Portsmouth Business School
Auditing students advise local charities
Mon, Apr 26, 2010
A dozen third-year students are working with The Rowans Hospice and The Roberts Centre in a partnership which offers the charities accounting advice and in return gives students a real-world learning experience.
The students examine different aspects of the charities’ accounting systems under the supervision of one of their tutors, an experienced auditor, before submitting a final report to the charities’ trustees.
This is the second year the project has been running after The Rowans Hospice, a local charity providing specialist Hospice care and support to patients with life-limiting illness, contacted the Business School seeking support.
Accounting and Finance Lecturer, Caroline Willett, who established the partnership programme, said it has been a huge success and hopes it will continue to grow in future.
“There is a huge difference between auditing theory and auditing practice so this opportunity gives students the chance to really think like auditors. It’s important for them to place their learning in a real-life context, which can be unpredictable, as the theory they learn in the classroom is often neat and well-defined,” she said.
“Offering the students’ skills out to the local community is an excellent way to set up a reciprocal relationship – the charities benefit from the university’s expertise and the students gain genuine work experience.”
After a successful pilot last year with The Rowans Hospice the project has already expanded and the university is also working with The Roberts Centre – a local charity offering support and assistance to families striving to improve their disadvantaged circumstances.
“Although the Trustees of the two charities are responsible for their internal audit system, they are not in a position to look at them in any great depth so the students’ help is invaluable,” said Caroline.
The auditing students use the work experience to count towards their final coursework assessment.
Daniel Brooke, an undergraduate student studying Accounting with Finance, said the work experience has given a fantastic opportunity to make him more aware of auditing as a profession.
He said: “It is helpful to examine an actual company’s accounting practices instead of a text-book example because you really begin to understand the nature of the job.
“Working with the two organisations has been incredibly rewarding and has made the course more understandable and achievable. I’ve really enjoyed the scheme and hope it continues to grow so even more students can take part.”
Angela Roystone, Financial Controller at The Rowans Hospice said: "The partnership between the Hospice and the University is mutually beneficial; the students have the opportunity to have practical working experience outside the classroom and the Hospice benefits from the students’ knowledge and up-to-date ideas – it’s a win-win situation.”
Related links:
http://www.port.ac.uk/departments/faculties/portsmouthbusinessschool/latestnews/title,110573,en.html
http://www.port.ac.uk/departments/faculties/portsmouthbusinessschool/latestnews/title,108150,en.html