There are many assumptions, prejudices and infinitely many myths about the profession of auditor. Which for example? At random:
“Audit is boring!” (No, it is not…)
“Auditor is busy as a beaver!” (Well…yes)
"The auditor in the office may be asleep, surrounded by his files and bills!" (Almost never!)
"Audit is a hard work, but at least they have their audit vacation" (No, we don't)
And so on, and so on…
Yes, some of these myths may seem to be based on truth, even though the truth is relative (not in audit!). For some, audit work is fun, for others it is not. That's how it goes in life, and that's how it is fine. However, the myth that I would like to rebut here is the one about "audit vacations".
Our colleagues from other departments ask us why we still sit at the laptop even in the summer from morning to evening. After all, all clients must have a completed audit and filed tax returns by the end of June. So we are long after the season and we have no work until the autumn. Aren't we a bit workaholic?
In recent years, more and more companies have been adjusting the end of their fiscal year to their seasonality, so it is no longer true that the end of the reporting period is only 31 December. Ending the fiscal year not at the end of the calendar year, when the audit season is in full swing, but only at the end of June, when a very large part of the audits is completed, makes sense not only for our clients but also for us in the audit.
SO, WHAT WE AUDITORS ARE DOING DURING THE AUDIT VACATION?
Of course, we do audit like other months, because our clients have the end of the fiscal year at the end of April or June, so for us the season does not end even in the summer… and we all look forward to our dream audit holidays, which actually do not exist. 😊