WEBVTT 1 00:00:00.090 --> 00:00:01.380 Hello, my name is Matin. 2 00:00:01.380 --> 00:00:02.800 I'm an accountant. 3 00:00:02.800 --> 00:00:06.150 At CohnReznick we do auditing, advisory, and tax. 4 00:00:06.150 --> 00:00:07.810 line:15% So it's the public accounting side. 5 00:00:07.810 --> 00:00:10.450 line:15% I'm in the auditing field. 6 00:00:10.450 --> 00:00:13.200 line:15% So I'll audit mostly private clients, 7 00:00:13.200 --> 00:00:16.470 line:15% some public clients, in all ranges of industries. 8 00:00:16.470 --> 00:00:18.510 line:15% We provide kind of like a one-stop shop 9 00:00:18.510 --> 00:00:21.100 for all accounting services that a company might need. 10 00:00:21.100 --> 00:00:23.060 So we're going in, making sure that the clients 11 00:00:23.060 --> 00:00:24.630 are fairly and accurately reporting 12 00:00:24.630 --> 00:00:25.840 their financial statements. 13 00:00:25.840 --> 00:00:27.626 If there's any errors we'll catch it 14 00:00:27.626 --> 00:00:29.350 and we'll communicate it to the client, 15 00:00:29.350 --> 00:00:32.060 make sure before they release it to the external users, 16 00:00:32.060 --> 00:00:33.960 the investors, whoever they're gonna 17 00:00:33.960 --> 00:00:35.460 line:15% give their financial statements to, 18 00:00:35.460 --> 00:00:37.440 line:15% we put our seal on it so that people know 19 00:00:37.440 --> 00:00:39.130 line:15% that it's been thoroughly looked at, 20 00:00:39.130 --> 00:00:41.730 line:15% it's legit, it's accurate. 21 00:00:41.730 --> 00:00:43.640 line:15% So we'll go in, we'll go into the clients, 22 00:00:43.640 --> 00:00:46.250 line:15% we'll see all their work, all their statements. 23 00:00:46.250 --> 00:00:48.110 We'll go through everything. 24 00:00:48.110 --> 00:00:49.880 So the entire financial statements are the balance sheet, 25 00:00:49.880 --> 00:00:52.120 income statement, statement of equity, cash flows, 26 00:00:52.120 --> 00:00:54.162 and we'll go basically line by line 27 00:00:54.162 --> 00:00:55.620 to make sure that it's accurate. 28 00:00:55.620 --> 00:00:58.330 And we'll take one thing, start with the balance sheet, 29 00:00:58.330 --> 00:01:00.300 line:15% assets, and we'll see, 30 00:01:00.300 --> 00:01:01.860 line:15% depending on the industry and the client, 31 00:01:01.860 --> 00:01:04.020 line:15% there's of course things that are gonna be more material 32 00:01:04.020 --> 00:01:04.970 line:15% than others. 33 00:01:04.970 --> 00:01:07.970 line:15% So we'll go through one by one and just see 34 00:01:07.970 --> 00:01:10.060 how can we make sure that this is accurate? 35 00:01:10.060 --> 00:01:10.930 What do we need to look at? 36 00:01:10.930 --> 00:01:11.763 What do we need to test? 37 00:01:11.763 --> 00:01:13.630 And from there we'll communicate with the client, 38 00:01:13.630 --> 00:01:14.520 we'll visit the client, 39 00:01:14.520 --> 00:01:17.280 we'll get whatever documentation that we need, 40 00:01:17.280 --> 00:01:19.750 tap into whatever records or systems that they have 41 00:01:19.750 --> 00:01:21.110 that we need to look at, 42 00:01:21.110 --> 00:01:23.920 and from there we'll do our own analysis, 43 00:01:23.920 --> 00:01:25.980 making sure that it's independent, 44 00:01:25.980 --> 00:01:28.790 and then come up with our assertion 45 00:01:28.790 --> 00:01:31.400 of how fair the financial statements are. 46 00:01:31.400 --> 00:01:32.790 Usually a few different things at once. 47 00:01:32.790 --> 00:01:34.620 It seems like I'm usually working with 48 00:01:34.620 --> 00:01:36.220 three or four clients at a time. 49 00:01:37.780 --> 00:01:39.630 line:15% There's busy season, which is past, 50 00:01:39.630 --> 00:01:41.300 line:15% which ended in April when all the clients 51 00:01:41.300 --> 00:01:43.299 line:15% are busting out their financial statements. 52 00:01:43.299 --> 00:01:46.360 line:15% And when I was in busy season I was really focusing on 53 00:01:46.360 --> 00:01:47.270 line:15% one client at a time. 54 00:01:47.270 --> 00:01:48.140 line:15% And that's when you would spend 55 00:01:48.140 --> 00:01:49.580 pretty much all week at the client 56 00:01:49.580 --> 00:01:52.755 just grinding and working it out. 57 00:01:52.755 --> 00:01:54.438 But when it's not busy season, 58 00:01:54.438 --> 00:01:56.133 three or four clients at a time.