Universitas Gadjah Mada
Faculty of Economics and Business

After holding an Audit Simulation with Deloitte, one of Big-four Accounting Firm, on May 14, 2016 Deloitte last Saturday, the Department of Accounting together with Accounting Students Association of Gadjah Mada (Imagama) held similar activities together with PricewaterhouseCoopers (PwC) at the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM), on Saturday 28 May 2016. As one of Big-four Accounting Firm, PwC brought its 120 auditors to directly involve in the Audit Simulation.

Earlier, on Thursday (26/5) PwC also had the opportunity to be a guest lecturer in auditing class in the Faculty of Economics and Business UGM. Yusron Fauzan, a PwC’s Partner said that the Audit Simulation aimed to illustrate to students about working in Accounting Firm as a fresh graduate. This is the second time PwC held an Audit Simulation at UGM. Previously held in 2013.

Yusron also explained that during the simulation, participants were divided into small groups. Each group was led by one to two senior auditors from PwC. The materials given in this simulation covered callover of financial statements, summary contract, stock opname, and bank confirmation. "Those four activities are the main works that fresh graduates do in the first year as an auditor," said Yusron, who is also a graduate of UGM.

Dita Arafanti, Audit Simulation Committee from Imagama, said that this simulation is interesting for Accounting Students FEB UGM, not only from the Undergraduate Program, but also students from Master of Accounting and PPAk (Accounting Profession Education). "The registrants were about 175-180 students, however, due to limited seats, only 120 students were accepted,” she concluded.

One of the participants, Agatya Wahyu Vara, revealed the benefits she gained from the audit simulation that took place during three sessions. "I think this simulation give me some insights on how audit is, because at class we usually have the theory. Bank confirmation, stock taking, summary of contract are materials we learn on a text book. But here, I was taught how the real one is, from the working paper, logical thought flow, and the work flow," said accounting student year 2012. She also hopes that this activity could be held regularly in the future.

On the other hand, Yusron Fauzan said that PwC expects this activity does not stop here. "We are already talking to Pak Mahfud -Head of the Department of Accounting FEB UGM- that we (PwC) did not want to stop here. We want to develop activities such as guest lecturers, audit simulation or whatever the form is in the future," he explained.

According to Yusron, PwC accepts about 100 interns every year, and more than 200 new employees. He expected that UGM could at least contributes about 15-20% of that figure. "At the moment, we are now having an assessment process of internship at PwC during this audit simulation. We observe and score the participants as well. Some students that are fit and appropriate will be invited for an internship in next January," said Yusron.

Source: Revina/Equilibrium