Today is my unofficial first day of audit busy season. We flew into the client location last night, and spent the day at the client. I’m excited to be out here and starting the real work!

We’ll be out here for 2 weeks. I think this is my longest time working a plane ride away. After the two weeks are up, I’ll be back home for a week, and then back on a plane to another client for a week. Then I think I mostly have local clients after that, except for one.

The client we’re on right now is a conglomeration of entities. Our team is doing 3 reviews and 2 audits while we’re up here. Another team of two is at a different location performing attest services for a couple of other entities under the same umbrella, and a third time is on some sister entities in a third location.

One big thing I’ve seen in my internship and here, which wasn’t covered in school, is how complicated business structures are. And how normal this complication is. One entity will only exist as a holding company for tax purposes, for example, or two entities will form a partnership and own the other entities. I’m still trying to learn the reasoning behind all the divisions and complications, since half the time it’s the same accounting department trying to keep track of them all!

I hope everyone had a good first week of 2011! I’m still looking into purchasing a house to live in and renting out the extra rooms, but I’m not sure I’m ready for such a big commitment!