The survivor's guide to completing a successful internship in public accounting : an honors thesis (HONRS 499)

Each semester many students majoring in accounting must decide whether or not to pursue an internship in public accounting. There are a variety of internships available to students, ranging from small local firms to large international firms such as "The Big Four". This decision often times has a great impact on where the student decides to work full-time upon graduation. However, sometimes after a student completes an internship they will change majors, realizing that accounting is not for them.The basis of this document is to provide insight into some of the aspects of an internship in public accounting. Below you will find summaries of what I worked on each day, including the first week of training. These summaries are grouped together on a weekly basis. In addition, I listed out some key dos and don'ts that I felt were very important to my learning for each week.This document focuses on the audit internship itself and not on the recruiting process. If you are concerned about the recruiting process or want more information about career opportunities within the accounting industry, I would recommend visiting the Career Center on campus or talking with a professor. Also, I want to provide some general information related to the public accounting industry that will help you to better understand the content of this document.Every accounting firm has its own hierarchy, therefore I will use the one set in place by the firm where I worked. Interns made up the lowest level, followed by full-time staff accountants, then seniors, managers, senior managers, and finally partners. As an intern we reported primarily to the senior responsible for the area in which we were working.Since my internship took place during busy season (January – March) we were expected to work anywhere from 50-60 hours per week. It was not uncommon to work on Saturdays as well, depending on the engagement and the audit team. However, as is the policy with most public accounting firms, interns are paid by the hour and therefore receive time and half for any hours worked over 40.I hope this document can serve as a valuable informational tool for anyone considering an internship in public accounting, and also help to answer any questions that may arise during the decision process. I definitely enjoyed my time at the firm where I interned during the 13-week period.Honors CollegeThesis (B.?.