For the Dutch version, click here The step from studying to working is a big one. You have to get used to working hours and obligations, learn a lot and gain new experiences. That was no different for Femke de Boer when she started working at Deloitte Audit over a year ago. Still, she thought it was not so bad. Thanks to the pleasant guidance of experienced colleagues, but also because Femke already knew the office very well from her board experience at study association Asset | Accounting & Finance. “During my master Accountancy I was a board member External Affairs at our study association in Tilburg”, Femke explains. “A position in which I was responsible for acquiring partners, maintaining contact with existing partners, setting up events and recruiting students for those events. A tough task, but the perfect way to get to know the finance and accountancy firms up close. In addition, I applied for a business course from Deloitte at the end of 2017. We went to Budapest with a select group of 25 students and Deloitte employees. An amazing experience and again a great way to get to know the office.” Femke obviously made a well-considered choice to work at Deloitte. “In accountancy, apart from the size and type of clients, the work doesn’t differ much from office to office. It is therefore all the more important that you experience whether a company suits you. Colleagues are a big part of your job. If it doesn’t click, it can make your work boring or obnoxious. I therefore mainly made the choice for Deloitte based on the people. This is a place where I can be myself. Of course, the other offices are also good employers, but Deloitte suits me.” It turned out to be an excellent choice. Femke is now a second-year staff member at Deloitte Audit and very enthusiastic about it. “I therefore mainly made the choice for Deloitte based on the people.” My work is very broad, Femke explains. “From auditing the annual accounts to testing internal control. You get to know the process and the customers from A to Z. Very educative. In addition, like my colleagues, I follow the postmaster to become a chartered accountant. I now learn to link theory and practice. The step is from studying to working is a big one. Also for me. Fortunately, as a starter at Deloitte you get good guidance from experienced colleagues. He or she walks you through your work and explains why we do the things we do. You simply have to learn to understand why you have to perform these checks as an accountant. Time and space is made for your postmaster and there is always someone who can and will help you if you have any questions.” Because Femke enjoyed the guidance of her colleagues, she herself also started looking for ways to assist others. “Everyone who is promoted will coach a colleague. For me that will take a short while, which is why I recently asked recruitment if I can already contribute. I now guide students who are making the choice for an employer. A lot of fun to do. Of course, I would like to persuade them to come and work at Deloitte, but the main thing is to be transparent. I am very positive about Deloitte as an employer. But the point is that a company has to suit you. That is why I advise everyone to do as much research as possible into the different employers. Go to the events of your study association and get to know the companies. It cannot be done from a flyer at the University Library, you really have to experience it. It takes a little effort, but wouldn’t it be a shame if after years of study you did not discover your optimal future employer just because you did not put in the extra effort?”
Interview with the NBA
For the Dutch version, click here Krenar Berisha is a self-employed auditor and an ambassador of the NBA. In this interview, Krenar tells us about his experiences in the audit practice and how important the NBA is for auditors. Can you tell us something about yourself? I am Krenar Berisha, born and raised in the most beautiful town of Noord-Brabant: Tilburg. Despite the fact that many (former) colleagues have tried to convince me that there are more beautiful cities in Brabant (especially colleagues who live in Breda), they haven’t been able to convince me. I started my student career at VMBO, then moved on to HAVO, and finally started HBO Accountancy at Avans University of Applied Sciences in Breda. In my final year of study and during my orientation phase, I came in contact with Baker Tilly in Breda through a (former) fellow student. Because of the positive stories about Baker Tilly, I became enthusiastic and started working there at the end of 2016. At the same time, I started the pre-master Accountancy at Nyenrode. After my first year at Baker Tilly, I decided to make the switch to KPMG. KPMG, a so-called big four office, is active in the highest segment of the market, which offers a lot of challenges. This challenge finally made me decide to make the switch. In addition to the challenges that an office such as KPMG offers, I also found the personal guidance very pleasant. In your early years, you will receive intensive guidance so that you get to know the profession well. In addition to my job and studies, I have also carried outside activities in recent years and I have been an ambassador for the NBA since 2019. After a few years at KPMG, I decided to start working as a self-employed person. Entrepreneurship has always been my ambition. This eventually made me decide to continue as a self-employed person. I also had the ambition to start working as a teacher. Since last summer I have been a teacher at the Fontys University of Applied Sciences in Eindhoven. I do this in combination with my current work at the municipality of Roosendaal and GR de Bevelanden. Many vacancies in our sector nowadays require extracurricular activities such as a board year, did you do something like this besides your studies? No. I did not perform any relevant curricular activities during my studies. A tip I can give here is: start setting up a network. A study association such as Asset can be of great value here. You can build up a network, which you can benefit from during your career. A tip I would like to give you is to use LinkedIn. This is a social media platform to maintain