Relevance of MBA in auditing in terms of KSA.
The essence of auditing financial statements, is for an auditor to ascertain that the financial statements are in order with reference to the International Accounting Standards (rules and regulations). This must be carried out using the right auditing standards. Auditing is a very essential part of of any organisation or institution and is one of the measures used in determining the soundness of an organisation or institution in terms of managing its funds and resources. Auditors are given the mandate and thus must also do it right with the laws at the back of their hands. I have an in-depth understanding of the auditing and accounting laws which are important when dealing with financial statements. Auditing includes working under the federal rules and regulations, the statutes of the state, professionalism as guided by the Institute of Internal Auditors and other standards set by organisations that are relevant to auditing.
In the event a company is experiencing lack of control over its assets, I have been able to identify the weak points in the intrinsic control of the business. This involves carrying out audit surveys which may be narrow in scope; as inventory or petty cash or may be broad, covering all the areas. The effectiveness and reliability of accounting and other well developed reporting systems for a company are also essential and a business administrator can come in handy when trying to identify weaknesses or reporting problems in these important processes. Once these problems have been identified, with professional skills, there is room for brainstorming with a view to improve procedures, controls and the overall efficiency of the system. There is also need for presentation skills when presenting the financial and accounting reports which will be communicated to all the management departments.
I also have experience in writing audit reports which is wholly based on the field work. This also goes hand in hand with making implementations going by the previous audit reports which have to be looked at in tandem with recommendations made by the management. Apart from being able to run audits and evaluate the results, I have been able to sharpen my skills in terms of programs used to generate audit reports using the computer, at times there is the need for customisation to fit the undertakings of a company. Due to the ever changing environment, I have been able to enrich my business knowledge and technical skills through seminars and workshops which are in line with my discipline.
Since time immemorial examinations have always been used as an instrument for gauging people undergoing training or a learning session. As a lecturer with a unit on auditing, I was able to set examinations going by the syllabus and with the aim of knowing how one’s method of teaching is effective and how do the students understand. This involved setting several questions on auditing for particular market segments. The exams addressed factors affecting the industry, business practices, terminologies used in the industry. The examinations also cover completion and accuracy of auditing reports, the objectives and that the conclusions are drawn from the field work and most important, the standards and regulations are observed.
As an auditor there is need to keep one abreast with the ever changing auditing techniques and ones level is normally tested using the regular tests required by the governing auditing association. After the the release of result at the university, I was involved in the evaluation of the different methods and ways used to examine the students. I was mainly involved in analyzing the result in correlation to the examinations given. These reports are used to gauge the position of the industry as a whole and what changes need to be put in place. The examination reports also addressed the achievements made in the industry. With such a background I should be able to give assistance in giving effective reports on the audit examinations.
As an auditor I have regularly worked together with the various officials of the different organisations I have worked with or for, and more closely with accountants and other organisation personnel who need information on the audit reports or are asking questions on how to work on the recommendations.
Benlin A. (2007). Interviewing for jobs: MBA application in auding. [www page] URL http://www.ideasbusiness.co.sa/mbaapplication.htm