AuditClub Addresses CPA Talent Shortage with the Launch of AuditClub Academy
November 17, 2022
IRVINE, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- AuditClub™, the Audit Service Center for CPA firms, today announced the launch of AuditClub Academy, an innovative program designed to nurture interest in auditing careers and accelerate professional development for promising accounting students.
Unlike traditional internships, the inaugural class of college accounting students will be selected for year-round, part-time on-demand roles as AuditClub Academy cadets. While continuing their education, cadets will gain professional experience working with a team of senior-level chief auditors in support of multiple CPA firm members or private companies that have engaged AuditClub. Cadet work assignments span a broad range of activities, assisting chief auditors with the following:
- Preparation of audit or review workpapers for public and private clients
- Consulting and researching technical accounting and auditing issues
- Supporting CPA firms undergoing a PCAOB inspection or AICPA peer review
- Composing quality control policies and procedures
- Testing a CPA firm’s system of quality control
- Developing training materials on relevant accounting and auditing topics
Once accepted into AuditClub Academy, cadets commit to up to 8 hours per week, on average, enjoying flexible and virtual work arrangements, competitive compensation, and professional coaching from senior personnel who have firsthand experience as firm partners, directors, and college educators.
“AuditClub is on a mission to make public accounting better by tackling our profession’s biggest problems head-on. It’s no secret that the number of students pursuing accounting degrees and CPA certification has been in decline for several years,” says Chris Vanover, founder and CEO of AuditClub. “There are significant barriers to entry that AuditClub Academy helps students surmount. A CPA license requires undergraduate and graduate level course credits equivalent to 5 years of college. The CPA exam also requires an immense amount of preparation by the candidate and at least one year of general accounting work experience to qualify for licensure after the exam.”
AuditClub Academy provides the preparation students need for a successful CPA career, while also offering compensation and benefits to offset the rising cost of college:
When a student joins AuditClub Academy, AuditClub provides a structured roadmap with specific milestones during each year of the program. AuditClub augments an accounting major by enrolling cadets in continuing professional education courses focused on technical and professional skills that have historically been offered to only full-time employees of CPA firms.
Beyond compensation, AuditClub also supports each cadet’s enrollment in a CPA exam prep course during their fourth year of college, with the plan that they would then be eligible to sit for the CPA exam once they have finished their undergraduate degree. AuditClub Academy also provides a supportive community of cadets and a realistic study program that aligns with each cadet’s schedule to ensure success.
Committed to a better work life balance for all its employees, AuditClub introduced public accounting’s first year-round 32-hour week. During a 5-year college career, AuditClub Academy cadets working part-time gain the equivalent of at least 12 months of work experience to meet the CPA licensure requirements in many states, while earning income to offset college expenses.
Vanover continues, “Our goal is to ensure our cadets are eligible to be licensed as a CPA the moment they complete the 150-hour requirement. It’s a win-win for both the student and AuditClub. Assuming exceptional performance throughout their time within AuditClub Academy, graduating cadets will be commissioned as full-time senior members of our AuditClub Crew with greater responsibility and at a higher pay scale, thereby accelerating their public accounting careers.”
Applications for the inaugural AuditClub Academy will be evaluated on a rolling basis through December 15, 2022. Goal-driven accounting students are invited to visit the AuditClub Careers page to learn more.
AuditClub is transforming how public accounting firms deliver audit and assurance services by turning their traditional staffing model upside down. A licensed accountancy corporation based in the United States and registered with the PCAOB, AuditClub provides on-demand AICPA and PCAOB audit and assurance support to top 10, regional and local CPA firms throughout the United States and abroad via its membership access model. AuditClub services include support for audit and assurance, quality control, regulatory matters, training and transformation. Learn more at AuditClub.cpa.
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