your business contacts/network. You just told me that you are an ambassador of the NBA, can you tell me something about the NBA? The NBA is the Dutch Professional Organization of Auditors. There are currently more than 22,000 chartered accountants in the Netherlands. These are both Auditors (RA) and Accountant-administration consultants (AA). They are all registered in the register of the NBA. This organization promotes the professional practice of the accountant. They do this by, among other things, drawing up rules of conduct, testing the accountants’ knowledge, and providing education. At the end of the practical training, there is a final exam in which the ability to act as a novice professional is tested. However, before you can complete the practical training to become an auditor, you first need to complete your theoretical training as a Chartered Accountant. With our ambassadorship, we try to make the profession attractive for students of higher vocational education (HAVO/VWO) and students of higher vocational education (HBO/WO) in their first or second year. We try to introduce students to the accountancy profession at an early age. As ambassadors of the NBA, I have given guest lectures and made promotional videos. We do this with the NBA Impact Challenge: a case in which the young people will advise a starting DJ as an auditor. Furthermore, I expect the profession to look completely different again in 10 years’ time, especially looking at current technologies and developments. The field of accountancy is very broad, which allows you to grow in all directions in the financial world. This is also something we want to demonstrate with the NBA Impact Challenge. You don’t often see that people of immigrant background are engaged in the accountancy profession, then it’s certainly nice that you volunteer with the NBA to show that side of things. That is (still) true. Nowadays you notice that, especially in the suburbs, the target group of immigration background is getting bigger and bigger. There is a new generation emerging with many different backgrounds. But regardless of background or origin, applies to everyone: you just have to do your stinking best, and then you’ll get there. Personally, you will never see me use my background as an excuse. I will always do my best and this can only work to your advantage. To what extent does the NBA give you the freedom to fill in the ambassadorship? We get a lot of freedom. The general idea from the NBA is: ‘you have been students and know what students think and want to know, so engage in dialogue with the students and show them what you think of the accounting profession. The NBA thinks along with you about the activities in an advisory role, but apart from that, we have the freedom to fill in the ambassadorship. Our goal is to give a clear and honest opinion about a day in the life of the auditor. Do you think the NBA has an essential role in sketching an accurate picture of the accountancy profession, or do you think the Big4 should play a greater role in this? Of course the NBA, as the professional organization of accountants and auditors, is indispensable to the profession. However, every auditor, whether registered or working, has
Working at HLB Nederland
For the Dutch version, click here My name is Adisa Berberovic and I have been working at HLB Van Daal for 10 years, currently as External Accountant & IT-Auditor in our Audit department. How did I end up here and how did my dreams come about? I would like to tell you in this article! A few years ago I started my career in accountancy at one of the larger Big4 and Big5 offices. Here I had an instructive and challenging period and also laid a good technical foundation within the auditing practice. After a few years, I decided to switch to a SME+ office. One of the decisive factors for me was more flexibility, both in work/life balance and in the activities, plus the opportunity to gain experience with a wide variety of clients and to quickly get to the table with policymakers. This gave me the ultimate challenge. A broad portfolio and international companies offer many opportunities At the audit practice at HLB Van Daal, I had the opportunity to enter into discussions with a wide range of large and medium-sized companies, both in the Netherlands and internationally. Our broad portfolio brings me to companies in many different sectors, from the public sector to large SMEs and international companies. Through the use of broad expertise, personal attention, and quick contact with the ultimate policymakers, we get to know all aspects of the company to the core. In addition, we value stable team building and a long-term relationship with our audit clients, which enables us to personally see the company grow and develop over the years. “I am optimally supported in guarding a healthy balance and at the same time the realization of my goals.” HLB Van Daal is committed to personal development and drives HLB Van Daal devotes a great deal of attention to the development of personal ambitions and qualities. As a member of the audit team, I have discovered that I have an affinity with the developments in automation and digital transformation at our clients and the ever-increasing importance of data and data analysis in the accountant’s audit approach. This has not gone unnoticed and, in addition to the study accountancy, I have been given the opportunity to follow a master’s degree in IT auditing. HLB gives me enough room to realize this ambition. The combination of both studies, work, a social life, and my family was tough. From HLB this remained well under the attention and I am optimally supported in guarding a healthy balance and at the same time the realization of my goals. Since the completion of my studies, I have dedicated myself to the development and design of our IT audit practice. We are constantly working on this further development and professionalization. The IT audit and data analysis play a major role in this. I am currently responsible for the coordination, management of the IT audit department, and further strengthening of our audit practice in the form of a data analysis team. HLB Van Daal gives me every opportunity to build on the future.
