FAQs
What is the main focus of the External Audit Intern position?
The main focus of the External Audit Intern position is to assist the Finance Bureau with External Audits, including pre-contract reviews and final audits, particularly for projects funded by the Federal Highway Administration (FHWA).
What type of students are eligible for this internship?
Currently enrolled students in a degree program at an accredited educational institution are eligible for this internship.
What academic background is preferred for this internship?
Accounting students are preferred, with a minimum coursework requirement of Intermediate Accounting I & II and Cost Accounting.
What skills will the intern develop during this internship?
The intern will develop skills in financial and cost accounting concepts, risk assessments, audit analytical skills, compliance auditing, and identifying allowable and eligible project costs.
What tasks are included in the pre-contract review?
In the pre-contract review, interns will perform contract reviews, prepare work papers documenting analytical procedures, and prepare a Precontract Review that includes questioned costs.
What tasks will the intern perform during the final audit?
During the final audit, the intern will perform preliminary risk assessments of project costs billed, prepare work papers and a Final Audit Report, and assist the lead auditor with specific tasks/audit steps on large audits.
Will the intern be learning about state and federal regulations?
Yes, throughout the internship, the intern will learn about state and federal regulations related to auditing.
Is this internship only for one semester or can it extend longer?
The duration of the internship is not specified; interested candidates should inquire for more details during the application process.
Is there any specific experience required to apply for this internship?
There is no specific experience required, but relevant coursework in accounting is necessary.
What support will the intern receive during the audit process?
The intern will work closely with the lead auditor and receive guidance on audit procedures and methodologies.