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CIA Certified Internal Auditor

DiCapricornDiCapricorn PEx Rookie ⭐
edited March 25 in Pinoy Careers
Hello everyone,

After a year of working in different private company, I realized that there's something missing in my life as a CPA. I realized that I need to be in Audit. Yes, every time I saw an Auditor coming in our office, I feel too envy to them. They look so professional. Their attire, the way they walk and the way they talk. If I could only turn back time, I will surely start my career as a CPA in Public Practice.

I feel my life was wasted. I attended an exam and interview a couple of day ago. Well, damn it. I almost forgot the basic accounting and Auditing. I was surprised by the exam. I've passed the CPA Board exam without fear of failing. But this time, I feel so ashamed to myself. What the H3ll happened to my career? What I have done wrong?

Well life must go on. I know what I want and where I supposed to be. Guys, let me know when is the hiring season of Big auditing firms and also the other firms. Specially in Isla Lipana, P&A, Delloite, KPMG, SGV and the new auditing firm, Reyes, Tacandong CPAs.
Kindly give me some tips aside from being myself in the interviews and exam.

Thanks and God Bless!
Leonardo Di Capricorn, CPA
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Comments

  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    Hello Dicapricorn,

    I am an accounting Manager of a private company in Pasay. I started my career as external auditor in a small accounting firm in Makati. Unlike SGV and other big auditing firms, I was exposed in all phases of auditing from the review of clients' supporting papers, preparation of working papers, proposed adjusting entries and audited financial statements. I thought I already escaped my life as an external auditor. I became an internal auditor in a private company after I resigned from external auditing which also gave me the avenue to be a chief accountant.

    I also missed doing my external auditing and taxation. What I did, I look for my personal audit clients and do my external auditing during my free time especially on weekends. I am satisfied with my career as an accounting manager and external auditor as well. Hawak ko pa ang oras ko sa mga clients ko.

    I hope my advice helps.

    Ynang Reyna, CPA, MBA
  • abbey89abbey89 PEx Rookie ⭐
    Hello Dicapricorn,

    I am an accounting Manager of a private company in Pasay. I started my career as external auditor in a small accounting firm in Makati. Unlike SGV and other big auditing firms, I was exposed in all phases of auditing from the review of clients' supporting papers, preparation of working papers, proposed adjusting entries and audited financial statements. I thought I already escaped my life as an external auditor. I became an internal auditor in a private company after I resigned from external auditing which also gave me the avenue to be a chief accountant.

    I also missed doing my external auditing and taxation. What I did, I look for my personal audit clients and do my external auditing during my free time especially on weekends. I am satisfied with my career as an accounting manager and external auditor as well. Hawak ko pa ang oras ko sa mga clients ko.

    I hope my advice helps.

    Ynang Reyna, CPA, MBA
    Reply With Quote

    i think, I'm taking the same footsteps :)
    I'm still in the external audit as an audit staff.
    I do have a personal client as well and hoping to have some more in the near future.
    Currently pursuing MBA and hoping to be a manager or to be in the academe soon.

    If you really want to go to external audit, as far as I know, hiring season will start by mid-October right after the release of results of the CPA board exam. Hope you'll land a job before the year ends.
    God bless you!
  • gusto ko rin magMBA. hehe.
  • DiCapricornDiCapricorn PEx Rookie ⭐
    Salamat Ynang Reyna. Ikaw na! Haha. Thanks for the advise. Well, I'm very obsessed to be an External Auditor. The only problem is what firm? In terms of Size, Clients Handled, Experience, Personal and Professional Growth, and career wise.
    Please help me. THanks
  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    DiCapricorn, thank you for the compliment. Salary of an external auditor is not that much. If you will find your own clients, you can name your price and compete with other external accountants. Napakaraming maliit na businesses sa Pinas na hindi nag hi hire ng services ng malalaking auditing firms because of budget constraints. I have 25 clients that includes corporation and single propreitors. Marami pang dumadating kasi mababa akong sumingil ng professional fee ko. Unlike nung nasa auditing firm pa ako, oo nga pupunta kami sa clients na naka long sleeve and tie, slacks, pero ang liit naman ng suweldo namin at nag la lunch lang kami sa jolly jeep sa makati.
    Nung humawak na ako ng personal clients, I only go to my clients from time to time para pag dating ng year end, hindi na ganun karami ang i a audit ko. Start ng pag prepare ng audited financial statements ko is January ( normally yung mga madadaling gawan like doctors and single propreitors) and will last up to first week of April. Sa bahay ko ginagawa ang working papers and financial statements.

    Good Luck
  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    Totoy CPA, let me just share you my humble story. When I was in third year college in UST, my professor in Intermediate / Financial Accounting wrote her name on the chalk board.

    ANNABELLA B. MORAN, CPA, MBA

    I was mesmerized with her title. She was only 27 then when she became my professor. She always tell us then not to be contented with CPA title alone. Pero nasa isipan namin that time na ang hirap hirap ng pumasa sa CPA, mag MBA pa kaya. During our time, the passing rate in CPA board exam is only 11% to 12%. Fortunately, I passed. Her title really amazed me and I said to myself that one day, I will be like her.

