![]() And yes, you guessed it – I had to check the client’s tax reconciliation and propose corrections. I had to attend the inventory count in the cold freezing midnight of the New Years Eve (no dancing and having fun that year!). I was swamped in the worst and nastiest tasks you could ever imagine. If you take action today and subscribe to the IFRS Kit, you’ll get it at discount! Click here to check it out! Have you already checked out the IFRS Kit ? It’s a full IFRS learning package with more than 40 hours of private video tutorials, more than 140 IFRS case studies solved in Excel, more than 180 pages of handouts and many bonuses included. So, when I learned I would be in her audit team in a big manufacturing company with even bigger mess in the books, I instantly knew what would happen. To this day, when we occasionally meet, we could barely look at each other and I even gave up greeting her, because she just never responded and looked straight through me like I was the air. ![]() I was unlucky to end up in the second category. You could never know in which category you were. She literally loved some audit assistants and praised them a lot and on the other hand, she could really dislike the other assistants and make their lives difficult. However, she was moody, vague, unpredictable and sometimes very unpleasant. Her working papers just looked great – all clean and neat. ![]() Jess was very hard working, clever and pedantic senior. Let’s call her Jess (not her real name!). Many years ago I was assigned to an audit team lead by very competent, but strict audit senior. ![]() Sure, if not interested, then skip it and go straight to theory and example below. Let me tell you my own story about the tax reconciliations. Our clients hated it too, especially if their transactions were complex, or there was a change in the tax rate or whatever happened. For me, it seemed like a bunch of numbers and percentages that never add up and the magic table never gets balanced. The main reason was that I did not understand the purpose of it. When I was an audit freshman, my least favorite task was to prepare the income tax reconciliation. ![]()
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March 2023
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