Audit in space: The new space race and its opportunities for auditors
For the Dutch version, click here Over the last couple of years, more and more private entities are getting involved in the space industry. The commercialization hereof, new interests from different countries, and further innovation are spurring on new demand to explore the space industry. This demand only keeps increasing while the resources in space are limited. Because of this, a new space race is set to be taking form [1]. The emergence of this industry not only brings opportunities for new technologies, but it will also have a large impact on other industries such as accounting, taxation, and finance, to name a few [2]. Within all these industries an interesting one to look at is the auditing industry. One of the main roles an auditor is known for, is to independently give an opinion about whether companies’ financial statements are constructed with a certain level of confidence, according to the standards that it should follow. The combination of auditing and the space industry leads us to multiple questions. How will auditing look like in the future space industry; what obstacles does it face; and how likely is it that an auditor of today, with no prior experience in the space industry, will have to audit a space company in the future? But first of all, is there demand for audit in space? The current space industry is said to be worth around $330 billion USD. In addition to that, the future growth rate is expected to be immense. Bank of America predicts that in 30 years this industry will be worth $3 trillion USD [3]. This figure is a result from many different sub-industries in the space industry. Aside from the popular resupply missions to the International Space Station (ISS), other sub-industries have also been around for some time and new ones are still being born. A current large sub-industry is the transportation business for satellites and other devices. This business segment uses rocket launches to take care of transportation for the satellite and communications industry [4]. This is currently dominated for U.S. launches by SpaceX (founded by Elon Musk) and United Launch Alliance (a joint venture between Boeing and Lockheed Martin) [5]. Next to this, some new markets are; space tourism (Virgin Galactic founded by Richard Branson and Blue Origin of Jeff Bezos), space manufacturing, the creation of new space stations, and mining in space [6] [7] [8]. “If future investors are willing to invest in the mining of asteroids, how would they know with certainty that these asteroids exist if most people do not even own a telescope?” All of these ambitious projects cannot happen without facing some hurdles. To be able to bring these projects to life would require a large amount of capital from investors, and a lot of trust from clients. An important thing for investors would be to have as much trustworthy information as possible about a firm, before making an investment. Also clients such as governments from different countries would want to be sure that they are dealing with a responsible company. Both of these challenges can use an auditor to help solve them. So the auditing profession does seem to have opportunities in space commerce. Now that we know there are opportunities, what challenges can we expect these opportunities to bring with them? How do large distances and audit independence play a role in this setting? Firstly, a great challenge for auditors is that they are not able to easily conduct work physically in space (yet). This is due to the high costs that this incurs [9]. If future investors are willing to invest in the mining of asteroids, how would they know with certainty that these asteroids exist if most people do not even own a telescope? Since we cannot see these asteroids in person, there could be discussions whether to treat these asteroids as a non-physical asset in the audit process. Thus, the auditor would not be present to see the asset personally. The feat of auditing non-physical assets is a challenging one, and cases such as the Wirecard fraud can certainly prove this [10]. “ Just one launch may be the decisive factor of a space company being very successful or disappearing for good.” Secondly, the audit independence will also be a great complexity, because there are not many people with industry specific knowledge in the space industry [11]. Thus, it will be hard to find someone to independently judge certain operations and who does not work for the same company. When it comes to counting inventory in space it will be expensive to send an independent auditor to do this in the first years. Because of this, more reliance will have to be put on modern technology and the integrity of astronauts. However, to get more confidence in this situation in the future, more accurate sensors and technology would have to be developed to count the assets and inventories in space. This will lead to a greater reliance on highly technical instruments that auditors will have to trust and audit as well. This will in return also push auditors to expand their knowledge in areas outside of their current field. What role does the risk factor play when auditing in space? If there was one thing that makes the space industry so different from an accounting perspective, it would be the amount of risks that it carries. Some consider it to be the riskiest and most difficult industry to operate in [12]. Just one launch may be the decisive factor of a space company being very successful or disappearing for good [13]. Also, just one small error with a bolt can lead to a whole rocket exploding [14]. This brings even more challenges for the audit industry to tackle. Because of the high risks, quality control is of utmost importance. To have a good overview of quality control a good internal control needs to be in place. This will prevent unauthorized personnel from making unauthorized actions and minimizing mistakes. Besides