    After two years of working and saving money for my MBA, I took the exam and enrolled at the Ateneo Graduate School of Business where I met Mr. Eugene T. Mateo, who I think is the present Chair of Board of Accountancy. On the first day of our Controllership class, he asked who amongst us are accountant and I was one of the students who proudly raised hands. Tapos biglang bumanat sa amin

    " Ano naman ang feeling ninyong mga accountants? magagaling kayo? Kung magagaling kayo bakit kayo nandito sa graduate school? Para sabihin ko sa inyo, scorer lang kayo ng company. Maski CPA kayo, anong ginagawa ninyo? taga record, taga check ng reports? You guys are not in the real battle. It is a good decision that you enrolled and will soon finish your MBA."

    After two meeting, umalis na siya kasi na appoint na siyang maging chairman of board of accountancy.

    Mas madali ang work ng isang accountant kapag may MBA because it widens your horizon that you would be able to see the whole topography of business.
  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    In addition to my story with Ms. Moran, we saw each other in Glorietta and I told her how amazed I was when I saw her title which I also have now. Gulat lang ako kasi natatandaan pa niya ang name ko after so many years.
  • DiCapricornDiCapricorn PEx Rookie ⭐
    Thank you Ynang Reyna. Ikaw na talaga! haha
    I've got an invitation for the exam at SGV for tomorrow. I've been there before. The exam is more like an IQ test. The English test is very difficult for me that time. Well good luck to me.
    I want to have my own firm too, but not this time, it will be in the future.
  • Hello everyone,

    After a year of working in different private company, I realized that there's something missing in my life as a CPA. I realized that I need to be in Audit. Yes, every time I saw an Auditor coming in our office, I feel too envy to them. They look so professional. Their attire, the way they walk and the way they talk. If I could only turn back time, I will surely start my career as a CPA in Public Practice.

    I feel my life was wasted. I attended an exam and interview a couple of day ago. Well, damn it. I almost forgot the basic accounting and Auditing. I was surprised by the exam. I've passed the CPA Board exam without fear of failing. But this time, I feel so ashamed to myself. What the H3ll happened to my career? What I have done wrong?

    Well life must go on. I know what I want and where I supposed to be. Guys, let me know when is the hiring season of Big auditing firms and also the other firms. Specially in Isla Lipana, P&A, Delloite, KPMG, SGV and the new auditing firm, Reyes, Tacandong CPAs.
    Kindly give me some tips aside from being myself in the interviews and exam.

    Thanks and God Bless!
    Leonardo Di Capricorn, CPA

    Well I agree with you, being an internal auditor is kinda degrading to board passer like as except if we already have an experience in an external auditing firm. I worked also in a private company, during my 1st week in the company as an audit staff I found out that I can't utilize all the knowledge that I acquired during college and the cpa review. I'm so disappointed that time that's why I wanted to get out of the company as soon as possible and look for an auditing firm, but I can't just do that because it was my 1st job and I really need to get some experience so what I did was I finished my 5 months contract for the same reason you were telling. There's a big difference being between the 2 kinds of practice of our profession. In internal Auditing we're allowed to audit some of the accounts unlike in external all or most of the accounts are being check by the auditor. If i only knew that being an internal auditor is a waste of time I've probably looked for an external auditing firm that time. Now that I'm free again to look for another job ill try to be come an external auditor but my biggest problem is, I already forgotten some of my knowledge in accounting and taxation . I bet that I would probably failed the job examination. Actually I feel sorry for my self that I've made a wrong decision 5 months ago if I only knew that this will be the price of it I shouldn't have accepted that job

    Best of luck for both of us. Currently I'm reviewing all my notes to recover all the knowledge that I forgot. Then when I'm ready i'll apply to an audit firm.
  • sorry po if some of my words and grammar in my recent post are incorrect.

    someone pls help me naman po I really need some info about s mga audit firm n pedeng maaplyan.. thnx...
  • Na-inspire ako sa kwento ni ynang_reyna. Kudos!

    Kapapasa ko lang din sa CPA board last May. Uhm, sa government ako nagtratrabaho ngayon pero mas gusto ko sa external audit. Iba kasi ang feeling 'pag nandun. Madami daw matututunan at magagamit lahat ang napag-aralan.

    Habang andito sa government, nag-enroll ako para sa CAT program ng NIAT. Di naman sa habol ko ang mga titles na mailalagay sa dulo ng pangalan ko. Gusto ko lang talagang mag-aral ulit. :)
  • abbey89abbey89 PEx Rookie ⭐
    Nakakainspire naman po *** story niu, Ynang Reyna. :)
    We're just starting with our careers and hope to have a great career path as well.

