors in the audit process. That is a definite differentiator for a firm in today’s fast-paced public accounting environment.
Due to the unique course structure the School of Audit provides, its New-Hire Program offers so much more than your senior accountants would every have time to deliver. This new-hire training is a case study based program that runs 4-days. Furthermore, all attendees leave well prepared in the following areas:
- Professional expectations – not only what is expected in the public accounting industry, but also what is expected of entry-level staff
- Understanding the engagement process – including the necessity of planning, best practices of fieldwork, and efficiently wrapping up an engagement
- Industry terminology, workpaper preparation, and documentation skills
- Low-risk audit area case study work – including cash, fixed assets, accounts payables, inventory observation and more
- Discussions on audit methodology and the risk assessment requirements
- CCH ProSystem fx Engagement and CCH ProSystem fx Knowledge Coach training and tips, along with an introduction to audit data analytics using the TeamMate Analytics solution
Are you interested in ensuring your new-hires are successful as quickly as possible? Then your SALY (same as last year) new hire training might need a good shake up! Take action now. Send your new-hires to The Academy School of Audit where they will assuredly build a solid foundation. Check it out.