Learning from Big 5 firms at ACCA Global Audit Simulation

In June 2023, a group of our Accounting and Finance students came in the top five places at the ACCA Global Audit Simulation, with one team led by an MDX Dubai student coming in first place and the second team led by an MDX Dubai student placing fifth. This is an incredible achievement and our students should be very proud of their accomplishments!

This unique programme is hosted in collaboration with the prestigious Big 5 firms, offering a weeklong immersive experience for students interested in the world of auditing. Participants were placed randomly into teams of students from institutions based around the world for the challenge, and were able to gain hands-on experience in the field and develop global connections at leading firms and with other students specialising in Accounting and Finance. Dr Vijaya Kumar, Senior Lecturer Accounting and Finance, mentored the students throughout their participation in the simulation.

Cassandra Noronha talked to us about her experience taking part in the competition:

“The ACCA Global Audit Simulation organised by Sunwaytes provided me with the opportunity to practically apply all the audit knowledge I gained through university.

On Day 1 of the simulation I took up the role of team leader. So, besides understanding the tasks to be completed for the day, I was also challenged to segregate duties and communicate it to my group. I am grateful that I was assigned to a group that completely supported me throughout the week.

After Day 2, we got to know each other better and started regularly discussing our findings together. This was definitely important because only through regular communication we were able to finish our tasks for the day on time and prepare ourselves for the next hectic day.

All concepts we learned in university were utilised throughout the simulation. This included planning the audit, preparing the audit strategy memorandum, conducting risk assessment procedures, performing walk-through tests, testing the internal controls, performing substantive procedures, and providing an audit opinion.

The area I found most exciting was the meeting with the auditee. It gave a feel of how a real-life audit would be performed.

At the end of the simulation, we had to prepare a presentation for the audit review manager. These managers came from the big audit firms and the firm that was assigned to us was Deloitte. In the Q&A round, the manager questioned us solely from our slides and working papers and also provided us with useful insights as to how to think from the perspective of an auditor, such as giving us tips on how to discover any ‘red flags’ and many more things besides.

I believe that this experience overall has been a great learning opportunity. Not only did I have a lot of fun, but I also made several new friends from Malaysia! I’m extremely grateful to Dr Vijaya for continuously providing us with so many academic opportunities that helps us grow in several different fields.”

Are you interested in a career in auditing, finance or accounting? This achievement could also be yours! Learn more here about our Accounting and Finance programmes and how they’ll support you to launch a global career in the field.