Auditing in the Caribbean: An opportunity of a lifetime
Introduction On an island 8000 kilometers away from the Netherlands, where the sun always shines and where the average rainfall is less than 20 inches a year, there is a place called Aruba. Aruba is an island that forms part of the Dutch Caribbean and is part of the Dutch Kingdom. Many people are familiar with this island due to its beautiful beaches and friendly people. An ideal vacation destination that one of your acquaintances or relatives always talks about. Though, for some people, this place is considered home, which means that ‘real-life’ jobs also exist here. Reading the word auditing in the title may stir some confusion. What does this island have to do with auditing? What in the world would people audit on such an island? Coconut shacks? Jet ski rentals? Not quite. Aruba is known for its tourism industry and hence has a lot of commerce business on the island. Consequently, this stimulates the need for auditors on the island. On Aruba, the profession of auditing is mostly stimulated through endogenous incentives. Banks are the ones that are the most likely to ask for an audit to be conducted, however, there are also shareholders that require this sometimes. All of the hotels and activities that a person makes use of as a tourist have to be audited as well. Though, what is so different about auditing on the island of Aruba especially if one were to work there? In this article, Mr. Edsel Lopez RA and Dr. Robin Litjens RA guide us through the world of auditing on Aruba. Not only do they talk about the differences in the field of auditing, but they also talk about their experiences as an auditor there. One with a local background, and the other as an expat. The Setting on Aruba Mr. Lopez, current partner at Grant Thornton (former partner at PwC), is a well-known accountant on the island with more than 20 years of experience working on Aruba. He has been in the field of auditing ever since he completed his studies at Tilburg University. Lopez started his career in audit at Coopers & Lybrand in Amsterdam after completing a master’s degree in Administrative Information Science, at Tilburg University. Afterwards, he proceeded to obtain his post-master Accountancy degree at Tilburg University as well. Later, after working for a couple of years in the Netherlands, he then moved back to Aruba to proceed with his career. “As an auditor, you become much more of a generalist because you ought to audit many industries with minimum companies to compare with.” Looking out of his office right outside to the main road on Aruba with coconut trees waving after experiencing a heavy gust, Lopez mentions that the auditing scene on Aruba is to be looked at from a helicopter point of view. “There aren’t many companies in each sector on Aruba, for example, we barely have two complete hospitals on the island.” “As an auditor, you become much more of a generalist because you ought to audit many industries with minimum companies to compare with.” Lopez states that an auditor on the island of Aruba experiences a lot more from a bigger standpoint than the average auditor in a bigger city. Also, with minimum people to carry all the workload, the auditor tends to be placed at a much higher level very fast compared to if he/she were in a bigger city. However, there are other factors that are an outcome of a small island. One must note that there are approximately 120.000 people living on the island. So, one thing that becomes really important is your soft skills. How are you going to deal with a situation where you might meet your engagement client in the supermarket? Are you going to ignore his questions about the engagement and try your best not to create a social bond with him to keep your audit independence? Or are you going to deal with this differently? Hence, you are encountered with challenges that you are less likely to encounter in a big city or a big country where there are millions of people living. A different setting brings its challenges. However, coming from a point of view from someone who has spent a big part of his career on the island can be a bit biased. So, how did an expat experience this? Experience from an Expat During a cold winter day in the Netherlands, where the weather is all grey and it hasn’t stopped raining for the past couple of hours, sits in his office at Tilburg University, none other than Dr. Robin