Winter 2022 Audit Internship Details

Winter 2022 Audit Internship

Topel Forman L L C - Chicago, IL

Employment Type : Full-Time

Summary/Objective

The internship will include training on the preparation of audit work papers, audit programs, and financial statements in accordance with Generally Accepted Accounting Principles. Additionally, the internship includes training on the preparation of individual tax returns, tax work paper documentation, and referencing with the supervision of seniors, managers, and partners. They will learn how to utilize various audit and tax software (i.e. Advance Flow, Go system, Go Fileroom, Checkpoint RS, etc). This is a full-time position. Some flexibility in hours is allowed, but the intern must be available during the “core” work hours of 9am to 4pm and must work 35 hours each week to maintain full-time status. After the internship, interns will understand several different aspects of accounting that will provide a good foundation for future opportunities.

Essential Functions

Audit (2/3 of internship)

• Responsibility for auditing select areas of a client balance sheet and income statement
• Preparation of client assistance requests, and appropriate follow-up and evaluation
• Assist with or prepare financial statements and other related reports
• Apply the pronouncements of the Financial Accounting Standards Board and the AICPA
• Meet client deadlines for preparation of reports
• Understand and utilize TF’s audit methodology
• Regular client site travel

Tax (1/3 of internship)

• Prepare a variety of tax returns which may include: individual, corporate, partnership, trust, gift tax, and not-for-profit tax returns to meet government requirements and client expectations
• Prepare individual tax projections to ensure proper tax planning for the client
• Maintain a working knowledge of individual tax laws
• Respond orally and in writing to tax inquiries from various sources including government agencies and clients
• Maintain working knowledge of tax preparation software used in the office
• Perform other accounting duties as necessary to meet the responsibilities of the position and client expectations

General

• Identify and communicate tax and accounting issues to senior associates, managers, and partners
• Demonstrating flexibility in prioritizing and completing tasks
• Proactively seeking guidance, clarification, and feedback
• Learn about the firm – get to know partners/managers, services provided, specialties of individuals, key clients, and industries served
• Build communication skills: practice business writing (clear memos, letters, and emails), working with clients, and feeling comfortable in business situations.

Required Education and ExperienceEnergetic, team-oriented applicants should be an Accounting major proficient in Microsoft Office applications. Attention to detail, the ability to multi-task and communicate effectively are all essential to this position.
Time CommitmentOur winter internship is a full-time internship that will begin in January and conclude at the end of April. The time commitment to start will be 35 hours but will increase beginning in mid-to-late January up to a minimum of 50 hours per week, including evenings and 1 day of the weekend. We strongly encourage our interns to take the semester off from school. However, if you must take classes, we recommend no more than 1 or 2 classes during your internship to ensure both your success in the internship and your school work does not suffer.