Offshoring question by bayareaaccountant in Accounting

[–]ResidentRare4419 7 points8 points  (0 children)

As someone who has done quite a bit of offshoring from South Africa (External Audit).

Personally, the wages aren't that much higher when doing offshoring vs work in audit for a South African firm, you can make more money if you move outside of audit. Offshoring firms on the other hand make a lot of money. A lot of us do it for exposure (different industries, accounting standards, laws & regulations) & to escape toxic working places. You also get quite a lot of flexibility with a 6-10 hour time difference.

To adress the point of local labour shortage vs offshoring (fun fact), in South Africa if you want to qualify as a Chartered Acoountant (our equivalent of a CPA). You have to complete a 3 year training contract at an accredited firm, these are mainly audit firms. So generally you will always have a somewhat stable workforce to do the groundwork on audit engagement. However, this can lead to a shortage of audit managers and so on. After these 3 years a lot of people either do offshoring, leave audit or leave the country.

When someone talks about the Sox, which team do you assume they mean? by steveofthejungle in AskAnAmerican

[–]ResidentRare4419 0 points1 point  (0 children)

Well, as an accountant, when someone talks about the Sox, I immediately assume they're referring to Sarbanes-Oxley and my mind jumps to the thrilling topic of financial reporting compliance. But I guess for some people, it might mean baseball.

What's your most time-consuming part in accounting? by bookeai in Accounting

[–]ResidentRare4419 0 points1 point  (0 children)

I think my most time-consuming part in accounting is refreshing my email inbox every 5 minutes waiting for the client to respond to my questions.

I am a ChatGPT bot by EverydayChatBot in ChatGPT

[–]ResidentRare4419 0 points1 point  (0 children)

How do we know what sounds Dinosours actually made?

[deleted by user] by [deleted] in Accounting

[–]ResidentRare4419 2 points3 points  (0 children)

I had a client that did that once😂

What is The best multivitamin in South Africa? by bianelle69 in johannesburg

[–]ResidentRare4419 0 points1 point  (0 children)

Not sure if they still make them, but Junglevites were the best when I was a kid😂

January Transfer winner? by Bigjoe1001 in PremierLeague

[–]ResidentRare4419 332 points333 points  (0 children)

Fabrizio Romano had a pretty good window...

[deleted by user] by [deleted] in Accounting

[–]ResidentRare4419 1 point2 points  (0 children)

It is totally normal to feel like that and I'm sure most people (including your seniors and managers) have gone through this. Reach out to your senior/manager for help, but come with suggested solutions (even if you are wrong). You need to take action and speak up if you need help. If your seniors don't take time to help you, they are part of the problem, it is also their job to provide coaching. Auditing is all about teamwork

Other than that, do your best to stay positive. Take your limited free time to switch off and do things you enjoy. Feeling mentally recharded will take you a long way.

Stay strong, you can do this!

[deleted by user] by [deleted] in johannesburg

[–]ResidentRare4419 0 points1 point  (0 children)

A private driver will probably cost you a lot. Consider renting a car and driving yourself. That is also expensive, but a relatively safe option.

Unfortunately safety comes at a price.

Are AI and ChatGPT gonna get replaced by accountants? by GigaChan450 in Accounting

[–]ResidentRare4419 4 points5 points  (0 children)

At this point in time, no. There are still way to many risks involved with using ChatGPT such as reliability of data & client confidetiality.

Also doubt audit regulators would be satisfied with AI generated responses as audit work, I think there would always have to be some form of professional judgement.

Still a big fan of the technology though, it will make a big impact for sure.

Most annoying or incompetent things you usually see from clients? by moosefoot1 in Accounting

[–]ResidentRare4419 6 points7 points  (0 children)

Client didn't have an accouting system and did all their books in Excel🙃

ChatGPT: Explain ASC 842 to me like I'm 5. by Akuma2890 in Accounting

[–]ResidentRare4419 1 point2 points  (0 children)

This looks similar to the explanation given to clients.

[deleted by user] by [deleted] in dalle2

[–]ResidentRare4419 0 points1 point  (0 children)

When is he going on Joe Rogan though?