Litjens RA. Litjens is an assistant-professor at Tilburg University at the department of Accountancy. Though, before starting his career in academics, Litjens had been an auditor in practice. After completing his studies, and while he was already working for a couple of years, Litjens looked back at never having the opportunity to go abroad during his college years. “During my time studying, it was not so common for a student to go on exchange. Things didn’t go as easy back then.” This had left Litjens with the desire of moving abroad for his career someday. After going on vacation to Aruba, Litjens spoke with some people about the opportunities there. He immediately knew that this was the place to be. “It was not only the atmosphere that has made me attracted to Aruba, but also its people. I was on vacation and asking strangers about opportunities and people were already offering me positions as a business controller in the then newly opened telecom company Digicel.” However, Litjens wanted to remain in the auditing scene and got to transfer from KPMG Netherlands to KPMG Aruba. “To my surprise, I was almost immediately in a position where I had to make decisions on a higher level than which I had to make in the Netherlands. Some of these decisions entail decisions on what was feasible for the engagement(s) and what could
Working At Van Oers
For the Dutch version, click here Self-Introduction My name is Silvie Tax, I am 26 years old and I currently live in Breda. I have been working at Van Oers Audit for the past three-and-a-half years. I am also still busy with my studies, namely the post-masters in Accountancy, which I follow at Nyenrode. Van Oers Audit is situated in Breda as a department of Van Oers Accountancy & Advice, with over 350 employees divided over five locations in western Brabant. We now work with 55 colleagues in our department, which makes us one of the larger regional control practices. We have a young and enthusiastic team and mainly serve the SME (profit)-sector. Our clients mainly come from the Tilburg-Rotterdam-Zeeland triangle region. In addition to my work and my studies, I like to go into the city for a drink, I do sports and I make music. Career I started my career at Van Oers Accountancy & Advies. I first started here during my dual studies at Avans university in Breda. With this good foundation I started working at Van Oers Audit, where I also started working full time after my studies at the Avans. What I like about the audit department is the variety in working with different clients and colleagues at various locations. After my studies at the Avans I started my (pre)-master at Nyenrode University. Abroad Last year I had the opportunity to work abroad for three months (August to October), namely in Sydney (Australia). This opportunity came because Van Oers is affiliated with the international partnership; Leading Edge Alliance (LEA). The company that I worked for in Sydney is also affiliated with this partnership and it has similar offices as Van Oers with three offices in New South Wales, in Sydney, Newcastle and Brisbane. For the audit team, the busy season was during this period. Due to the opposite seasons, most financial years are closed on the 30th of June instead of on the 31st of December. The first two months we visited many customers for the audit. As for the last month, we ended at the office in Sydney. During this period, we had the time to complete all checks. This was a super beautiful and educational experience! I have been able to get acquainted with the Australian GAAP (which is closely aligned with international legislation; IFRS) and with Business English. “In addition, lots of fun activities are also organized, such as drinks (both with the department and the entire office) and running events.” Activities I work as a Senior Staff in the Audit Department. In my role I manage the Staff-members on the control team and I report to the Supervisor / Manager on the team. We often work as a team for the customer. My daily activities are therefore very diverse. Van Oers I got to know Van Oers through an In-house day that was organized by Avans. The feeling that I had of Van Oers was immediately a positive one. The atmosphere within the organization is very pleasant and personal. Because we are relatively large in size, there is also a professional atmosphere in which there are many opportunities and possibilities to develop yourself. There is also a lot of attention for personal development. For example, Van Oers has recently started its own Van Oers University. In addition, lots of fun activities are also organized, such as drinks (both with the department and the entire office) and running events. My ambitions My ambitions are to complete my post-master and then to complete the practical internship needed to become a Chartered Accountant. Ultimately, I would like to grow into the person responsible for assignments. My advice Would you like to work for a professional organization with a personal approach? Would you like to work at an organization with a customer-focused approach, where you get many opportunities and possibilities to grow? Then I would definitely take a look at Van Oers.
