In my previous blog, I was about to leave for FAE study leave. I subsequently passed the FAE exams last November. It feels great to have all exams passed and to know that the hard work has paid off!
When I came back from study leave in October, I started work on a funds engagement which had 18 funds to be audited. I was a member of the audit team on this engagement for the previous 2 years and this afforded me with knowledge of the funds structure. As I had previous experience, I was responsible for auditing 5 funds in their entirety and coaching junior members of the team in their assigned areas.
At the start of January, I was given responsibility for the audit of a standalone fund. The Fund Administrator on this job was different to the Fund Administrator who I usually deal with and this meant that I had to get familiar with the different reports and systems at the administrator.
In January, I was working on an International and Domestic Business (I&DB) audit engagement. This was a multinational company. There was a team of 4 and I was assigned the sections of Revenue, Accounts Receivable, Accruals, Accounts Payable and VAT. As I primarily work in Asset Management, it was a nice change to be part of this audit.
In February, I commenced work on an engagement of 17 funds. This was another job which I was part of since the start of my contract with PwC. The funds held various derivative positions i.e. Forwards, Swaps and Futures. Some of the funds also held Term Loans. This led to the audit being complex in certain areas; however, it was a good learning experience. These funds were Cayman domiciled and therefore PwC Ireland performed the audit fieldwork, however, PwC Cayman signed the audit opinions for each of the funds. This process involved liaising with PwC Cayman at various stages throughout the audit.
As we are heading into Exam season, I would like to wish the very best of luck to everyone who has exams in the near future!
Bye for now,