    Correction ko lang, bookkeeper pala ko as sideline. Sana makapirma din ako ng FS in the near future. hehe
  • yes nagaagree ko kay maryann hehe waste of time talaga kapag internal auditor hehe, buti na lang i was able to get out *** pinasukan ko lately ayun i think God made a way ayun hehe nagkasakit ako for days and di ko nakapasok ayun na lang dinahilan ko, hehehe :)
  • DiCapricornDiCapricorn PEx Rookie ⭐
    @mari_an28
    Hello there.

    At least you've got an experience in the field of auditing even though it is an internal audit, but still it is an audit. Besides, you only spend 5 months. Me, I experiencing difficulty in remembering the standards, but those are still in my veins. Good luck to our career.

    I hope I will pass the next interview, now it is the partner will be my interviewer. I don't have experience on this. Can somebody give me insights on how the throw questions? Thanks in advance.
  • @mari_an28
    Hello there.

    At least you've got an experience in the field of auditing even though it is an internal audit, but still it is an audit. Besides, you only spend 5 months. Me, I experiencing difficulty in remembering the standards, but those are still in my veins. Good luck to our career.

    I hope I will pass the next interview, now it is the partner will be my interviewer. I don't have experience on this. Can somebody give me insights on how the throw questions? Thanks in advance.

    Share mo naman po dito, if you won't mind, yung hiring process sa SGV, kwento mo lang. Tska kung anong nangyare sa interview mo. hehe. Salamat po. :)
  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    abbey89 wrote: »
    Nakakainspire naman po *** story niu, Ynang Reyna. :)
    We're just starting with our careers and hope to have a great career path as well.

    Correction ko lang, bookkeeper pala ko as sideline. Sana makapirma din ako ng FS in the near future. hehe

    Thank you abbey for the compliment.

    anyway, yes, it is true na ang sarap pumirma ng auditor's opinion. Pero it takes a great responsibility everytime you sign a financial statement. lalong lalo na kapag corporation ang pinipirmahan mo. Kapag nagkaroon ng problem sa pinirmahan mo, ang cpa ang pinapatawag at hindi ang management.
  • ynang_reynaynang_reyna PEx Veteran ⭐⭐
    @mari_an28
    Hello there.

    At least you've got an experience in the field of auditing even though it is an internal audit, but still it is an audit. Besides, you only spend 5 months. Me, I experiencing difficulty in remembering the standards, but those are still in my veins. Good luck to our career.

    I hope I will pass the next interview, now it is the partner will be my interviewer. I don't have experience on this. Can somebody give me insights on how the throw questions? Thanks in advance.

    normally ang tinatanong ng mga partners ay actual scenarios na ginagawa ng mag external auditors. I remember one question that was asked to me when I applied as external auditor.

    "What would you do if a client would not allow your proposed adjusting entry that can increase their income tax payable? Let us say, a very material amount that will add Php 100,000.00 plus in their income tax payment and would exceed their budget."

    I answered "No" because as a CPA, I am responsbible for the accuracy of the financial statements that will be issued to the public. I would owe that to them.

    At the end of the interview, bagsak ako. Ganun pala ang laro sa auditing firm and when I joined an auditing firm, dinadaya pala nila ang mga financial statements just to get and maintain clients.
  • normally ang tinatanong ng mga partners ay actual scenarios na ginagawa ng mag external auditors. I remember one question that was asked to me when I applied as external auditor.

    "What would you do if a client would not allow your proposed adjusting entry that can increase their income tax payable? Let us say, a very material amount that will add Php 100,000.00 plus in their income tax payment and would exceed their budget."

    I answered "No" because as a CPA, I am responsbible for the accuracy of the financial statements that will be issued to the public. I would owe that to them.

    At the end of the interview, bagsak ako. Ganun pala ang laro sa auditing firm and when I joined an auditing firm, dinadaya pala nila ang mga financial statements just to get and maintain clients.

    pwede niyo po ba sabihin kung anong firm to? (**** pm nlng po)
  • One good reason to invest time sa audit firm ay ang demand ng acquired skills sa ibang bansa. baseline ang 100k net salary after around 3 years with any decent audit firm. Basta ba makapasa ka sa overseas employment tests.
  • DiCapricornDiCapricorn PEx Rookie ⭐
    normally ang tinatanong ng mga partners ay actual scenarios na ginagawa ng mag external auditors. I remember one question that was asked to me when I applied as external auditor.

    "What would you do if a client would not allow your proposed adjusting entry that can increase their income tax payable? Let us say, a very material amount that will add Php 100,000.00 plus in their income tax payment and would exceed their budget."

    I answered "No" because as a CPA, I am responsbible for the accuracy of the financial statements that will be issued to the public. I would owe that to them.

    At the end of the interview, bagsak ako. Ganun pala ang laro sa auditing firm and when I joined an auditing firm, dinadaya pala nila ang mga financial statements just to get and maintain clients.
    Thanks again Ynang Reyna.
    As a matter of fact, it is good to pay the right taxes. But, how do our government spend our Money? The clients' money? Kung ako ang tinanong ng ganyan, alam nyo na po Ynang Reyna kung ano ang sagot ko. Hehe.
    Salamat talaga Ynang Reyna. Baka meron pa po kayong naaalalang question ng partner?
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